Vacon Plc, Stock Exchange Release, 15 February 2012 at 9 am (EET)

Vacon Plc has completed the statutory personnel negotiations on 15 February 2012 concerning the company's white-collar personnel in Finland.

The invitation to the personnel negotiations was given to Vacon's white-collar employee representatives on 12 December 2011, and the negotiations started on 19 December 2011.

The need for personnel reduction in Finland operations was estimated at 60 persons at most. Possible temporary lay-offs and part-time work were estimated to affect not more than approximately 400 white-collar employees of the company. As a result of the negotiations, the need for personnel reduction was specified at 19 persons. 13 fixed-term employment contracts will not be extended. In addition to the personnel reductions, the number of Vacon's white-collar personnel in Finland operations will be reduced by 13 persons altogether with voluntary arrangements.

In the negotiations an agreement was also reached on an option for temporary lay-offs for a total of 20 working days which can be realized during April-December of 2012 as well as on an option for temporary lay-offs for a maximum of 10 working days during the first quarter of 2013.

Furthermore, savings equal to over 10 man-years have been identified in Vacon's global operations, and these savings will be realized during the first half of 2012.

In the background of the need for the alignment are economic and production related reasons as well as the re-organization of Vacon's operations. The aforementioned measures aim to ensure the company's competitiveness as well as developing and launching new products to the market.

In Finland, Vacon employs altogether some 750 people in Vaasa, Tampere and Vantaa.

Further information:

• Vesa Laisi, President and CEO, phone +358 (0)40 8371 510, vesa.laisi(at)vacon.com
• Sebastian Linko, Director, Corporate Communications and Investor Relations, phone +358 (0)40 8371 634, sebastian.linko(at)vacon.com

Vacon in brief:

Vacon is driven by a passion to develop, manufacture and sell the best AC drives and inverters in the world - and to provide efficient life-cycle services for its customers. Our AC drives offer optimum process control and energy efficiency for electric motors. Vacon inverters are a key component in producing energy from renewable sources. We have R&D and production units in Finland, the USA, China and Italy, and sales & service offices in 27 countries. In 2011, Vacon had revenues of EUR 380.9 million and globally employed 1,500 people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange.

www.vacon.com

Distribution:

NASDAQ OMX Helsinki
Financial Supervisory Authority
Main media