ProfilGruppen Initiates Negotiations Regarding Temporarily Reduced Working Hours

Regulatory News:

ProfilGruppen (STO:PROFB) has initiated negotiations with affected unions regarding reduced working hours

The intention is that the reduction of working hours shall apply to all employees in Sweden. It is supposed to be implemented as soon as possible, and be valid until the end of the year at the longest. The action is caused by continued low demand of aluminum profiles from the European market.

”During the third quarter we have noticed that the demand for aluminum profiles in Europe remains weak. Since our previously informed actions in the market area still have not given full effect, in the meantime we have to adjust our capacity and costs after the current level of demand.” says Anders Frisinger, CEO of ProfilGruppen.

ProfilGruppen AB is a supplier of complex customized aluminum extrusions and components.

This information is published according to applicable laws, listing agreements and regulations. The information was submitted to media for publication 15.00 CET on October 10, 2013.

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