STOCKHOLM, Sweden, Sept. 4, 2002 (PRIMEZONE) -- Outokumpu's ownership in AvestaPolarit now exceeds 90 %, which allows the parties to proceed with their plans to promptly integrate certain central administrative activities. In connection with this integration of corporate centre activities, AvestaPolarit has decided to close the office in Stockholm that it has maintained as a head office in parallel with the CEO's office in Espoo, Finland.
The decision to close AvestaPolarit's Stockholm office affects 39 employees in various staff functions. MBL-negotiations with the Trade Unions have been finalised, and due notice has also been given to the Authorities (Lansarbetsnamnden).
Current plans call for as swift as possible a reorganisation of the central functions and the transfer of activities from Stockholm to either Outokumpu's or AvestaPolarit's offices in Espoo. This will be done so that the integration has been carried out and the new organisation is up and running by the year-end 2002.
The employees affected by the decision will be given all reasonable support to either relocate within AvestaPolarit or the broader Outokumpu Group or find new external jobs.
Contacts for further inquiries:
Katarina Lybeck, Senior VP - Corporate Communications Telephone: +46 8 613 3617 or +358 40 503 0750 e-mail: katarina.lybeck@avestapolarit.com Leif Helgman, Executive VP - Human Resources Telephone: +46 8 613 3630 or +46 70 565 740 e-mail: leif.helgman@avestapolarit.com
AvestaPolarit Corporate Management Linnoitustie 4 A, PO Box 270, FIN-02601 Espoo, Finland. Tel: +358 9 5764 5511, fax: +358 9 5764 5555 Vasagatan 8-10, PO Box 16377, SE-103 27 Stockholm, Sweden. Tel: +46 8 613 3600, fax: +46 8 613 3669 Registered office: Espoo, Business ID: 0823312-4
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