Dec 10, 2003 (NORDIC BUSINESS REPORT)-- Finnish industrial group Raisio Group Plc said that its subsidiary Raisio Nutrition had concluded its personnel negotiations, and as a result, its Grain Starch Business would be closed at the end of August 2004 and 38 jobs would be cut.
The company said that it had been able to offer some employees new jobs in Raisio Nutrition.
In addition Raisio Nutrition would also cut another 79 jobs, the majority in the Raisio plant area.
Raisio said that with the cutbacks Raisio Nutrition would achieve annual cost savings of some EUR5m.
Raisio Nutrition has also started personnel negotiations in Sweden regarding its margarine business and closure of the margarine plant. The negotiations concern some 40 employees, according to the company.