Finnveden Metal Structures gives notice of redundancy affecting 25 employees

PRESS RELEASE | GOTHENBURG, 1 NOVEMBER 2012. Finnveden Metal Structures has given notice of redundancy affecting 25 employees at the factory in Olofström, Sweden in order to adapt the operation to the current demand.

”With the current market conditions, this is unfortunately a necessary measure in order to adapt the operation to the right level,” says Johan Westman, President and CEO, FinnvedenBulten.

21 blue-collar employees and 4 white-collar employees will be given notice. The factory in Olofström has in total 266 employees and of which 53 are white-collar employees. Union talks will begin in the near future.

For further information, please contact:
Johan Westman, President and CEO
Tel: + 46 (0)31-734 59 00 Mail: media@finnvedenbulten.com

FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. FinnvedenBulten is structured into two divisions – Bulten and Finnveden Metal Structures – both with strong positions in their respective customer segments. FinnvedenBulten is listed on NASDAQ OMX Stockholm. Further information at www.finnvedenbulten.com.

Division Finnveden Metal Structures manufactures products in steel, magnesium and aluminium, or a combination of those materials. The main manufacturing processes are stamping, die casting and joining. The components include interior, chassis and body parts for the automotive industry, as well as customised components for general industry.

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Bulten is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to customized special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was founded in 1873, has some 1,200 employees in nine countries and head office in Gothenburg. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at www.bulten.com

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