Vacon Plc, Stock Exchange Release, 9 April 2015 at 8.00 a.m. (EET)
The personnel negotiations under the Finnish Act on Co-operation within Undertakings concerning the tasks of Vacon's white-collar personnel in Finland were completed on 8 April 2015.
During the negotiations the discussions covered the plan of a new organizational structure and its possible impact on the tasks and conditions of employment of some of Vacon's white-collar employees in Finland. The company's objective is that the actions planned would not result in personnel reductions.
The invitation to the personnel negotiations was submitted to the representatives of Vacon white-collar employees in Finland on 17 March 2015, and the negotiations were commenced on 24 March 2015. The parties of the negotiations resolved to complete the negotiations on 8 April 2015. The negotiations related to the combining of the organizations of the AC drive businesses of Vacon and Danfoss, and covered approximately 440 white-collar employees in Finland.
Vacon employs approximately 800 people in Finland. The Danfoss Drives segment, formed by the AC drives businesses of Vacon and Danfoss, employs around 5,000 people globally.
VACON PLC
Further information:
- Vesa Laisi, President and CEO, Vacon Plc, phone +358 (0)40 8371 510, vesa.laisi(at)vacon.com
- Sebastian Linko, Director, Corporate Communications and Investor Relations, +358 (0)40 8371 634, sebastian.linko(at)vacon.com
Vacon in brief
Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and provide customers with efficient product lifecycle services. Our AC drives offer optimum process control and energy efficiency for electric motors. Vacon inverters play a key role when energy is produced from renewable sources. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 32 countries. Further, Vacon has sales representatives and service partners in nearly 90 countries. In 2014, Vacon's revenues amounted to EUR 409.4 million, and the company employed globally approximately 1,600 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki). Vacon is part of Danfoss Group.
Driven by Drives, www.vacon.com
Distribution:
NASDAQ OMX Helsinki
Financial Supervisory Authority
Main media
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vacon Oyj via Globenewswire
