WULFF-GROUP PLC STOCK EXCHANGE RELEASE JUNE 16, 2008, AT 3.10 PM
ENTRE MARKETING, SUBSIDIARY OF WULFF-GROUP PLC TO START COOPERATION NEGOTIATIONS
Entre Marketing Ltd, a subsidiary of Wulff-Group, will initiate a plan of action
regarding personnel in order to enhance achieving its financial and strategic
goals. Along with the plan of action, Entre will initiate cooperation
negotiations concerning possible staff cuts due to production-related and
financial issues, as well as business reorganisation. The cooperation
negotiations will focus on trade fair sales and design department and project
unit. The estimated need for staff reduction is seven people at most. Entre
Marketing Ltd’s net sales account for some 10% of Wulff-Group’s consolidated net
sales. Entre Marketing’s operations have been unprofitable in 2007 and during
The cooperation negotiations will be carried out in compliance with the
cooperation act, and they are expected to be concluded in the middle of July.
The aim of the negotiations is to secure the company’s competitiveness and
operational viability in the future.
Wulff-Group Plc’s CEO Heikki Vienola: ”As the market leader of its branch, it is
important for Entre to constantly improve its customer promise. Serving
customers in a more and more flexible manner requires business reorganization.
Our Group’s goal is profitable growth, and in order to support this goal,
enhancing operations is necessary. I believe that the measures now initiated
will have a positive impact on Entre’s profitability.”
Entre Marketing Ltd’s operations focus on the design and implementation of
international and domestic trade fairs, exhibitions and event marketing. Entre
is Finland’s market leader in its sector and in 2007 Entre had activities in 32
countries, preparing 740 stands for a variety of events. Wulff-Group Plc
acquired a majority shareholding in Entre Marketing Ltd previously owned by
Finpro ry and key personnel of the Entre group in May 2007. Entre Marketing Ltd
employs 45 people at the moment.
Heikki Vienola, CEO
Tel. +358 9 5259 0050 or +358 50 65 110
Sirpa Väisänen, IR Officer
Tel. +358 9 5259 0050 or +358 400 943 243
OMX Nordic Exchange Helsinki