Exel Sports Oy and Exel Sports Sweden AB in talks about future of personnel

Co-determination negotiations will be started at Exel Oyj’s Finnish subsidiary Exel Sports Oy and at its Swedish subsidiary Exel Sports Sweden AB (formerly International Gateway AB) to improve their efficiency and to conclude the structural change.
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Exel continues measures to improve its profitability and efficiency.

Co-determination negotiations will be started at Exel Oyj's Finnish subsidiary Exel Sports Oy and at its Swedish subsidiary Exel Sports Sweden AB (formerly International Gateway AB) to improve their efficiency and to conclude the structural change.

The co-determination negotiations concern Exel Sports Oy's personnel as a whole both in Finland and in Sweden. At present Exel Sports Oy employs 12 persons and Exel Sports Sweden AB 5 persons. The target of the negotiations is to find an optimal solution to strengthen the Floorball operations' competitiveness and market position. The aim is to conclude the negotiations during week 47.

”We will improve and adjust our operations to better correspond with the present market and competition situation. We expect to achieve necessary savings for example by eliminating overlapping operations and restructuring the organization”, Mr. Vesa Korpimies, Exel Oyj's President and CEO, says.

In addition, the operations of the Mäntyharju factory, which is a part of Exel Composites, will be adjusted to correspond e.g. to the demand in the laminates operations. According to a stock exchange release published on 22 February, 2008 Exel gave non-salaried employees a notice of a temporary layoff. The notice affects 12 non-salaried employees. The notice took effect on 1 March, 2008 and ends on 28 February, 2009 at the latest. According to the notice a maximum of 12 non-salaried employees of the Mäntyharju factory will be laid off temporarily until 28 February, 2009. The layoffs start on 13 November, 2008. Altogether the Mäntyharju factory's staff consists of 59 persons.

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