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2006-12-09 News Release

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Valmet Automotive to decrease production

Production volume for Valmet Automotive is expected to gradually decrease in the spring to about 100 cars per day with a reduced reduction in workforce.

Valmet Automotive’s production volume is estimated gradually to decrease during spring to about 100 cars per day by April 2007. During the first eleven months in 2006 the production volume for Valmet Automotive, a Metso Corporation, has been approximately 150 cars per day. The reason for the decrease is the overall uncertain situation in the automobile market and its effects on the demand for the car factory’s products. The decrease in volume will mean an additional reduced need for employees. Since the merger of Rauma and Valmet in 1999, the owner is Metso Corporation.

Find Information and Suppliers of sports cars.

Valmet Automotive announced in November a decrease in the daily production volume from 153 cars to 132 cars. At the same time, personnel negotiations regarding 80 employees were initiated. At the personnel negotiations held today, the company informed the employee representatives of the impact the further decrease in production volumes will have on the personnel. Now there is a need to reduce personnel strength by 260 instead of the previously estimated 80. The intention is to maintain the previously communicated schedule for the personnel negotiation decisions, i.e. the second to the last week of December.

Cayman S is a two-seater, based on the Boxster series. photo: Valmet Automotive

Currently, Valmet Automotive produces two models for Porsche AG, the Boxster (2nd generation) and the new Cayman.

Valmet Automotive is the only producer of Porsche cars outside Germany. Since 1997 altogether 150,000 Porsche sports cars have been manufactured in Finland.

The new Porsche Cayman S was launched in production at Valmet Automotive in the autumn 2005.

The Cayman S has a six-cylinder boxer engine with a capacity of 3.4 liters and an output of 295 hp (217 kW). The sport car's maximum speed is 275 kilometers per hour. With manual transmission and a centrally placed engine, the Cayman S accelerates from zero to 100 km/h in only 5.4 seconds.

The Cayman was launched in production in the summer 2006. It has a boxer engine with a capacity of 2.7 litres and an output of 245 hp (180 kW). The maximum speed is 258 km/h and the car accelerates from zero to 100 km/h in 6.2 seconds (manual transmission).

The car factory currently employs about 1,060 people. Valmet Automotive’s net sales during the first nine months in 2006 were EUR 81 million and operating profit EUR 10.7 million. Valmet Automotive is part of Metso Corporation.

Find information about Valmet Automotive.

Read a recent press release about - To strengthen its aftermarket business, Metso acquires two companies that provide mechanical services, maintenance and parts in the pulp and paper industry.

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