Skip to main content

The Result of the Change Negotiations at Valoe: The Company Adjusts Its Operations with Temporary Layoffs

Written by Customer Service on . Posted in Public Companies.

Valoe Corporation        Inside information 20 March 2023 at 09.55 (Finnish time)                

                                                

At the beginning of March 2023, Valoe Corporation commenced change negotiations to adjust its operations after the company’s customer, Sono Motors GmbH (“Sono Motors”) announced it cancelled the Sion project. The change negotiations have been completed. In accordance with the outcome of the negotiations, Valoe will lay off its staff full-time and part-time for a maximum of 90 days. The layoffs will be implemented gradually to maintain the company’s production and operational capacity. Also, the management will be laid off. The measures will start immediately and generate savings of around EUR 0.3 million in the second quarter. There will be no redundancies.

Valoe estimates that the short-term layoffs are sufficient to adjust the company’s operations in the next few months, after which the company expects its order book to grow. Valoe is negotiating with Sono Motors to continue cooperation. Further, Valoe also has ongoing negotiations with existing and new customers for new orders and expanding existing projects.

In Mikkeli 20 March 2023

Valoe Corporation

Board of Directors

For more information: Iikka Savisalo
President and CEO, Valoe Corporation
Tel. +358 40 521 6082, email: iikka.savisalo@valoe.com

Distribution:
NASDAQ OMX, Helsinki
Main media
www.valoe.com

Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe’s head office is located in Mikkeli, Finland.

 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.