Apetit: Co-determination negotiations concluded in fish products group
Apetit Plc Stock exchange release 25 November 2014, 2:45 p.m.
The co-determination negotiations concerning the fish products group of the Apetit Group’s Food Business have been concluded. The outcome of the negotiations is that Apetit is to concentrate its fish products group operations in larger units in Kuopio and Helsinki and the Kustavi production unit will be closed. The Turku office will also be closed.
The closure of these locations will lead to the termination of employment for 12 people at Kustavi and 3 at Turku. The concentration of operations at Kuopio and Helsinki will mean an additional 7 new positions in these locations.
The negotiations were commenced in beginning of October as part of the long-term profitability programme for the fish products group and covered a total of 121 people in its business locations in Kuopio, Helsinki, Kustavi and Turku.
In the beginning of this year Apetit launched long-term profitability programmes for the fish and fresh products groups of its Food Business in Finland. Under the profitability programmes the business practices and structures of purchasing, sales and the order-delivery chain are being revised in order to achieve better profitability and sustainable competitiveness in these product groups. Most of the programme measures are focused on the years 2014–2015, and they are expected to improve profitability gradually as of 2015. The aim of the programmes is to achieve a reduction of EUR 4.5 million in annual expenses.
“The closure decisions now made are difficult, but they are necessary in order to improve the profitability of the fish products group and to adopt a new, simpler operating model. With the concentration now taking place we are aiming for improved cost efficiency, more effective logistics and more systematic development and control of operations,” explains Veijo Meriläinen, Apetit Plc’s CEO.
On 8 October 2014, Apetit issued a stock exchange release on the progress of the profitability programme for the fish products group and the commencement of co-determination negotiations.
Apetit Plc
Veijo Meriläinen
CEO
Further Information:
Veijo Meriläinen, CEO, tel. +358 10 402 00
Copies to:
OMX NASDAQ Helsinki
Main media
www.apetitgroup.fi
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