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Savosolar prepares to adjust its operations and starts co-operation negotiations

·2-min read

Savosolar Plc
Company Announcement, Insider information 29 June 2021 at 2.30 p.m. (CEST)

Savosolar prepares to adjust its operations and starts co-operation negotiations

Savosolar Plc is preparing to adjust its operations due to possible negative effects of longer than expected time of customers making investment decisions by starting co-operation negotiations concerning the personnel of the Finnish company due to production and financial reasons. The negotiations deal with the possible temporary layoffs of maximum 25 people on a part-time or full-time basis for a maximum of 90 days, using a fourteen days’ negotiation period. The company has several projects in the active execution and bidding phase and therefore the sales and project execution staff are not affected by the adjustment measures.

SAVOSOLAR PLC

For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 29 June 2021 at 2.30 p.m. (CEST).

About Savosolar

Savosolar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company’s collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savosolar helps its customers to produce competitive clean energy. Savosolar’s vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems – market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savosolar is known as the most innovative company in the business and aims to stay as such. The company has sold and delivered its products to almost 20 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden with the ticker SAVOS and on Nasdaq First North Growth Market Finland with the ticker SAVOH. www.savosolar.com.

The company’s Certified Adviser is Augment Partners AB, info@augment.se, phone: +46 8-604 22 55.


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