InterDigital Inc (IDCC): OT - No wonder NOK's margins are so good...

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jimmylee

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Monday, 10/22/2007 9:42:40 AM

Monday, October 22, 2007 9:42:40 AM

OT - No wonder NOK's margins are so good....LOL

HELSINKI (AP)--Some 3,000 technological workers in Finland began a strike Monday after wage talks with employers broke down over the weekend.

The technicians' strike, called by the 120,000-member Union of Salaried Employees, targeted selected plants of seven Finnish companies, including stainless steel maker Outokumpu Oyj (OUT1V), shipbuilder Aker Yards Oy (AKER.OS)and metals group Wartsila Corp (WRTBV.HE).

If no agreement is reached in labor talks the union will expand the strike on Oct. 30 to 20 more companies, including the world's largest mobile phone maker, Nokia Corp (NOK) and forest products group Metso Corp (MEO1V.HE), officials said.

National Conciliator Juhani Salonius, who mediated the talks between the union and employers, said the two sides were too far apart for him to propose a solution.

"We demanded 8.5% (wage hike) but the employer offered only 5.9%," union president Antti Rinne said.

There were no immediate plans to continue negotiations, officials said.

(END) Dow Jones Newswires

October 22, 2007 06:11 ET (10:11 GMT)