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Eastern European Markets

PRESS RELEASE
March the 14th, 2012

VAASAN invests in a new Bake Off production site in Estonia

"The Bake Off business area has a strong position in the Nordic countries. A new production site in Estonia opens up new business opportunities for us and helps us to strengthen our foot hold also in the Baltic countries, where we already are market leaders in fresh bread", says Lenita Ingelin, Director for VAASAN Bake-Off business.

As a result, the Bake-Off production sites in Sweden will be closed down and production will be moved gradually to Estonia. The personnel will be offered a possibility to move over to work for the new factory and that is now subject to negotiations with the labour unions. The management has an open dialogue with the local labour unions to try to minimize the possible negative impact on the personnel in Sweden. At the moment the Group has two bake-off production sites in Sweden and one in Finland.

"The new site will bring new jobs to Saue and we assume that when fully up and running it will employ appr. 100 persons", says Lenita Ingelin.

The construction of the new production site will start in the coming months and be ready within a year. Production in Saue will then start gradually and be fully operating in the beginning of 2014.

About Vaasan
The VAASAN Group is an international forerunner in the baking industry. It is the leading bakery company in Finland and the Baltic region. The Group is also the largest thin crisp and the second-largest crispbread producer in the world, and a leading Nordic operator in bake-off products. In 2010 the Group's net sales was approximately EUR 392 million. The Group employs some 2,950 people in Finland, Estonia, Latvia, Lithuania, Sweden and Norway. In Estonia we operate under the name AS Leibur. More information: www.leibur.ee  and  www.vaasan.com

For more information
Mrs Lenita Ingelin
Director, VAASAN Group, Bake Off Business Area
Tel. + 358 (0) 204 46 2020 or lenita.ingelin@vaasan.com

www.vaasan.com


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