Change negotiations regarding Raisioaqua business at Raisio Group completed
Press release, 26.4.2022
Change negotiations at Raisioaqua Ltd have been concluded. Raisioaqua is a Finnish fish feed producer and feeding expert and is part of the Raisio Group. The motivation for the negotiations were production-related and financial as all exports to Russia had to be stopped.
Raisio issued its proposal for negotiations in accordance with the Act on Co-operation within Undertakings (334/2007) on March 7, 2022. At that point, the assumption was that the negotiations might lead to furloughs which might take over 90 days and would cover the whole personnel, which is about 30 employees.
The end result of the negotiations is a furlough of 27 employees. The length and time schedule of furlough varies depending on employee’s role and furloughs will be from 1 to 11 months. With different schedule and length of furloughs we ensure the production and supply of fish feed during the fish growing season.
Raisio’s exports to Russia has consisted of consumer packed foods as well as fish feed. Most of the turnover generated in Russia has come from the fish feed exports produced by Raisioaqua. Approximately 65% of Raisioaqua’s production has been exported to Russia, which means that stopping exports has had a significant effect to Raisioaqua’s business.
Raisio plc’s Stock Exchange Release regarding exports to Russia was published on March 3, 2022.
Raisio plc
Further information:
Pekka Kuusniemi, CEO, tel. +358 50 537 3883
RAISIO PLC
Raisio’s purpose is to make food which is good for Health, Heart and Earth. Our growth drivers and focus areas are Benecol® and plant stanol ester solutions, plant based foods, branded oat products for consumers and oat as raw material for industry. Our strong brands include for example, Benecol®, Beanit®, Elovena®, Sunnuntai®, Torino® and Benella®. In our products the focus is on well-being, health, good taste and responsibility. Raisio's values − courage, fairness and drive − guide us towards our targets. Raisio’s shares are listed on Nasdaq Helsinki Ltd. In 2021, the Group’s net sales totaled EUR 246 million and comparable EBIT was EUR 22 million. Raisio employs about 400 people. www.raisio.com.