Patria Land & Armament Oy streamlines operations

The mandatory employee negotiations in Patria Land & Armament Oy were started inJanuary 2009 due to the financial and production related reasons and they were finalised on 25 March 2009. As a result 31 persons will be temporarily laid off and 43 will be given notice.

Patria Land & Armament Oy launched an internal development project in January 2009 aiming at the improvement of the company competitiveness and profitability in the tightening competitive environment. The project covers all the operational areas including operation models, organisation, personnel development as well as the capacity and therefore involves all the personnel. The project proceeds in steps and is expected to last the entire year 2009. Decision on potential continuation of this process will be taken thereafter.

During the project the situation of some of Patria’s most important customers has weakened due to the international financial crisis. Market situation is expected to further weaken at least until the end of 2010. In this situation, Patria needs to adapt its operational and financial structure to meet the changed market situation.

Patria is a defence and aerospace group with international operations delivering its customers competitive solutions based on own specialist know-how and partnerships. Patria is owned by the State of Finland and the European Aeronautic Defence and Space Company EADS N.V.

Further information:

Seppo Seppälä
President
Patria Land & Armament Oy
Tel. +358 40 869 2680 or +358 40 869 2360