Trelleborg Commences Negotiations for Relocation of Production of Protective Products from Ystad.STOCKHOLM, Sweden -- A decision has been made to convene CONVENE, civil law. This is a technical term, signifying to bring an action. codetermination co·de·ter·mi·na·tion n. Cooperation, especially between labor and management, in policymaking: "The codetermination of labor with management, compulsory in large firms here, was applied to universities as well, with negotiations with the appropriate trade union organizations regarding the closure and transfer of Trelleborg's (STO:TRELB) protective products operations from Ystad. This decision has been made to ensure future cost-efficiency for this labor-intensive business, which is exposed to increasing competitiveness and rising raw materials prices. Various types of protective products, primarily chemical protective and diving suits, are produced in Ystad, where the number of employees totals 89. The evaluation that forms the basis of the decision to convene codetermination negotiations foresees that production will be relocated re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. to the business unit's plants in Taurage (Lithuania) and Hull (UK), and that the business unit's head office will be transferred to the municipality MUNICIPALITY. The body of officers, taken collectively, belonging to a city, who are appointed to manage its affairs and defend its interests. of Trelleborg. Provided negotiations are concluded, production in Ystad is expected to continue until mid-year 2007. A total of 66 employees will be served notice of termination of employment "Fired" and "Firing" redirect here. For other uses, see Fired (disambiguation) and Firing (disambiguation). “Gross misconduct” redirects here. For the ice hockey term, see Penalty (ice hockey). , of which 10 are administrative and management personnel and 56 are employed in production. This information will be submitted to the County Labor Board today. In cooperation with the trade union representatives, work will commence to support the employees affected and to plan action programs to help them find new employment, both inside and outside the Group. The costs for closure and restructuring are estimated at approximately SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 13 M before tax, most of which will affect cash flow mainly in 2007. The positive effect on earnings is expected to total approximately SEK 10 M before tax on a 12-month basis, with full impact as of the third quarter of 2007. Trelleborg is a global industrial group whose leading positions are based on advanced polymer technology and in-depth applications know-how. Trelleborg develops high-performance solutions that seal, damp and protect in demanding industrial environments. The Trelleborg Group has annual sales of approximately SEK 24 billion, with about 22,000 employees in 40 countries. The Group comprises five business areas: Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems, Trelleborg Building Systems and Trelleborg Sealing Solutions. The Trelleborg share has been listed on the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. since 1964 and will be listed on the OMX OMX Office Max (stock symbol) Nordic List, large cap, from October 2, 2006. www.trelleborg.com This information was brought to you by Waymaker http://www.waymaker.net |
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