4/10/2013

Orion Diagnostica proposes co-operation negotiations on streamlining its operations and reducing no more than 80 employees in Finland

ORION CORPORATION        STOCK EXCHANGE RELEASE 10 APRIL 2013 at 08.55 EEST              

Orion Diagnostica Oy, a subsidiary of Orion Corporation focusing on diagnostic tests, has today given a negotiation proposal, as laid down in the Finnish Act on Co-operation within Undertakings, on streamlining operations, reorganizing production and possible personnel reductions. The estimate on the reduction need is no more than 80 employees. The measures considered by the employer aim to streamline operations and improve the company's profitability among other things by simplifying the product portfolio. With the considered measures Orion Diagnostica aims to ensure the continuity of operations and competitiveness also in the future.

The negotiations concern all Orion Diagnostica's personnel, except some minor exclusions, in all personnel groups in all sites in Finland. In addition to other measures, the employer is considering closing down Orion Diagnostica's Turku site. Possible reorganization of the operations is estimated to cause changes in roles and responsibilities, lead to transfers of employees to other positions or other sites, changes to the terms of employment as well as possible terminations of employment by notice. Should redundancies occur, the employer would, according to a preliminary estimate, give notice during 2013.


Orion Corporation

Timo Lappalainen
President and CEO
Olli Huotari
SVP, Corporate Functions

                       
       
Contact person:
Timo Lappalainen, President and CEO
tel. +358 10 426 3692

Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
Homepage: www.orion.fi

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 drugs.

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 Helsinki.