Consumables

Reduction in workforce of Cham Paper Group in Italy

Friday 09. May 2008 - The Italian Profit Centre Cartiera di Carmignano S.p.A., a subsidiaryof Cham Paper Group, announces that the implementation of themeasures to improve efficiency and profitability will result inadditional Investment and a reduction in workforce.

The investment of around CHF 4.1 millions apply to measures to improve productivity atthe two mills Carmignano and Condino for the next twelve months.Around 50 of the total 383 jobs will be cut until the end of 2008,half of it through natural fluctuations. A redundancy plan will bedeveloped with labour unions.These measures will strongly improve the competitiveness of bothmills and will result in annual cost savings of approximately CHF 4.9millions.