Vacon : to start personnel negotiations to renew its organizational structure in Finland

Vacon Plc, Stock Exchange Release, 17 March 2015 at 8.30 a.m. (EET)

Vacon will start the personnel negotiations with the white-collar personnel working in the Vacon Group's parent company Vacon Plc in Finland. The negotiations are related to the combining of the organizations of the AC drive businesses of Vacon and Danfoss, and will cover approximately 440 white-collar employees in Finland.

According to Vacon's estimate the organization renewal would potentially require significant changes in the conditions of employment of some white-collar employees, such as transfers from one position to another. The objective of the company is not that planned actions would lead to reductions in personnel.

"Combining the two big organizations requires careful planning and considering a large number of various details. To ensure a successful outcome, we have today started with the personnel negotiations, in the course of which we will negotiate about the structure of the new organization," says Vesa Laisi, Vacon Plc's President and CEO. 

Vacon employs approximately 800 people in Finland. The Danfoss Drives segment, formed by the AC drives businesses of Vacon and Danfoss, employs around 5,000 people globally.

VACON PLC

Further information:

• Vesa Laisi, President and CEO, Vacon Plc, phone +358 (0)40 8371 510, vesa.laisi(at)vacon.com
• Sebastian Linko, Director, Corporate Communications and Investor Relations, +358 (0)40 8371 634, sebastian.linko(at)vacon.com

Vacon in brief

Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and provide customers with efficient product lifecycle services. Our AC drives offer optimum process control and energy efficiency for electric motors. Vacon inverters play a key role when energy is produced from renewable sources. Vacon has production and R&D facilities in Europe, Asia and North America, and sales offices in 32 countries. Further, Vacon has sales representatives and service partners in nearly 90 countries. In 2014, Vacon's revenues amounted to EUR 409.4 million, and the company employed globally approximately 1,600 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki). Vacon is part of Danfoss Group.

Driven by Drives, www.vacon.com

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