Agreement between VTT and KCL was signed today
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.
Senior Vice President
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