Revenio Group Corporation: REVENIO TO LAUNCH EMPLOYER-EMPLOYEE NEGOTIATIONS REGARDING RIB BUSINESS
Revenio Group Corporation Stock Exchange Release August 18 2014 at 9:15 hrs.
REVENIO TO LAUNCH EMPLOYER-EMPLOYEE NEGOTIATIONS REGARDING RIB BUSINESS
Due to production and financial reasons, the Finnish health tech group Revenio
Group Corporation will initiate employer-employee negotiations within
Boomeranger Boats Ltd., a company specializing in Rigid Inflatable Boats (RIB)
and a part of Revenio Technology and Services business segment. The negotiations
will affect the entire personnel of Boomeranger Boats Ltd., approximately 27
persons in total.
In line with its strategy, the Revenio Technology and Services segment focuses
on maintaining a good profitability trend, organic growth and efficiency. The
employer-employee negotiations within Boomeranger Boats Ltd. are held in order
to ensure that a positive profitability trend will continue.
The aim is to adjust the company's cost structure to its changed operating
environment, which currently poses some challenges. The negotiations are carried
out in preparation for a potential scenario in which the existing, substantial
order book of Boomeranger Boats Ltd. cannot be fully realized. The risk of this
is caused by the general economic situation, which has been noted to hinder
decision-making processes. Another goal of the negotiations is to ensure that
the profitability trend of Revenio Group Corporation continues in line with its
strategy.
Revenio Group Corporation
Olli-Pekka Salovaara
President and CEO
For further information, please contact:
President & CEO Olli-Pekka Salovaara, tel. +358 40 567 5520
olli-pekka.salovaara@revenio.fi
www.revenio.fi
DISTRIBUTION:
NASDAQ OMX Helsinki
Financial Supervisory Authority (FIN-FSA)
Principal media
www.revenio.fi
The Revenio Group in brief
Revenio is a Finnish health tech group whose core business is tonometers. The
Revenio Health Tech segment comprises the business operations of Icare Finland
Oy. The widely patented Icare product family is the current cornerstone of the
Group's success. Revenio seeks vigorous growth in health technology, both
organically and through acquisitions and mergers.
The Revenio Group also includes other business operations, which are grouped
under the Technology and Services segment. This segment's operations have a
shared global market and represent the cutting edge of technology products and
services in their industry. These businesses are extremely profitable in their
industries and generate positive cash flow for the Group.
In 2013, the Revenio Group's net sales totaled EUR 25.7 million, with its
operating margin standing at 21.7%. The Revenio Group Corporation is listed on
NASDAQ OMX Helsinki.