ROBIT INITIATES EMPLOYEE COOPERATION NEGOTIATIONS IN FINLAND

ROBIT PLC        PRESS RELEASE        4 AUGUST 2020 AT 2.30 P.M.
                     
ROBIT INITIATES EMPLOYEE COOPERATION NEGOTIATIONS IN FINLAND

Robit initiates employee cooperation negotiations in its subsidiary, Robit Finland Ltd, in relation to possible changes and actions to ensure and strengthen the company’s long-term profitability and cash flow. Robit disclosed the temporary lay-offs carried out in its Finnish units with a press release on 2 April 2020 as a part of preparing for COVID-19 situation.

”In the present business environment, we are obliged to carry out also permanent cost savings based on profitability reasons, preparing at the same time for a longer duration of COVID-19 effects,” states Group CEO, Tommi Lehtonen.

Employee cooperation negotiations cover senior salaried personnel of Robit Finland Ltd. Negotiations may result in terminations based on financial or production-related reasons and may lead at most to a termination of five employees.

Employee cooperation negotiations start on 10 August 2020 and last for two weeks, at most.

ROBIT PLC
Tommi Lehtonen

Further information:
Robit Plc
Tommi Lehtonen, Group CEO
+358 40 724 9143
tommi.lehtonen@robitgroup.com

Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com

Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 9 of its own sales and service points throughout the world as well as an active sales network in 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.