HEX To Commence Rationalisation Negotiations

HEX Group, part of OMHEX, initiates rationalisation negotiations that are estimated to lead to a reduction of approximately 60 positions in Finland, most of which are within OM Technology's Finnish operations. The process is expected to be concluded by March 2004. OMHEX currently employs 372 people in Finland.

The reduction in positions is based on productivity grounds and relates to the reorganisation of tasks and need to reduce overlap due to the merger between HEX and OM. The rationalisation measures are a part of the merger synergies that were communicated on May 20.

OM announced in June that the number of positions in Sweden will be reduced by 200 during the third and fourth quarter of 2003 as a result of a streamlining and focus program. Today OMHEX announced that 10 more positions are estimated to be reduced in Sweden in the first quarter of 2004.