Gunnebo Streamlines Operations for Increased Competitiveness

Gunnebo Security Group is planning to implement a number of restructuring measures, with the aim of gradually reducing its costs by US$72.9 million up to 2012 and strengthening its market positions.

The restructuring measures partly entail streamlining the group's industrial platform. The planning of winding-up of operations at the group's plant in Mora, northern Sweden, is part of this program, which may affect 57 employees. The reason is Gunnebo's market for products made in Mora has been declining for a number of years. The group plans to relocate manufacturing to other production units.

“Gunnebo is the result of more than 40 acquisitions which have been integrated in recent years, and the next step is to reduce fixed costs and secure efficient utilization of capital and resources,” said Tomas Wangberg, SVP Operations Gunnebo. “It is always regrettable to plan measures that affect employees negatively, but change is necessary if the group is to strengthen its market positions and increase competitiveness.”