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Home BUSINESSSandvik to close down next year
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Fri, 27 Mar, 2015 12:02:38 AM
FTimes – STT Report, Mar 27
 
mechanical engineering company Sandvik's Turku plant on Thursday, 26 March 2015. Photo – Str / Lehtikuva.
Mechanical engineering company Sandvik is considering to close down its Turku factory by the end of next year. The factory currently employs about 470 people.
 
The company spoke of beginning co-determination negotiations, which affect the entire staff of the factory.
 
The Tampere factory has also negotiated reductions. The negotiations in Tampere may lead to as many as 30 layoffs. Sandvik is trying to reduce costs because demand for mining and energy industry products has declined.
 
"The location of production affects essential and growing market position, as well as the suitability of the different units in the new business model," the company explains in a statement.
 
Sandvik employs a total of 1700 people in Finland.
 
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