Employer employee negotiations concerning layoffs and redundancies initiated by Ruukki Engineering Oy in early December 2011 have now been completed.

The negotiations were held to improve efficiency and adjust production to weakened market conditions. The negotiations affected Ruukki Engineering Oy's personnel, a total 434 persons in Kurikka in Finland.

The negotiations have resulted in the redundancy of 35 people, of which 30 are workers and 5 salaried or senior salaried employees. Most of the redundancies referred to above will take place through pension arrangements.

Layoffs will be implemented subject to separate plans based on the order books and layoff notices will be given in week 4 at the earliest.