Larox Corporation Company announcement 18.2.2010 at 2 p.m.
Larox concluded the personnel negotiations in its European subsidiaries
Larox has concluded the personnel negotiations in its European subsidiaries.
These negotiations, announced by Larox on December 22, 2009, were started in
order to adjust the organization and cost structure to the weakened demand.
As a result of the negotiations Larox reduces personnel in the subsidiaries
located in the Netherlands and in Germany. In Larox BV (the Netherlands), 16
employees will leave the company both through retirements, part time
redundancies and dismissals. In Larox GmbH (Germany) 29 persons will leave the
company through early retirements, dismissals and other arrangements.
The aim of the adjustment measures is to reduce Larox's annual costs by
approximately 6.5 million euros. This cost saving target includes also the cost
reductions that will be achieved through adjustment measures started in Finland
and other Larox Group locations in 2009. It is estimated that these annual cost
reductions will be fully realized in 2011. The extraordinary non-recurrent costs
generated by above mentioned measures were booked for 2009.
Larox Corporation
Juhana Ylikojola
President & CEO
Phone +358 207 687 266
Fax +358 207 687 439
juhana.ylikojola@larox.com
www.larox.com
Distribution NASDAQ OMX Helsinki Ltd., Central Media
Larox develops, designs and manufactures industrial filters and is a leading
technology company in its field. Larox is a full service solution
provider in filtration for separating solids from liquids. It supplies
comprehensive aftermarket services throughout the lifespan of the Larox
solution. Companies world-wide in mining and metallurgy, chemical processing and
related industries benefit from the Larox technologies. Larox operates
in over 40 countries and has over 600 employees. Larox has production facilities
in Finland and in China, and the Group is headquartered in Lappeenranta,
Finland. Net sales in 2009 totaled 150.2 million euros, of which more than 93 %
were generated by exports and the company's foreign operations. Larox is a
subsidiary of Outotec.