Stock Exchange release October 11, 2007 01:00:00 PM CET
Metso Paper initiates measures to improve its competitiveness
Metso Paper's Paper and Board business line has initiated personnel negotiations that affect its certain units in Finland. The primary aim of the negotiations is to agree on measures to enhance Metso Paper's competitiveness. It is estimated that the personnel reduction need is 170 to 220 employees in total. The measures will affect all employee groups and units in seven locations in Finland (Anjalankoski, Hollola, Jyväskylä, Järvenpää, Karhula, Turku and Valkeakoski).
The measures now initiated are connected to Metso Paper's restructuring process that was carried out in summer 2007. During the process the units and functions within the Paper and Board business line were merged organizationally. Now the target is to eliminate overlapping operations and to develop and strengthen sales and services closer to customers. The non-recurring expenses related to the measures are estimated to be non-material to Metso. A more precise estimate of the expenses and savings can be made after the negotiations are concluded.
The personnel negotiations will be conducted at each location, and the actions decided on are estimated to take place during the first half of 2008.
Metso Paper employs approximately 12,000 people, of which some 4,000 work in the Finnish units of the Paper and Board business line.
Metso is a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. Its more than 26,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.
For additional information:
President, Paper and Board business line, Metso Paper
Tel. +358 400 460 587
Vice President, Human Resources, Metso Paper
Tel. +358 400 582 904