Martela Corp. and Barona Logistics Solutions Ltd (Barona Logistics) have signed an agreement to outsource the inhouse logistics and a part of the dispatch operation of Martela's Nummela production plant to Barona Logistics. Subject to transaction 19 Martela’s employees will be transferred to Barona Logistics as existing employees as of September 1, 2019. The transaction is part of a previously announced cost efficiency program to align the cost base structure more flexible.

Martela has concluded co-operation negotiations concerning Group’s companies in Finland except subsidiary company Kidex Oy.

As a result of the negotiations, approximately 40 jobs will be reduced, most of them through dismissals. It has also been decided about the possibility to temporarily lay-off personnel for a maximum of 90 days. Additional savings will be realized through normal retirements and other personnel turnover that will not be replaced in connection to re-organization of the operations.

The English version of the interim report published on 25th of April 2019 included errors in the table  “Consolidated statement of comprehensive income” on page 10. The published figures for Q1 2019 were all, except Translation differences and earnings per share, published with incorrect signs. The incorrect signs also led to an incorrect total comprehensive income in the table. The correct total comprehensive income is EUR -2 124 thousand instead of EUR 1 972 thousand earlier shown in the table. Corrected interim report is included in this stock exchange release.

MARTELA CORPORATION     STOCK EXCHANGE RELEASE     March 15, 2019 at 09.00 a.m.