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Saab Ericsson Space to shed 80 people in Gothenburg

Saab Ericsson Space to shed 80 people in Gothenburg Saab Ericsson Space is to lose a further 80 personnel from its Gothenburg operation. The international market for telecommunications satellites remains weak, and Sweden's space budget has gradually been cut back over a number of years. Since its formation in 1992, Saab Ericsson Space has successfully marketed products for use onboard commercial telecommunications satellites. In recent years some 50 percent of the company's net sales have been generated in this field. However, only 5 new satellites were commissioned on the world market last year, compared to the normal 25- 30. The market is expected to remain weak for the next few years. This is largely a result of the general telecom crisis. "In a difficult situation like this, matters are not made easier by the fact that the state budget for space-related operations has continued to decrease, and there is nothing at present to indicate that appropriations are set to increase. Altogether this leads to a very distressing situation for Swedish space industry," says Bengt Mörtberg, President of Saab Ericsson Space. Personnel in construction, production and administration will be affected by today's official notice. Industrial co-determination talks will begin immediately. As with previous workforce reductions, the company is cooperating with TRR Trygghetsrådet career transition support and the Public Employment Services. Saab Ericsson Space AB's facility in Linköping and the subsidiary Austrian Aerospace in Vienna, Austria, are not affected by these latest measures. Saab Ericsson Space is an international, independent supplier of space equipment. The company's main products are computers, microwave electronics and antennas, control and separation systems, and thermal insulation material for use onboard satellites and launch vehicles. The company has its headquarters in Gothenburg, Sweden, a division located in Linköping, Sweden, and subsidiaries in Austria (Austrian Aerospace) and the USA (Saab Ericsson Space Inc). Saab Ericsson Space has approximately 600 employees, 420 of whom in Gothenburg. The company is jointly owned by Saab and Ericsson. For further information please contact: Lars Nordfeldt, Director Communications & Public Affairs Phone: +46 (0)31-735 43 12, Mobile: +46 (0)703-668 03 12, Fax: +46 (0)31- 735 45 00 www.saab.se www.space.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/2003/05/14/20030514BIT00240/wkr0001.doc http://www.waymaker.net/bitonline/2003/05/14/20030514BIT00240/wkr0002.pdf