Vaisala's new business structure and completion of co-operation negotiations

Vaisala Corporation                                        
Stock Exchange Release               
March 6, 2015 at 9:00 a.m.

Vaisala's new business structure and completion of co-operation negotiations

Vaisala announced on January 27, 2015 its plans to restructure its business in order to strengthen the capability to implement its strategy and to increase agility. As a result of the restructuring, Weather Business Area is organized into three business units, Meteorology, Transportation and Energy, and Controlled Environment Business Area is organized into three regions with full business responsibility, Americas, EMEA and APAC.

In order to foster the business areas to operate with different business models the current Service function is integrated into Weather and Controlled Environment Business Areas. In the new structure Information Services and Field Services are part of the Weather Business Area whereas Calibration and Repair Services are part of the Controlled Environment Business Area. Vaisala's Operations and Support units will continue to serve as group functions.

Vaisala continues to invest in its growth businesses and to develop products and services which combine its customers' business expertise and Vaisala's technological leadership. The new organizational structure strengthens customer focus across all functions and ensures operational efficiency through simplification.

The planning of restructuring has been finalized and in Finland the related co-operation negotiations which were initiated in February 2, 2015 were completed on March 5, 2015. As a result, Vaisala will reduce its workforce by a total of 52 positions, out of which 18 positions will be reduced in Finland. The original estimate for the reduction was 60 full-time equivalents, out of which about 25 were estimated to be in Finland. The reduction will take place through redundancies, retirement options and terminations of temporary contracts. Vaisala will provide a range of support measures for those affected by the restructuring.

This restructuring is estimated to result in annual cost savings of EUR 4 million by 2016. The cost savings for 2015 are estimated to be EUR 2 million. The related one-time costs will be reported in the first quarter 2015 Interim Report and are estimated to be EUR 2 million.

Vaisala will publish Interim Report January-March 2015 on April 28, 2015.

Further information
Kjell Forsén, President and CEO
Tel. [phone]

Kaarina Muurinen, CFO
Mobile [phone]

Vaisala Corporation

Distribution:
NASDAQ OMX Helsinki
Key media
www.vaisala.com

Vaisala is a global leader in environmental and industrial measurement. Building on 79 years of experience, Vaisala contributes to a better quality of life by providing a comprehensive range of innovative observation and measurement products and services for chosen weather-related and industrial markets. Headquartered in Finland, Vaisala employs approximately 1,600 professionals worldwide and is listed on the NASDAQ OMX Helsinki stock exchange. www.vaisala.com      www.twitter.com/VaisalaGroup

 

Vaisala's new business structure and completion of co-operation negoti

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Source: Vaisala Oyj via Globenewswire

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