LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE 30 DECEMBER 2008 AT 9.30 AM
EFFICIENCY IMPROVEMENTS IN LÄNNEN TEHTAAT'S FISH PRODUCTS BUSINESS AND GROUP
MANAGEMENT
The Lännen Tehtaat Group is making its Fish Products Business more efficient by
streamlining the organizational structure. The head of Apetit Kala, the head of
retail concept sales and the head of the Maritim Food Group, who are responsible
for the different units of the Group's Fish Products Business, will from now on
report directly to the CEO of the Lännen Tehtaat Group. The posts of the
director of the Fish Products Business, the sales director for Maritim Food
Sweden, the project manager for the Fish Products Business and the project
manager working at Lännen Tehtaat group management will also be abolished.
As a result of the streamlining measures, Lännen Tehtaat will during the final
quarter recognize non-recurring expenses of about EUR 0.5 million directed
mainly at the Fish Products Business. The costs savings are estimated to improve
the Group's operating profit by around EUR 0.6 million per year starting in
2009.
The Lännen Tehtaat's Fish Products Business is made up of Apetit Kala Oy,
operating in Finland, and the Maritim Food Group, which operates in Norway and
Sweden. Apetit Kala produces, markets and sells processed fish products under
the Apetit brand and private labels and sells fish, fish products and other
fresh products at its Kalatori-service counters. The companies belonging to the
Maritim Food Group produce and sell fish, processed fish and shellfish products
in Norway and Sweden under private labels and under their own Maritim and
Sunnmöre brands.
LÄNNEN TEHTAAT PLC
Matti Karppinen
CEO
For more information, please contact CEO Matti Karppinen, tel. +358 10 402 4001
Distribution:
NASDAQ OMX Helsinki Ltd
Main media
www.lannen.fi
EFFICIENCY IMPROVEMENTS IN LÄNNEN TEHTAAT'S FISH PRODUCTS BUSINESS AND GROUP MANAGEMENT
| Source: Apetit Oyj