Orion Oyj : Orion Diagnostica's statutory co-operation negotiations completed
ORION CORPORATION STOCK EXCHANGE RELEASE 3 JUNE 2013 at 08.55 EEST
The statutory co-operation negotiations which were initiated in April in Orion
Diagnostica Oy, a subsidiary of Orion Corporation focusing on diagnostic
tests, have been completed. As a result, a decision has been made that
altogether about 60 persons of the company's personnel in Finland will be
given a notice. In addition about 20 people will leave their positions due to
a retirement or a fixed term contract.
Orion Diagnostica will streamline its operations and improve the company's
profitability among other things by simplifying the product portfolio.
According to the original estimate, the negotiations could have led to cutting
up to 80 jobs.
About 40 of the above mentioned redundancies will take place in Turku, in
which the operations of Orion Diagnostica will be terminated. The other
personnel reductions will occur in Espoo and Oulu. In all locations the
redundancies will be implemented mainly during 2013.
Redundancies will not take place in Orion's Pharmaceuticals business in Turku
or in other locations.
Orion will book in Q2/2013 a non-recurring charge of preliminarily about EUR
1.5 million relating to the structural rearrangements.
Orion Group aims to offer open vacancies in other group companies to the
persons who will be given a notice.
Timo Lappalainen Olli Huotari
President and CEO SVP, Corporate Functions
Timo Lappalainen, President and CEO
tel. +358 10426 3692
Orionintie 1A, FI-02200 Espoo, Finland
Orion is a globally operating Finnish company developing pharmaceuticals and
diagnostic tests - a builder of well-being. Orion develops, manufactures and
markets human and veterinary pharmaceuticals, active pharmaceutical
ingredients and diagnostic tests. The company is continuously developing new
drugs and treatment methods. Pharmaceutical R&D focuses on central nervous
system drugs, oncology and critical care drugs, and Easyhaler® pulmonary
Orion's net sales in 2012 amounted to EUR 980 million and the company had
about 3,500 employees. Orion's A and B shares are listed on NASDAQ OMX
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Source: Orion Oyj via Thomson Reuters ONE
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