Nefab aligns workforce in Sweden

Nefab aligns workforce in Sweden Due to the weak trend in the telecom equipment industry, combined with the already completed transfer of production to the newly constructed factory unit in Estonia, Nefab's plant in Alfta, Sweden is currently overmanned. The surplus of personnel affects wage earners as well as salaried employees. Today, Nefab informed the trade union organizations about the situation and will be initiating negotiations regarding personnel reductions. The preliminary estimate is that about 60 persons will be affected. These measures are a step in efforts being made to align costs to the prevailing demand situation. The plants affected in Alfta employ about 300 persons. For more information about the company's view on the market trend, reference is made to the interim report for the second quarter that was presented on August 13, 2002. For further information, contact President and CEO Lars-Åke Rydh, tel. +46-70-592 45 70, e-mail lars-ake.rydh@nefab.se, or CFO Anna Stålenbring, tel. +46-70-814 23 44, e-mail anna.stalenbring@nefab.se Jönköping, September 12, 2002 Lars-Åke Rydh President and CEO Information about Nefab Nefab delivers complete packaging solutions to international industrial groups, primarily within the telecom equipment and automotive industries. Nefab companies are located in Europe, North and South America and Asia. Invoiced sales in 2001 amounted to SEK 1.1 billion. The Nefab share is listed on Stockholmsbörsen. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/09/12/20020912BIT00710/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/12/20020912BIT00710/wkr0002.pdf