Rocla Oyj Stock exchange release 18.11.2008 at 1.00 p.m.
ROCLA'S Q4/2008 RESULT REMAINS NEGATIVE AND THE COMPANY STARTS NEGOTIATIONS
ABOUT PERSONNEL COST REDUCTIONS
The market situation in the fork lift truck branch is weakening due to the
worldwide financial crisis. The rate at which Rocla Group is receiving truck
orders has decreased compared to the beginning of the year and the fourth
quarter in 2007. The net sales will decrease during the last months of the year
2008 to the extent that the net result will remain negative during Q4/2008. The
net sales of the whole year 2008 are estimated to remain on the same level as in
2007 and the net profit will be close to zero. Thus, the Company readjusts the
estimate given in the interim report for January-September according to which
the net sales will meet the level of 2007 and net profit for the current fiscal
year is expected to fall short of the net profit of last year.
Rocla starts negotiations about the measures to adjust the employment situation
to the business volume in the units located in Finland. The aim is to reduce
costs and make the operations more efficient in order to ensure the
competitiveness and the profitability of the Group. In the Group's operations
abroad the measures are adjusted to the local market situation and the
performance of each unit.
According to the current estimate, in the Finnish units the need to reduce the
labor usage is about 20% and the need applies to all personnel groups. In spite
of the adjustment measures, Rocla aims at ensuring especially the resources for
the direct customer service. Reduction of personnel costs is planned to be
carried out as lay-offs. They are estimated to start in January 2009 and
preliminarily, they are estimated to concern 430 people for 40 days at maximum
until the end of September 2009.
ROCLA OYJ
Tapio Rummukainen
President and CEO
Additional information: CEO Tapio Rummukainen tel +368 20 7781 370
Distribution:
NASDAQ OMX Helsinki Oy
Main media
Rocla develops, manufactures and markets electric warehouse trucks and automated
guided vehicles (AGVs) and related services and solutions during their lifespan.
On Sept 30, 2008 The Rocla Group employed 649 people out of which 430 people in
Finland. Rocla Oyj, Mitsubishi Caterpillar Forklift Europe B.V. and its parent
company Mitsubishi Heavy Industries, Ltd. have on 23 October 2008 entered into a
Combination Agreement based on which Mitsubishi Caterpillar Forklift Europe B.V.
has decided to make a voluntary public tender offer for all shares and share
options of Rocla Oyj in accordance with the Securities Markets Act Chapter 6,
and under the terms and conditions of the tender offer document published on 10
November 2008. For more information visit the Rocla website
(http://www.rocla.com).
ROCLA'S Q4/2008 RESULT REMAINS NEGATIVE AND THE COMPANY STARTS NEGOTIATIONS WITH THE PERSONNEL
| Source: Rocla Oyj