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Sandvik Steel accelerates the ongoing program of change

Sandvik Steel has decided to intensify the ongoing program of change through a review of the organizational structure at the main facility in Sandviken.

The aim is to improve the unsatisfactory profitability through reduced costs, enhanced efficiency and increased flexibility.

As a result of this action, the number of salaried employees in Sandviken is expected to be reduced by 140 positions. Wage earners in positions in which the job content is mainly administrative in nature may also be affected. Negotiations with the unions are being initiated immediately. The union organizations as well as the county employment board were notified today.

A very sharp focus will also continue to be made on increased productivity at the production facilities in Sandviken. Capacity utilization shall increase by at least 20%.

"Sandvik Steel's profitability is still insufficient, particularly in Sandviken. Costs must be reduced and efficiency increased to be able to achieve profitability goals and ensure a long-term positive development of the company," says Peter Gossas, President of Sandvik Steel.

Sandviken, 3 September 2002

AB Sandvik Steel