Redundancies Announced At Ci Munro

6 May 2009 Tourism Holdings Limited NZX / Media Release

Redundancies Announced At Ci Munro

Ci Munro (Caravans International Munro)

Tourism Holdings Limited, owner of the business Ci Munro, has confirmed today that 64 roles have been disestablished at the Hamilton based manufacturing business and the employees affected have been made redundant.

THL’s CEO Grant Webster stated “This decision has been based solely on the current global economic conditions and lack of demand for the recreational vehicles, private motorhomes and caravans the company produces. It is important to note that the decision is not a reflection on the team at Ci Munro.”

Over the past week the team at Ci Munro has had the opportunity to provide feedback on the proposed changes. This process was concluded yesterday with an open forum where all staff had the opportunity to express their views and concerns on the situation to the CEO and other senior managers. This has provided an opportunity to improve several aspects of the exit process for the people affected by the change, including the support provided to those seeking alternative employment.

“The focus from today is on ensuring we provide the right level of support for all those affected and give them the best possible chance to find work elsewhere” Grant Webster said.

The reduction in the size of the business is based on expected volumes over the next 12-18 months. Mr Webster said: “The changes whilst difficult place the business on a much more secure footing and whilst nobody can predict the future we are here to support this business and we will do so with a positive outlook.”

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