ROBIT PLC PRESS RELEASE 21 AUGUST 2020 AT 3.00 P.M.
COOPERATION NEGOTIATIONS CONCERNING ROBIT FINLAND LTD’S SENIOR SALARIED EMPLOYEES HAVE ENDED
The cooperation negotiations concerning Robit Finland Ltd’s senior salaried employees ended on Thursday, 20 August 2020. Robit disclosed the initiation of the cooperation negotiations with a press release on 4 August 2020.
The cooperation negotiations covered all the senior salaried personnel of Robit Finland Ltd. The estimated need for reduction was five persons, at most.
As a result of the cooperation negotiations, Robit decided to terminate four persons, considering the current situation and future business needs and goals. The persons subject to the redundancies have been released from their obligation to work.
The object of the cooperation negotiations was to ensure and strengthen the company’s long-term profitability and cash flow.
Tommi Lehtonen, Group CEO
+358 40 724 9143
Nasdaq Helsinki Ltd
Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 9 of its own sales and service points throughout the world as well as an active sales network in 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.