English

RAISIO CHEMICALS CODETERMINATION TALKS C

Report this content 
Raisio Group plc           Stock Exchange Release
                           10 June 2003 at 11.00 Finnish time



RAISIO CHEMICALS CODETERMINATION TALKS CONCLUDED

Raisio Group subsidiary, Raisio Chemicals, has finalised the
codetermination talks related to its Finnish white collar workers.
40 jobs will be reduced. Personnel reductions will be carried out
through inhouse transfers, voluntary reductions and pension
arrangements. Notices will concern 28 persons. Raisio Group has
started arrangements to support relocation of personnel losing
their jobs according to the negotiated principles.

On top of these cuttings, globally some 60 jobs will be reduced
from other operations of Raisio Chemicals. The rationalisation
work is currently going on. The total number of employees is today
almost 1,200.

Raisio Chemicals aims to EUR 15 million annual cost savings. Cost
savings will have their full effect from the beginning of next
year. Additionally, Raisio Chemicals aims to improve capital
management and reduce the working capital by EUR 15 million.


RAISIO GROUP PLC



Taru Narvanmaa
Executive Vice President, Communications and IR
tel. +358 50 590 9398

Further information:
Jari Lehmusvaara, Chief Operating Officer, Raisio Chemicals
tel. +358 50 556 6519

Subscribe