KUNGSBACKA, Sweden, Oct. 4, 2002 (PRIMEZONE) -- Elanders makes adjustments in operations and has therefore given notice of termination to some eighty persons employed in inner city Stockholm. Employment Act negotiations concerning the redundancies will commence next week. Reducing personnel is part of the action plan that began during the third quarter and is aimed at making Elanders profitable in 2003.
After the reductions there will be 140 employees working together at the Infomedia House on Rosenlundsgatan in Stockholm. Signature and advertising production, IT, premedia and digital print are some of the remaining operations. Offset printing and certain premedia are services that will be provided by Elanders companies located outside of inner city Stockholm.
"It's never pleasant to make co-workers redundant but unfortunately this is one of the measures we believe necessary to making Elanders profitable in the coming year. The unequivocal basis of our operations must be prosperous companies. The operations in question have reported losses a long time and at present we cannot detect any recovery on the horizon, " said Patrick Holm, President and CEO.
Elanders Lithorex AB in Landskrona and Elanders Norge AS with its subsidiaries in Norway were sold during the third quarter as part of an action plan that is expected to be completed in October 2002.
For further information, please contact: Patrick Holm Mats Almgren President and CEO Chief Financial Officer Elanders AB Elanders AB +46 300 50 000 +46 300 50 000 +46 708 210 410 +46 705 18 19 36
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