Statutory negotiations at Nokian Tyres ended
Nokian Tyres plc Stock Exchange Bulletin 23.11.2005 at 9.05 am
STATUTORY NEGOTIATIONS AT NOKIAN TYRES ENDED
The statutory meetings that started at Nokian Tyres in Nokia with the labour union leaders November 21, 2005 ended yesterday evening with the mutual solution. The parties agreed that the operations and personnel related to the car tyre production will be gradually laid-off during 2005 and 2006. The company aims at avoiding the anticipated dismissals of the personnel by lay-offs and other actions.
The first lay-off week of the total of four weeks will be carried out during the week between Christmas and New Year and the remaining weeks during the spring 2006, if the need for that still exists. The lay-offs concern the maximum of 700 people in all personnel groups.
The aim of the procedure is to adjust the car tyre production with the current inventory and tyre demand.
Nokian Tyres plc
Vice President, Corporate Communications and IR
Further information: Mr. Kim Gran, CEO and President,
tel. +358 3 340 7336.
Distribution: OMX and major media