Swedish engineering group Sandvik (OMX: SAND) continues to move its operations closer to growth markets. About 500 jobs are now threatened in Finland as the entire 470-employee site in Runosmäki, Turku is facing closure. Another 30 jobs are at risk in Tampere unit. Sandvik entered Finland in 1997 when it bought the iconic Tampella Tamrock Oy and later renamed the unit Sandvik Mining and Construction Oy and employs about 1700 people at this time.
Turku factory manufactures underground loaders such as Sandvik Lh514 and underground trucks (dumpers etc). It has been at the forefront in bringing new innovative products to the market with machining, assembly, welding, painting and testing done at the site. Sandvik Mining business unit has provided most challenges to the company in the last couple of years as the sector downturn persists. In total up to 10 Sandvik factories worldwide may be closed.
No comments:
Post a Comment