30 jobs to go at Österby Marine
By IBI Magazine/Lars-Åke Redéen
Some 30 people have lost their jobs at Sweden's Österby Marine as part of a cost-reduction plan. The company is a wholly owned subsidiary of Termo Holding and also includes Marine Jet Power AB (MJP), Österby Gjuteri (Österby Casting) and Alcopropeller. It's owned by Capilon AB, a publicly listed private equity firm focused on industrial investments. The cost-reduction programme also includes arrangements to achieve a more cost-effective production. It spans over two years and will cut SEK10m per year in costs. "During the two latest years we have rigged the company for a growth, but now we have to adjust our capacity for a much lower demand," says the company's managing director, Hans Andersson. Österby Marine has 149 employees.
(1 December 2008)
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