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Swissmetal back on track

Swissmetal has recorded nine-month net profit of SFr11.7 million ($20.7 million). The company said orders were up 50 per cent on the same period last year.

Orders were swollen by increased demand from the domestic market as well as France, Italy, the United States and the Far East. The German market remains more subdued.

The company's head, Nadine Minnerath, has also been outlining the group's new strategy.

Swissmetal will in future focus on its core activities. The restructuring will cost 30 to 40 jobs in at the company's metalworks in Dornach.

Swissmetal has a workforce of around 1,150.

Minnerath said the reorganisation should allow turnover to increase to SFr50 million by the year 2005. Net profit is expected to grow by 10 per cent a year.

swissinfo with agencies


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