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Sandvik Coromant serves notice to 250 persons in Gimo, Sweden

Sandvik Coromant has decided to initiate negotiations with the local organization of the Swedish Metalworkers' Union regarding a surplus of about 250 persons at the plants in Gimo.

The notice period is six months. An increasing number of leading indicators suggest that the weak trend in the world economy could be lengthy. In response to this situation, a downsizing of personnel is necessary as an adjustment of capacity and resources to lower demand.

Sandviken, 11 December 2001

AB Sandvik Coromant