NEO INDUSTRIAL PLC STOCK EXCHANGE RELEASE 3 Septermber 2018 at 1.00 pm
Reka Cables will start co-determination negotiations to develop operations
Neo Industrial Plc's subsidiary Reka Cables Ltd launches a development program aimed at developing competitiveness and profitability. To boost competitiveness, resources will be redirected and targeted to ensure growth.
As part of the program, Reka Cables will start co-determination negotiations with all staff groups for reducing maximum of 20 people. Negotiations concern all personnel groups in the company's Hyvinkää, Riihimäki and Keuruu locations. In addition, negotiations on possible seasonal layoffs will be conducted. At the end of August, the company had 257 employees.
Hyvinkää, 3 September 2018
Neo Industrial Plc
Ralf Sohlström
Managing Director
Further information:
Ralf Sohlström, Managing Director, tel. +358 40 770 2720
www.neoindustrial.fi
Neo Industrial's strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial's class B shares are listed on the main list of NASDAQ Helsinki Stock Exchange. Neo Industrial's business segment is Cable Industry.