Nurminen Logistics Oyj Starts Co-determination Negotiations for Finnish Operations Concerning 270 Employees in Finland and Structural Changes

Nurminen Logistics Oyj announced that the Nurminen Logistics Group is to commence co-determination negotiations pertaining to all personnel in Finland. The Company is planning structural changes to improve its competitiveness and boost the efficiency of its Finnish operations. The reasons for the planned changes include structural changes in demand and flows of goods in Finland and the insufficient profitability of the Group’s Finnish operations. The negotiations concern all of the Company’s personnel in Finland, 270 employees in total. The adjustment requirement is estimated to be no more than 28 man-years. The aim of the changes is to achieve some EUR 800,000 in annual cost savings at the Group level. The planned measures would involve a one-time cost of no more than EUR 400,000, which would be recorded in the second quarter of 2013. The planned changes in production structure will not affect the Company’s strategy of strengthening its position in domestic railway transport in Russia and nearby countries, as well as railway transport between Finland and Russia.