STOCKHOLM, Sweden, Nov. 06, 2003 (PRIMEZONE) -- Gunnebo, the international security group, has been carrying out an extensive structuring programme within the Gunnebo Physical Security division since the end of 2000. The object of the programme was to return the division to profitability by reducing the capacity to manufacture safes and banking products in Europe by 40 per cent, and by significantly reducing the number of product ranges and models.
As part of the programme three factories -- one each in England, Holland and Germany -- have been closed down, and the manufacture of high-graded, fire-resistant safes has been concentrated at Rosengrens' factories in Mora and Malung in Sweden.
As a result of these measures, the previously unprofitable companies acquired by Gunnebo now are performing at substantially higher operating profitability.
As a further stage in the structuring programme, Rosengrens intends to close the plant in Malung and transfer production to the factory in Mora.
The planned closure will affect some 50 employees, of whom around 25 will be offered employment at the factory in Mora.
GUNNEBO AB (publ) Information
Gunnebo is today 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. Turnover amounts to some MEUR 760. 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: Chubb Safes, Fichet-Bauche, Rosengrens, Ritzenthaler, Garny and Leicher.
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