Bofors Weapon Systems serves notice on 85 salaried staff

Bofors Weapon Systems serves notice on 85 salaried staff Celsius´ business unit Bofors Weapon Systems AB has served notice on 85 salaried employees, due to shortage of work. The union has been informed, and redundancy negotiations are being initiated. These redundancies will affect salaried employees at Bofors Weapon Systems in Karlskoga, and are necessitated by reduced or cancelled orders. Orders anticipated for the artillery side are highly uncertain. This uncertainty has been heightened by the long drawn out decision process regarding the future of the Swedish Defence Forces. Together, these factors make these redundancies unavoidable. So far this year, Celsius' business area Defence has instituted cutbacks affecting some 400 personnel, and notice has been served on a further 300 employees. In the past 24 months, Celsius' defence contracting units have implemented a net reduction in excess of 2000 personnel. For further information, please contact Magnus Ingesson, President, Bofors Weapon Systems, on +46(0)586-817 42 or +46(0)70-521 27 76 (mobile), or Anders Florenius, Vice President/Marketing Communications, on +46(0)8-463 00 53 or +46(0)70-582 32 30 (mobile). Celsius is an international advanced-technology and knowledge-based corporation, which in close interaction with its customers develops, manufactures and maintains advanced systems, products and services within core areas Defence and Aviation Services. Based on a platform of comprehensive competence, new businesses with strong growth potential are developed for the military and commercial markets. Celsius, with sales of about SEK 14 billion, has some 11,000 employees. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/09/01/19990901BIT00370/bit0001.doc http://www.bit.se/bitonline/1999/09/01/19990901BIT00370/bit0002.pdf