January, the 22th 2010
Atria Baltic records impairment losses for fixed assets and goodwill
Atria is launching an efficiency improvement programme in Estonia, seeking to
achieve annual savings of approximately EUR 1 million in its cost structure. In
order to achieve the savings, Atria is closing the Ahja plant and centralising
the production to the Valga and Vastse-Kuuste production plants. Approximately
40 employees will be laid off from the Ahja plant.
As a result of the goodwill impairment testing and the closing of the Ahja
plant, the company's Board of Directors has decided to record impairments of EUR
5.8 million in total: EUR 3.0 million pertaining to goodwill, EUR 0.8 million to
trademarks, and EUR 2.0 million to buildings and machinery.
In addition, the Board of Directors has decided to reduce the book value of the
company's estate in Lithuania by EUR 1.4 million.
The impairments will have no effects on the cash flow, and they will be recorded
in the performance of the year 2009 as a non-recurrent item.
For further information, please contact:
Mr Juha Gröhn, Executive Vice President,
Atria Finland and Baltic, tel. +358 400 684 224.
President and CEODISTRIBUTION:
Nasdaq OMX Helsinki Oy
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