Raute To Streamline Global Manufacturing Network, Close Production Facility In China

Raute Oyj RAUTE:

• RAUTE TO STREAMLINE ITS GLOBAL MANUFACTURING NETWORK AND CLOSE ITS PRODUCTION FACILITY IN CHANGZHOU, CHINA

• DECISION IS DRIVEN BY WEAK MARKET DEMAND IN CHINA

• FOLLOWING CLOSURE DECISION, RAUTE WILL BOOK IMPAIRMENTS AND PROVISIONS AFFECTING COMPARABILITY IN ESTIMATED TOTAL AMOUNT OF EUR 3.8 MILLION

• AS A RESULT OF MEASURES, RAUTE'S FIXED COSTS WILL DECREASE BY APPROXIMATELY EUR 2 MILLION ANNUALLY