SUOMINEN CORPORATION TO IMPROVE EFFICIENCY AND BEGIN CODETERMINATION NEGOTIATIONS
Tampere, 2012-05-14 08:30 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Stock exchange release 14.5.2012 at 9.30 a.m.
Suominen Corporation to improve efficiency and begin codetermination negotiations
Within the framework of the previously announced performance improvement programme, Suominen Nonwovens Ltd. will begin codetermination negotiations on 14 May 2012. Suominen Nonwovens Ltd is a subsidiary company fully owned by Suominen Corporation belonging to Suominen’s Wiping business area. The negotiations will affect all 166 employees at Suominen Nonwovens Ltd. The reduction need is estimated to be 85 employees.
Suominen became a global market leader in nonwovens for wipes when the company bought Ahlstrom Corporation’s Home and Personal business. Thanks to the acquisition, the Nonwovens Business Unit turnover nearly quadrupled and the number of production facilities grew from one to seven. Suominen Nonwovens Ltd’s production facility in Nakkila produces nonwovens for wiping, hygiene and wound care. In addition to the Nakkila site, Suominen produces nonwovens in North America, Italy, Spain and Brazil (the Brazilian transfer is estimated to take place during the second quarter).
In order to optimize its production structure, Suominen has analyzed its production facilities from a market standpoint. The analysis initiated the need to assess the production structure and sharpen the role of the unprofitable operations at the Nakkila unit.
” We intend to strengthen our position as a global market leader in nonwovens. Therefore we must continuously streamline our operations and our ability to supply our customers with precisely what they need”, says President and CEO Nina Kopola.
Suominen’s most important short-term objective is to improve its profitability. Therefore the company has launched a performance improvement program. The target is to achieve cost savings of the order of about two percentage points on net sales.
Helsinki, 14 May 2012
Suominen Corporation
Nina Kopola
President and CEO
For additional information, please contact
Mrs. Nina Kopola, tel. +358 (0)10 214 3551
Suominen supplies industry and retailers with nonwovens wet wipes, , and flexible packaging for use in consumer products that people us every day – through two business areas: Wiping and Flexibles.
Distribution:
NASDAQ OMX Helsinki Ltd.
Main media
www.suominen.fi
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