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Press Release

Orion's statutory co-operation negotiations completed

Orion Oyj
Posted on: 28 Feb 18

ORION CORPORATION                               PRESS RELEASE                28 FEBRUARY 2018 at 10.45         

Orion's statutory co-operation negotiations completed

Orion's co-operation negotiations regarding the laboratory operations of pharmaceutical production, quality assurance and R&D in Espoo and Turku, and in Fermion's laboratories in Hanko, Espoo and Oulu have been completed.

The goal of the negotiations was to renew and further streamline the operating model for laboratories and improve productivity to ensure Orion's competitiveness in the future. As a result of the negotiations, 17 persons of the company's personnel will be given a notice. The lay-offs are planned to be implemented during 2018. In addition, some positions will be terminated due to retirement or a fixed term contract during 2018 and 2019. Orion Group aims to offer open vacancies to the persons who will be given a notice.

In January Orion issued a negotiation proposal, as laid down in the Finnish Act on Co-operation within Undertakings, on the reorganisation of operations, boosting of efficiency of operations and possible personnel reductions. According to the original estimate, the negotiations could have led to cutting up to 40 jobs.

Contact person:
Elina Koivu, Human Resources Manager, Orion Corporation
phone +358 10 426 3007

Orionintie 1A, FI-02200 Espoo

Orion is a globally operating Finnish pharmaceutical company - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals, active pharmaceutical ingredients and diagnostic tests. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology and respiratory for which Orion develops inhaled Easyhaler® pulmonary drugs. Orion's net sales in 2017 amounted to EUR 1,085 million and the company had about 3,500 employees. Orion's A and B shares are listed on Nasdaq Helsinki.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Orion Oyj via GlobeNewswire

Last updated on: 01/03/2018

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