STOCKHOLM, Sweden, June 20, 2005 (PRIMEZONE) -- Orrefors Kosta Boda AB today gives notice to the county labour boards of Kalmar County and Kronoberg County about its intention to execute a large reorganisation. The planned reorganisation means inter alia a reduction of 67 employees, most of which are salaried employees. The reorganisation is an included part in a wider cost reduction plan. The Managing Director of the company, Magnus Andersson, says that he hope that the negative effects of the reorganisation will be reduced by the New Wave Group of companies', to which Orrefors Kosta Boda AB belongs, extensive investments within "Glasriket", with inter alia the establishment of new businesses in the region. Furthermore Magnus Andersson says that the planned measures to be taken are absolutely necessary for the company to once again be profitable and there through secure the employments for the remaining employees within Orrefors Kosta Boda AB.
New Wave Group AB (publ) Goran Harstedt dCEO
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