Panostaja’s investment target Grano to begin employer-employee negotiations

 

Panostaja Oyj       Stock Exchange Bulletin, Insider Information               September 2, 2020        9.05 a.m.


Panostaja’s investment target Grano to begin employer-employee negotiations

The Grano Group, part of the Panostaja Group, will start co-operation negotiations targeted Grano Oy's marketing services, production of print and print products, logistics and installation operations, sales operations as well as some of the operations of the parent company Grano Group Oy. According to a preliminary estimate, the reorganizations may lead to the full-time or part-time lay-off or dismissal of up to 120 people, as well as changes in operating models and work tasks. In addition, the company will consider lay-offs for all the personnel that are the subject of the negotiations for a maximum of 90 days. If measures are taken, they will be implemented by 31 October 2021 at the latest. The negotiations include approximately 760 people.

The Grano Group has a need to continuously improve its competitiveness and develop and renew its operations in an ever-changing market. In addition, the company is prepared to adjust its operations to a temporary reduction in the order book due to the prolongation of the coronavirus pandemic. Due to the above, the management of the Grano Group is planning to renew, adapt and improve its operations to meet changed demand.

Panostaja Oyj

Tapio Tommila
CEO

Further information:

CEO Pekka Mettälä, Grano Oy, +358 (0)40 504 2019

CEO Tapio Tommila, Panostaja Oyj, +358 (0)40 527 6311

Panostaja is an investment company developing Finnish SMEs in the role of an active shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja strives to increase shareholder value and create Finnish success stories. Panostaja has a majority holding in seven investment targets. Panostaja’s shares (PNA1V) are quoted on the Nasdaq Helsinki Stock Exchange. In the 2019 financial year, the Group’s net sales totaled MEUR 190. www.panostaja.fi