Velan Inc.
TSX : VLN

Velan Inc.

October 09, 2007 16:33 ET

Velan Inc.: Announcement

MONTREAL, QUEBEC--(Marketwire - Oct. 9, 2007) - Velan Inc. (TSX:VLN) announced today that the unionized employees in its Williston, Vermont plant have commenced a strike after failing to reach an agreement with the company on the renewal of their collective agreement. Discussions are ongoing between the company and the union. The company said that it is not possible to determine the possible effect on the operations and results for the company. The Williston plant has 113 unionized workers, out of total employees company-wide of 1,796, and the production represents approximately 11% of the company's consolidated sales.

Contact Information

  • VELAN Inc.
    Tom Velan
    President
    514-748-7743
    514-748-8635 (FAX)
    or
    VELAN Inc.
    John D. Ball
    Chief Financial Officer
    514-748-7743
    514-748-8635 (FAX)