STOCKHOLM, Sweden (Dec. 10, 2001)—Weak demand for agricultural tires is prompting Trelleborg A.B. to trim employment at its factory complex in Trelleborg, Sweden, by 156 workers.
Trelleborg Wheel Systems reported demand for its agricultural tires is down between 15 and 20 percent this year, with output of semi-finished goods at the Trelleborg plant down 40 percent as well.
To cover the restructuring, Trelleborg will take a charge against earnings of between $14.2 million and $18.9 million; the company said it expects to recover this in lower costs in two years' time. After the restructuring, Trelleborg Wheel's unit in Trelleborg will have 309 employees, the company said.