Hartmann, a Denmark-based molded-fiber packaging producer, to proceed with closing its manufacturing plant in Varkaus, Finland, fully by Q4 2013 after recently completing employee consultations; the closure entails 45 redundancies in Finland

GENTOFTE, Denmark , March 7, 2013 (press release) – Following negotiations with employee representatives, Hartmann closes its manufacturing facility in Varkaus with a view to increasing overall competitiveness and optimising the European production network through reduction of complexity and efficiency improvements.

As stated in company announcement 1/2013 of 4 January, Hartmann has negotiated with Finnish employee representatives regarding the proposed closure of its manufacturing facility in Varkaus since 14 January. Negotiations have been concluded, and Hartmann's management has decided to proceed with the closure of the Finnish facility.

The closure will come into force in the fourth quarter of 2013 and is not expected to affect European sales volumes or group revenue. The initiative entails 45 redundancies in Finland and is expected to lead to an annual positive effect on operating profit of around DKK 10 million with full effect from 2014. The closure is expected to result in special items in the range of DKK 30-40 million in 2013.

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