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Cutbacks at Orrefors Kosta Boda

GDA Staff -- Gifts and Dec, 12/15/2011 10:07:00 AM

Kungalv, Sweden - There will be cutbacks at Orrefors Kosta Boda after decreased sales in the main markets.

The company, part of the New Wave Group, plans to reduce the workforce by 115 employees in its offices in Sweden. The cuts will mainly affect production, but other departments will also be downsized. The cuts are expected, along with other and previous decisions on cost-cutting and structural measures, to result in savings of approximately SEK 24 million annually.

The cuts will be implemented during the first half of 2012 after trade union negotiations. The savings are expected to be achieved gradually in the second half of 2012 and reach full capacity in 2013.

"It is very regrettable that we have to carry out these major cutbacks, but we must take vigorous cost-cutting measures and adapt production to the lower sales volumes that exist in our markets. We hope these measures will help us achieve acceptable profitability and thereby ensure continued Swedish manufacturing of high-quality glass products," said Torsten Jansson, president and CEO of New Wave Group.

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