uncategorized · 8/29/2007

Neste Oil to begin statutory employee negotiations at its Laajasalo lubricants plant

Neste Oil Corporation
Press release
29 August 2007 at 9:30 a.m. EET

Neste Oil’s operations at its Laajasalo lubricants plant in Helsinki are expected to end in a couple of year’s time, as the landowner, the City of Helsinki, has decided to terminate the company’s lease as of the end of 2010 as part of its plans to rezone the area for residential use. Operations will have to end at least a year earlier for the buildings to be demolished and the ground prepared for non-industrial use.

As a result of the impending closure, Neste Oil has decided to start statutory negotiation procedures with production, warehouse, maintenance, and product management staff on 5 September 2007. Negotiations will cover a total of some 45 employees, and are expected to be completed by mid-October at the latest.

Following a strategic review of its lubricants business in 2004, Neste Oil decided to continue in the business and develop and market its own lubricant brands. As the Laajasalo plant is Neste Oil’s only lubricant and motor chemicals facility, planning has started on continuing production elsewhere.

Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications

Further information: Esa Miettinen, Vice President, Oil Retail on +358 50 458 5788