Contract of sale of research and laboratory services between VTT and KCL was
signed today on 1 June 2009. Integration of KCL's operations to VTT creates a
strong and networked innovation hub for the new forest industry.
Practical integration will be introduced on 15 June, but the actual
transaction will come into force after budget hearings of the Finnish
Parliament in October or November. Thus, leasing of premises and operations
until the transaction comes into force is included in the signed agreement.
KCL' personnel is operationally transferred under the scope of VTT's project
management, but they remain employed by KCL during the leasing period. KCL's
personnel will transfer to VTT's employment relationships after the contract
of sale has been approved, i.e. at the turn of the year 31 December 2009.
Immediate launch of operations helps achieve the benefits of integration, as
research and service activities have joint objectives and management.
Integration of employees and building of a new organization can be started
immediately as the leasing period begins. Also, project management can be
started at once and without interruptions, as well as preparation of new
projects. Financing arrangements can mainly be realized already during the
leasing period, and customer relations and sales activities are secured and
bringing in new customers kicks off. Practical measures, such as planning of
data administration and use of real estate, can be started immediately.