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Klippan announces rationalization measures.

NORDIC BUSINESS REPORT-15 July 2003-Klippan announces rationalization measures(C)1994-2003 M2 COMMUNICATIONS LTD

Swedish paper and cardboard manufacturer Klippan AB said today (15 July) that it had identified further possibilities for rationalization within the group.

The action follows Klippan's acquisition of the paper mill Molndal in Sweden and the operations of Scottish Caldwells during 2002.

The rationalization will include the Swedish mills in Klippan, Lessebo and Molndal as well as Caldwells in Scotland, and Klippan plans to cut a total of 103 jobs. Personnel negotiations will start shortly, Klippan said.

The savings are expected to amount to approximately SEK35m annually.

One Swedish krona (SEK) is worth approximately 0.08 British pounds (GBP).

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUSW
Date:Jul 15, 2003
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