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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.

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.

swissinfo with agencies


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