STOCKHOLM, Sweden, July 2, 2003 (PRIMEZONE) -- Boliden (TSE:BLS) (Other OTC:BDNNF) is reorganising operations at the Dutch brass company Boliden LDM in Drunen. In order to increase profitability, production will be concentrated on the manufacturing of billets (raw material) and brass rods to be marketed mainly in the BeNeLux, Germany and selected export countries. Approximately 40 positions will be affected by the reorganisation.
"The reorganisation is a direct result of the weak demand for brass products in Europe, mainly due to the deterioration of the construction market. Profitability is essential in spite of the difficult market situation," said Jan Johansson, President and CEO of Boliden.
The organisational changes at LDM will be implemented on October 1, 2003. A number of cost-cutting and efficiency-boosting programmes are already in progress within Boliden's Business Area Fabrication.
For further information, please contact: Jan Johansson, President and CEO, Boliden, tel: +46 8 610 16 02, +46 70 555 02 02
Bengt Olof Johansson, Vice President Business Area Fabrication, tel: +46 70 217 69 89
Boliden is an international mining and metal-producing company that mines, processes and markets copper, zinc, lead, gold and silver. Boliden owns seven mines and two smelting plants in Sweden and one mine in Canada. The range of activities also includes sales of technology. Copper and brass products are manufactured at plants in Europe. The number of employees is approximately 3 800 and the turnover amounts to approximately 10 billion SEK annually. The Boliden share is quoted on the Stockholm Stock Exchange in Sweden as well as on the Toronto Stock Exchange in Canada.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/07/02/20030702BIT00620/wkr0001.doc
http://www.waymaker.net/bitonline/2003/07/02/20030702BIT00620/wkr0002.pdf