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Saab Barracuda AB in Gamleby to shed production personnel

Saab Barracuda AB in Gamleby to shed production personnel Due to weak order bookings, Saab Barracuda AB in Gamleby has today given notice to 23 employees. The move affects production personnel in Gamleby. "The dismissals we implemented in the spring were unfortunately insufficient," says Mats Warstedt, President of Saab Barracuda AB. "A lot of important customers have decided to postpone their planned procurement of camouflage and other signature management products, which means we still have overcapacity. This latest move should be viewed as an adaptation in line with demand in the industry." Saab Barracuda AB is located in Gamleby, Sweden, and develops, manufactures and markets products for multi-spectral protection against detection and identification through signature management. The company is a world leader in its field with subsidiaries in five countries, and representatives and customers in 50 countries. Saab is one of the world's leading high-technology companies, with its main operations focusing on defense, aviation and space. The Group covers a broad spectrum of competence and capability in systems integration. For further information please contact: Mats Warstedt, President, Saab Barracuda AB, phone: +46 (0)493 148 00 www.saab.se www.barracuda.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/06/10/20030610BIT00860/wkr0001.doc http://www.waymaker.net/bitonline/2003/06/10/20030610BIT00860/wkr0002.pdf