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Komplett ASA (OSL:KOM) Given the slowdown in market growth and high price erosion in some of Komplett's main product areas, and to benefit from synergies in connection with the acquisition of inWarehouse AB, the Komplett Group is introducing a cost-cutting programme.
The programme will commence immediately, and the effects will filter through gradually in 2008 and 2009. Significant elements being introduced at this point are:
* Sale of inWarehouse's concept stores in Sweden to MacSupport AB as from 1 October 2008.
* Being planning to gather all the group's distribution activities for Scandinavia under one roof.
* General cuts in the workforce at the sites in Gothenburg and Sandefjord, focusing mainly on casual employees and natural attrition.
* Simplification of the company's operations, including a reduction in the number of subcontractors.
* Economisation through better utilisation of earlier investments in logistics systems.
* Bringing together of the Group's purchasing functions for Scandinavia in Sandefjord.
The long-term goal is to reduce the company's expenses by about MNOK 100 on an annual basis.
The measures have been initiated to enhance Komplett's competitiveness, enabling the Group to be better prepared for a more challenging market situation in future.
For further information, please contact Ole Vinje CEO Tel: +47 90 08 94 21 or ole.vinje@komplett.com
