Arjo Wiggins to axe 280 jobs
Saturday 05 June 1999
The cuts are part of a reorganisation announced by the maker of the Conqueror brand in January and follow the closure in April of the group's carbonless paper manufacturing plant in Cardiff, which triggered 450 job losses.
Ken Minton, executive chairman, said: "This concentration of manufacturing on fewer sites, coupled with the restructuring of these, will lead to substantial gains in productivity and reduced costs."
Analysts pointed to a less inflationary environment creating a new climate for the sector and said the restructuring was realistic and did not compromise production.
Since January Arjo Wiggins shares have risen more than 54 per cent, almost double the increase in the FTSE Forestry and Paper index.
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