JM winds up operations in Karlstad

JM winds up operations in Karlstad JM AB has informed personnel and union representatives in Karlstad of its intention to wind up operations in that location. However, all projects currently in progress will be completed. The motives for the wind-up are that operations in Karlstad have not succeeded in meeting JM's margin requirements and that JM doesn't expect the market for residential project development to change in the foreseeable future. Negotiations regarding the organisational change will proceed in the near future. For additional information contact Johan Skoglund, Head of Business Unit JM Bostad, telephone +46 8 782 89 39 or Göran Malmberg, Human Resources Director, JM AB, telephone +46 8 782 87 85. Stockholm, 31 January 2002 JM AB Group Staff Corporate Communications This and earlier press releases are also available at www.jm.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/08/19/20030819BIT00580/wkr0001.doc http://www.waymaker.net/bitonline/2003/08/19/20030819BIT00580/wkr0002.pdf