Nordic Business Report-November 2, 2006-Valmet Automotive to decrease production rate and cut jobs
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Finnish speciality cars contract manufacturer Valmet Automotive Inc said on Wednesday (1 November) that its production rate will decrease.
The daily production rate will go down from 153 cars to 132 cars by the end of the year, and this will also lead to a reduced need for the work force.
A total of 42 fixed-term work contracts will terminate at the end of November, and the company has given a personnel negotiation proposal on a reduction need of about 80 employees.
Valmet Automotive, based in Uusikaupunki, Finland, is a brand-independent contract manufacturer of exclusive speciality cars. The company has some 1,100 employees. Valmet Automotive is owned by the Finnish engineering and technology company Metso Corporation.
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