IITTALA GROUP TO START NEGOTIATIONS UNDER THE CODETERMINATION ACT
Fiskars Corp. Stock Exchange Release, December 29 2008 at 2 p.m.
IITTALA GROUP TO START NEGOTIATIONS UNDER THE CODETERMINATION ACT Fiskars Corporation's subsidiary Iittala Group Ltd will start codetermination negotiations on redundancies and lay-offs affecting office and managerial staff at its all locations in Finland. These negotiations will cover a total of some 500 people, and redundancies are expected to involve around 35 people. The negotiations aim at adapting the company's cost structure to the uncertain market situation. Fiskars' guidance for 2008, as announced on December 12 2008, remains unchanged. Further information: Teemu Kangas-Kärki, CFO, Fiskars Corp, tel +358 9 6188 6231 Tero Vähäkylä, President, Iittala Group Ltd, tel +358 204 39 5306 FISKARS CORPORATION Kari Kauniskangas Founded in 1649, Fiskars is a leading supplier of branded consumer goods. Fiskars business areas are: Garden, Homeware, Craft, Outdoor Recreation, Inha Works, and the Real Estate Group. Its major international brands are Fiskars, Iittala, Gerber, Silva, and Buster. The associated company Wärtsilä Corporation is also an important part of the Corporation. Fiskars business segments are the Americas, EMEA, Wärtsilä, and Other. Fiskars shares are quoted on NASDAQ OMX Helsinki Ltd. In 2007, the Fiskars Corporation net sales were EUR 658 million, the operating profit EUR 110 million and the Corporation employed some 4,500 people. www.fiskars.fi