9/4/2012 2:25:00 PM
NEWS BRIEFS
FinnvedenBulten Expands in Poland, Restructures Foundry Operation
FinnvedenBulten will restructure its foundry operation to strengthen its position in cast components and generate savings of SEK 15-20 million annually.
“The planned measures mainly involve an expansion of the Finnveden Metal Structures division’s operation in Poland, restructuring and optimisation of capacity utilisation between the factories in Poland and Sweden, as well as improvement and streamlining measures,” the company stated.
The company will invest about SEK 17 million to expand its capacity, and another SEK 3 million to restructure.
In total, approximately 40 people will be affected in the Swedish operations and the Polish operations will increase by approximately 30 people.
“The expansion in Poland and restructuring of the foundry operation are important aspects in improving the cost structure, but also an investment in future growth,” said CEO Johan Westman.
The changes are planned to take place in 2012-2013.
FinnvedenBulten sales during the first six months of 2012 grew 3.8% to SEK 1.64 billion, with earnings totaling SEK 80 million, producing an operating margin of 4.9%. After-tax profit reached SEK 55 million. Order bookings slipped 2.8% to SEK 1.64 billion, while cash flow totaled SEK 113 million.©2012 GlobalFastenerNews.com
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