Skip to main content

Valmet completes the co-determination negotiations in the Fabrics Business Unit

Written by Customer Service on . Posted in Public Companies.

Valmet Oyj’s press release on March 17, 2020 at 10:00 a.m. EET
Valmet has completed the co-determination negotiations in the Fabrics Business Unit’s operations in Tampere, Finland. The negotiations were started on January 21, 2020. The target is to ensure the unit’s profitability and future competitiveness.Valmet will relocate the dryer fabric and wide filter fabric production from Finland to Portugal. As a consequence of the relocation and re-organizing of the work, the need for workforce reduction in Tampere will be 78 persons mainly during 2021. In addition, the possibility for temporary lay-offs and part-time work remains if capacity adjustments need to be done later this year. For those affected by the reductions, Valmet will provide support measures like support for studies and re-employment.Earlier Valmet estimated that the co-determination negotiations would lead to a workforce reduction of 90 persons at the maximum and possible lay-offs and part-time work.Fabrics Business Unit employs altogether approximately 500 persons in Tampere. Fabrics develops and manufactures press felts, shoe press belts, dryer fabrics and wide filter fabrics in Tampere. Valmet’s location in Portugal, to which the dryer fabric and wide filter fabric production is relocated, develops and manufactures filter fabrics and other industrial textiles.VALMET
Corporate CommunicationsFor further information, please contact:
Aki Niemi, Business Line President, Services, Valmet, tel. +358 40 515 1145Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.Valmet’s strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers’ processes and enhance the effective utilization of raw materials and energy.Valmet’s net sales in 2019 were approximately EUR 3.5 billion. Our more than 13,000 professionals around the world work close to our customers and are committed to moving our customers’ performance forward – every day. Valmet’s head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.Read more www.valmet.com, www.twitter.com/valmetglobalProcessing of personal data

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.