Finnveden Metal Structures strengthens competitiveness and profitability through continued streamlining programme

2010-03-02 Press release

PRESS RELEASE
Finnveden Metal Structures is carrying out a streamlining programme in its entire operation, with the aim of strengthening the company’s competitiveness and profitability. In order to further streamline its use of resources, the company is planning to concentrate production of sheet metal components to fewer sites.

Negotiations to close the operation in Mora and move production to the Group’s plants in Olofström, Sweden and Bielsko-Biala in Poland will begin immediately. Through higher utilisation of machine capacity and more efficient use of space and resources at a smaller number of factories, the company will achieve better profitability and competitiveness overall.
 
“It is very sad to have to take measures that affect personnel in this way, but we have to find solutions that strengthen the entire operation in both the short and long term,” says Johan Westman, President and CEO of Finnveden Metal Structures.
 
The restructuring is scheduled for completion in the third quarter of 2010, and 42 employees may be affected. Co-determination talks with the relevant union organisations will begin as soon as possible.

For further information, please contact:
Johan Westman, President and CEO of Finnveden Metal Structures or 
Kamilla Oresvärd, Corporate Communications Manager, Finnveden Metal Structures
Phone: +46 (0)31-734 59 00
E-mail: kamilla.oresvard@finnveden.com
 
Finnveden Metal Structures manufactures products and components made of steel, aluminium and magnesium for the automotive sector and general industry. Our production processes of pressing, casting and joining are designed to offer our customers high production efficiency, delivery precision and quality. For further information about the Group, please go to www.finnveden.com/fms.

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