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4M Technologies delays results

Shares in the technology group, 4M Technologies, have taken a dive after the company postponed the publication of its third quarter results planned for Thursday.

This content was published on November 22, 2000 - 11:17

The company's board said the results would now be released next Thursday to allow more time for negotiations to agree more financing.

The board said it would also be in a position next week to present details of its restructuring plans

The producer of CD manufacturing equipment intends to cut around a fifth of its global workforce of around 300. The move is not expected to affect the company's site in canton Vaud.

4M admitted to having cash-flow difficulties in September. It envisages annual losses of around SFr20 million ($11 million) blaming over-capacity in the industry.

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