Marimekko Corporation STOCK EXCHANGE RELEASE
13 August 2009 at 9.05 a.m.
MARIMEKKO TO RATIONALISE ITS OPERATIONS AND INITIATE STATUTORY EMPLOYER-EMPLOYEE
NEGOTIATIONS REGARDING OPERATIONS IN FINLAND
Marimekko Corporation has decided to start Group-wide statutory
employer-employee negotiations regarding possible temporary lay-offs and a
permanent reduction in the number of employees in Finland. The maximum number of
permanent reductions is not expected to exceed 35 employees.
The purpose of the planned measures is to adapt the company's cost structure to
the rapidly deteriorating market situation and improve the company's ability to
develop its operations as well as safeguard the conditions for the stable
development of the company. Annual cost savings of about EUR 1.5 million are
being sought by various measures.
The planned measures aimed at streamlining the company's cost structure and
enhancing the efficiency of operations concern all of the Group's operations in
Finland. Plans to improve the competitiveness and capacity of the company's own
production plants include measures that will strengthen the production structure
and improve profitability.
In-house production is important for Marimekko's business, both for product
development and the manufacture of special collections. The planned actions
regarding production will support the company's strategy of ensuring the
continuity of its own production in Finland. Marimekko has three production
facilities in Finland: a textile printing factory in Helsinki, a clothing and
bag factory in Kitee and a bag factory in Sulkava.
At the end of July 2009, the Marimekko Group employed a total of 407 persons, of
whom 16 were abroad.
Marimekko Corporation's interim report for the January-June period of 2009 was
published on 13 August 2009.
For additional information, please contact:
Mika Ihamuotila, President and CEO, tel. +358 9 758 71
Thomas Ekström, CFO, tel. +358 9 758 7261
MARIMEKKO CORPORATION
Group Communications
Marja Korkeela
Tel. +358 9 758 7238
Fax +358 9 759 1676
Email: marja.korkeela@marimekko.fi
Distribution:
NASDAQ OMX Helsinki
Principal media
www.marimekko.fi
Marimekko is a leading Finnish textile and clothing design company established
in 1951, especially renowned for its unique use of patterns and colours. The
company designs, manufactures, and markets high-quality clothing, interior
decoration textiles, bags and other accessories. Marimekko products are sold in
over 40 countries. Marimekko products are also manufactured under licence in
various countries. In 2008, the company's net sales amounted to EUR 81.1
million, of which exports and income from international operations accounted for
27.0%. The Group employs about 410 people. The company's share is quoted on the
NASDAQ OMX Helsinki Ltd.
MARIMEKKO TO RATIONALISE ITS OPERATIONS AND INITIATE STATUTORY EMPLOYER-EMPLOYEE NEGOTIATIONS REGARDING OPERATIONS IN FINLAND
| Source: Marimekko Oyj