April 6, 2017 / 8:10 AM / 4 months ago

BRIEF-Rapala says codetermination negotiations completed

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April 6 (Reuters) - RAPALA VMC CORP

* REG-RAPALA VMC CORPORATION: CODETERMINATION NEGOTIATIONS COMPLETED.

* TOTAL NUMBER OF EMPLOYEES AFFECTED BY CODETERMINATION NEGOTIATIONS IS 50 OF WHICH FIVE ARE COVERED WITH PENSION ARRANGEMENTS.

* PLANNED REORGANIZATION OF PRODUCTION COULD MEAN MAXIMUM OF 10 EMPLOYEES REDUCTION IN ROVANIEMI.

* ORIGINALLY ESTIMATED AMOUNT WAS APPROXIMATELY 45-53 EMPLOYEES IN RAPALA VMC OYJ IN FINLAND

* NON-RECURRING COSTS RELATED TO ANY PERSONAL REDUCTIONS, WHICH ARE RECORDED IN YEAR 2017, ARE ESTIMATED TO BE ABOUT 0.2 MEUR.

* AIM OF PLANNED FINNISH RESTRUCTURINGS IS TO HAVE ABOUT 1.5 MEUR ANNUAL SAVINGS WHICH WILL BE REALIZED ON 2018

* NON-RECURRING COSTS RELATED TO ANY PERSONAL REDUCTIONS, WHICH ARE RECORDED IN 2017, ARE ESTIMATED TO BE ABOUT 0.2 MEUR. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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