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Huhtamaki initiates efficiency improving measures to improve competitiveness

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Copyright © Thomson Reuters 2013. All rights reserved.
2013-03-04 08:48:15 -


Huhtamäki Oyj has initiated efficiency improving measures in order to improve
competitiveness within its Foodservice Europe-Asia-Oceania -segment. Employee
cooperation procedures have been initiated within the Group's Foodservice units
in Hämeenlinna, Finland and Epping, South Africa. In addition, a cost savings
program has been initiated within the Films business segment.

A non-recurring charge of approximately EUR 10 million will incur during 2013 to
cover the costs of the measures, the majority of which will be booked during the
first half of the year. Approximately EUR 5 million of the costs are cash costs
and the outflow is expected to take place during 2013. The targeted annual cost
savings are EUR 6 million. The majority of the savings will materialize in the
Group's results in 
2014. For further information, please contact: Jukka Moisio, CEO, tel. +358 10 686 7801 Timo Salonen, CFO, tel. +358 10 686 7880 HUHTAMÄKI OYJ Group Communications Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2012 net sales totaling EUR 2.3 billion. Foodservice and consumer goods markets are served by approximately 14,200 people in 64 manufacturing units and several sales offices in 31 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and its share is quoted on NASDAQ OMX Helsinki Ltd. Additional information is available at This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Huhtamäki Oyj via Thomson Reuters ONE [HUG#1682636]

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