Finnveden to reduce staff by 35 employees in Hallstahammar


VARNAMO, Sweden, Oct. 30, 2003 (PRIMEZONE) -- Finnveden is announcing notice of termination of employment involving 35 persons at its production unit in Hallstahammar, Sweden.

The notice is part of measures to increase operational efficiency and will affect production workers as well as salaried personnel.

Co-determination negotiations with the affected trade unions will be initiated immediately.


Finnveden AB (publ)
For further information, please call: 
Tommy Boork, CEO 
+46 31734 59 10

Finnveden is an international engineering group, with strong market positions in the automotive industry. Products include fasteners, engine components and sheet-metal components. Finnveden is listed on Stockholmsborsen (Stockholm Exchange) and has annual sales of about SEK 4.5 billion, with 3,300 employees. Additional information is available at Finnveden's website: www.finnveden.com

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The following files are available for download:

http://www.waymaker.net/bitonline/2003/10/30/20031030BIT00270/wkr0001.doc

http://www.waymaker.net/bitonline/2003/10/30/20031030BIT00270/wkr0002.pdf


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