Valoe Commences Change Negotiations that Concern Its Entire Personnel in Finland. The Company’s Customer and Financing Negotiations Continue.
19 January 2024 - 12:15AM
Valoe Commences Change Negotiations that Concern Its Entire
Personnel in Finland. The Company’s Customer and Financing
Negotiations Continue.
Valoe
Corporation Inside
Information 18 January 2024 at 15.15 (Finnish time)
As disclosed on 5 December 2023, Valoe
Corporation (“Company”) filed an application for restructuring
proceedings. In order to adjust its operations based on financial
and production reasons, the Company commences change negotiations
on possible part-time employment and/or temporary layoffs of the
Company's personnel.
Despite its challenging situation, Valoe has
received strong support for its business from the Company’s
customers. One of the Company's objectives is to adapt its
operations to meet the needs of the Company’s main customers and to
improve the profitability of its operations.
The Company continues to negotiate with a number
of investors and financiers to create a stronger financial
structure. The outcome of the customer and financing negotiations
as well as the decision regarding the restructuring application may
influence the result of the change negotiations.
In Mikkeli on 18 January 2024
Valoe Corporation
BOARD OF DIRECTORS
For more information:Iikka Savisalo, CEO, Valoe Corporation
Puhelin 040 521 6082, sähköposti iikka.savisalo@valoe.com
Distribution:Nasdaq Helsinki OyMain
mediawww.valoe.com
Valoe Corporation specializes in the clean
energy, especially in photovoltaic solutions. Valoe provides PV
technology based on its own back contact technology and related
projects, project design and technology consulting. Valoe also
provides manufacturing technology for PV modules, module
manufacturing lines, modules and key components for modules, as
well as IBC solar cells manufactured at the Company’s factory in
Lithuania. Valoe is headquartered in Mikkeli, Finland, with
production facilities in Juva, Finland, and Vilnius, Lithuania.
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