Share:Kongsberg Maritime Ship Systems (KMSS) cuts expenditures

14.01.2003

Kongsberg Maritime Ship Systems has decided to institute cost-cutting measures aimed at saving MNOK 30 in 2003. Among other things, it is assumed the measures will lead to about 30 dismissals. Talks with union representatives have been initiated. "Having considered the competitive situation carefully, regrettably, we see no alternative to downsizing", comments Chairman of the Board Torfinn Kildal.

"The current measures are necessary to adapt to the international competitive situation and maintain profitability. Almost all the enterprise's customers and competitors are foreign, and our competitiveness has been seriously undermined as a result of the strong Norwegian NOK and Norway's high interest rates", continues Kildal.

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