STOCKHOLM, Sweden, Nov. 9, 2004 (PRIMEZONE) -- At Gunnebo's Capital Market Day, held in Hillerstorp on Tuesday 9 November, Gunnebo's President and CEO, Bjarne Holmqvist, informed that the previously announced provisions to be taken in Q4 2004 for production adjustments to contain costs would amount to around MSEK 100.
Personnel cutbacks in global safe manufacture will affect just over 200 employees in France, India and Indonesia. Moreover, service activities and administration within Gunnebo Physical Security's business in Germany will also be co-ordinated.
The annual savings are estimated at some MSEK 60. Although they will have their full effect as of 2006, around half of the savings are expected to show through in 2005.
"We foresee lower demand for traditional banking products, especially in Western Europe. This, combined with already completed and ongoing productivity improvements, means that the number of production personnel can be reduced," explains Bjarne Holmqvist, Gunnebo's President and CEO.
GUNNEBO AB (publ) Information For further information please contact: Bjarne Holmqvist, Gunnebo AB: +46 31 83 68 00, mobile +46 708 40 03 70, Torbjorn Browall, Divisional Manager, Gunnebo Physical Security and first Executive Vice President, Gunnebo AB: +46 31 749 90 50, mobile +46 705 92 56 04, or Janerik Dimming, SVP Group Communications, Gunnebo AB: +46-31-83 68 03 or +46-705 83 68 03 (mobile); email: janerik.dimming@gunnebo.se.
Gunnebo is an international fast growing security group with 110 companies located in 32 countries. The Group has sales to a further hundred markets via agents and distributors. Annual turnover amounts to some MEUR 820. Gunnebo's security products mainly include fire and burglar resistant safes, security products for banks and cash handling, electronic security systems, fire protection, entrance control and access control, alarm centres and indoor and outdoor perimeter protection. Gunnebo has at its disposal some of the world's leading brand names in security: Chubbsafes, Fichet-Bauche, Rosengrens, Ritzenthaler, Garny, Leicher, Troax and Elkosta.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2004/11/09/20041108BIT21590/wkr0001.pdf
Production adjustments
-0-