Press release
January 9, 2009 15.00

Onninen starts negotiations on personnel reductions and laying offs in Finland

Onninen Oy starts negotiations with the personnel on giving employee notices and laying offs of the personnel in Finland because of the productive and economical reasons. According to preliminary estimates the need for reduction is not more than 160 persons of Onninen’s 1100 Finnish employees.

Part of the estimate is planned to take place through natural reduction and possible retirements. Laying off the entire personnel might come true at most for one month’s time.

All other Onninen countries have already started actions because of the market downturn during 2008. Total number of reductions in Onninen Group is estimated to 480 persons.

FURTHER INFORMATION:
SVP, Group Communications Kai Puustinen, tel. +358 40 776 7068
President & CEO Harri Sivula, tel. +358 50 65692

ABOUT ONNINEN:
Onninen provides comprehensive materials services to contractors, industry, public organisations and technical product retailers.  We are a family-owned company and have operated in the industry since 1913. We have 3,300 employees in our Finnish, Swedish, Norwegian, Polish, Russian and Baltic operations. Our net sales for 2007 totalled EUR 1.7 billion.