TELESTE CORPORATION STOCK EXCHANGE RELEASE 6.3.2009 AT 14:30
TELESTE EXPANDS CO-DETERMINATION NEGOTIATIONS
Due to the continued uncertain market situation Teleste expands the
co-determination negotiations in a manner, which, for some persons, may require
layoffs of over 90 days as well as redundancies of over 9 persons. The exact
number of employees and office workers who may be facing layoffs and
redundancies will be established in these co-determination negotiations. At the
first stage, the relevant measures are estimated to involve flexible layoffs.
The negotiations aim at finding solutions for adapting Teleste operations to the
difficult-to-predict market situation without endangering the company's good
Teleste is an international technology group founded in 1954, which is
specialized in broadband data communication systems and solutions. The group is
divided into two Strategic Business Units: Broadband Cable Networks and Video
Networks. Broadband Cable Networks serves cable operators and a major part of
its business activities are handled through direct customer contact. Video
Networks supplies solutions for optical signal transmission and video network
management software solutions for video surveillance and a major part of its
business is handled through system integrators. Both Business Units are among
the leading providers in their market areas and are globally recognized for
their know-how and ability to produce technically cutting edge solutions year
after year. In 2008 the group's net sales totalled EUR 109 million and the group
employed 677 persons at the year-end. The company has approximately 30 offices
world-wide and over 90% of Teleste's net sales are generated outside Finland.
The company is listed on the NASDAQ OMX Helsinki Ltd.
Visit www.teleste.com for more information.
FOR MORE INFORMATION:
CEO Jukka Rinnevaara, tel +358 2 2605 866 or +358 400 747 488
NASDAQ OMX Helsinki