Nokian Tyres started statutory negotiations
Nokian Tyres plc Stock Exchange Release 21 Nov.2005 3.30 pm
NOKIAN TYRES STARTED STATUTORY NEGOTIATIONS
Nokian Tyres started today the statutory negotiations for lay-offs of its personnel as well as for possible dismissals of approx. 100 employees working at the car tyre production in Nokia, Finland. The aim of the procedure is to adjust the car tyre production with the current tyre demand and inventories.
The possible lay-off, maximum of four weeks, concerns all personnel groups working at the Nokia factory i.e. a total of approx. 1.200 people. The possible lay-off does not concern personnel working for the Nokian Heavy Tyres profit centre or the Russian operation.
The procedure does not change company’s statement of the November 3,2005 for the sales and profit development for the year 2005.
Nokian Tyres will inform the results of the statutory negotiations as soon as they are finalized.
Nokian Tyres plc
Vice President, Corporate communications and IR
Further information: Mr.Kim Gran, President and CEO,
tel. +358 3 340 7336.
Distribution: OMX and major media