Suominen has completed the consultation procedure concerning its plan to permanently close manufacturing at its Mozzate plant in Italy

Suominen Corporation’s Stock Exchange Release on April 14, 2023 at 4:30 p.m. (EEST)

Suominen announced on January 10, 2023 that it will start consultation with local trade unions regarding a plan to permanently close manufacturing at its Mozzate plant. According to the plan, the production would end during the second quarter of 2023.

Suominen has now completed the consultation procedure. Following the completion of the process, Suominen will move forward with its plan which will lead to closure of manufacturing and termination of employment of 54 employees in Mozzate.

The terminations will incur an approximately EUR 2.3 million one-off expense that will be recognized in the second quarter of 2023.

SUOMINEN CORPORATION

For additional information, please contact:
Tommi Björnman, President & CEO, Suominen Corporation, tel. +358 10 214 3018
Klaus Korhonen, SVP, HR & Legal, Suominen Corporation, tel. +358 10 214 3070

Suominen manufactures nonwovens as roll goods for wipes and other applications. Our vision is to be the frontrunner for nonwovens innovation and sustainability. The end products made of Suominen’s nonwovens are present in people’s daily life worldwide. Suominen’s net sales in 2022 were EUR 493.3 million and we have over 700 professionals working in Europe and in the Americas. Suominen’s shares are listed on Nasdaq Helsinki. Read more at www.suominen.fi.

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Nasdaq Helsinki
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www.suominen.fi