JONKOPING, Sweden, Sept. 12, 2002 (PRIMEZONE) -- Due to the weak trend in the telecom equipment industry, combined with the already completed transfer of production to the newly constructed factory unit in Estonia, Nefab's plant in Alfta, Sweden is currently overmanned. The surplus of personnel affects wage earners as well as salaried employees.
Today, Nefab informed the trade union organizations about the situation and will be initiating negotiations regarding personnel reductions. The preliminary estimate is that about 60 persons will be affected.
These measures are a step in efforts being made to align costs to the prevailing demand situation. The plants affected in Alfta employ about 300 persons.
For more information about the company's view on the market trend, reference is made to the interim report for the second quarter that was presented on August 13, 2002.
For further information, contact:
President and CEO Lars-Ake Rydh, tel. +46-70-592 45 70, e-mail lars-ake.rydh@nefab.se, or CFO Anna Stalenbring, tel. +46-70-814 23 44, e-mail anna.stalenbring@nefab.se
Lars-Ake Rydh President and CEO
Information about Nefab
Nefab delivers complete packaging solutions to international industrial groups, primarily within the telecom equipment and automotive industries. Nefab companies are located in Europe, North and South America and Asia. Invoiced sales in 2001 amounted to SEK 1.1 billion. The Nefab share is listed on Stockholmsborsen.
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