The Italian Profit Centre Cartiera di Carmignano S.p.A., a subsidiary of Cham Paper Group, has announced that the implementation of measures to improve efficiency and profitability will result in additional investment and a reduction in its workforce.

 

The investment of around CHF 4.1 million (EUR 2.53 million) applies to measures to improve productivity at the Carmignano and Condino mills over the next twelve months.

 

Around 50 of the 383 strong workforce will be cut by the end of 2008, half through natural fluctuations. A redundancy plan will be developed with labour unions.

 

Cham Paper claims that these measures will strongly improve the competitiveness of both mills and will result in annual cost savings of approximately CHF 4.9 million (EUR 3 million).