Orion Diagnostica's statutory co-operation negotiations completed
ORION CORPORATION STOCK EXCHANGE RELEASE 3 JUNE 2013 at 08.55 EEST
The statutory co-operation negotiations which were initiated in April in Orion Diagnostica Oy, a subsidiary of Orion Corporation focusing on diagnostic tests, have been completed. As a result, a decision has been made that altogether about 60 persons of the company's personnel in Finland will be given a notice. In addition about 20 people will leave their positions due to a retirement or a fixed term contract.
Orion Diagnostica will streamline its operations and improve the company's profitability among other things by simplifying the product portfolio. According to the original estimate, the negotiations could have led to cutting up to 80 jobs.
About 40 of the above mentioned redundancies will take place in Turku, in which the operations of Orion Diagnostica will be terminated. The other personnel reductions will occur in Espoo and Oulu. In all locations the redundancies will be implemented mainly during 2013.
Redundancies will not take place in Orion's Pharmaceuticals business in Turku or in other locations.
Orion will book in Q2/2013 a non-recurring charge of preliminarily about EUR 1.5 million relating to the structural rearrangements.
Orion Group aims to offer open vacancies in other group companies to the persons who will be given a notice.
| Timo Lappalainen|
President and CEO
| Olli Huotari|
SVP, Corporate Functions
Timo Lappalainen, President and CEO
tel. +358 10 426 3692
Orionintie 1A, FI-02200 Espoo, Finland
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.