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HKScan Streamlines Corporate Structure in Finland

4 July 2012, at 8:05am

FINLAND - Baltic pig meat processor HKScan is to clarify and simplify its corporate structure in Finland in order to harmonise the group’s operational policies and to streamline its internal administration.

HKScan Finland Oy and its wholly owned subsidiaries - Järvi-Suomen Portti Oy, the processed meats producer in Eastern Finland and Helanderin Teurastamo Oy, which has already earlier discontinued its business operations - will be merged into HK Ruokatalo Oy.

HK Ruokatalo Oy will thus become HKScan Corporation’s 100-percent-owned subsidiary.

The mergers are of a legal nature and will have no impact on employees. The employees from the merging companies will transfer to HK Ruokatalo Oy without loss of holiday and similar entitlements.

This internal restructuring will not have any impact on the position of HKScan Corporation's shareholders or on the Group's external reporting.

The company has submitted the merger plan concerning the above described restructuring programme to the Trade Register on 29 June 2012. It is planned that the mergers will be completed by 31 December 2012.