RAISIO TO REORGANISE ITS FOOD AND INGREDIENTS DIVISIONS
Raisio plc Stock exchange release 13 August 2007
RAISIO TO REORGANISE ITS FOOD AND INGREDIENTS DIVISIONS
Raisio continues to streamline and clarify its business operations in order to
improve profitability. The measures carried out to date will now be followed by
a reorganisation of the Food and Ingredients Divisions. There is also need of
enhancement in the group service functions.
Raisio will speed up the process to improve profitability. The Food Division's
operating result in January-June continued to be in the red, while the turnover
of the Ingredients Division didn't grow. The Group will also make its cost
structure lighter.
Owing to financial and production reasons, Raisio will begin codetermination
talks in the Food and Ingredients Divisions and group service functions. The
talks will cover some 300 employees, the need for permanent job cuts being
approximately 30. The aim of the group's cost cuts is to achieve considerable
savings in 2008. In addition to the latest codetermination talks, the previously
initiated talks at the Nokia mill, concerning around 70 employees, may lead to
the mill being closed down.
RAISIO PLC
Heidi Hirvonen
Communications Manager
tel. +358 2 443 2242 or +358 50 567 3060
Further information:
Matti Rihko, CEO, tel. +358 2 443 2716 and +358 400 830 727
Merja Lumme, HR Manager, tel. +358 2 443 2230 and +358 40 528 0448