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Hygiene and Forest Company, SCA will save more, affecting some 1500 employees

Monday, 05 November 2012
Hygiene and forest company SCA is launching a new program of measures to reduce costs in the hygiene business. It was revealed at the company's Capital Markets Day in Stockholm.

"A new program has been initiated in the hygiene operations to further reduce costs and increase productivity. Program will yield annual cost savings of around EUR 300 million with full effect 2015. Approximately 1,500 employees are involved and the cost is estimated at around EUR100 million", says CEO Jan Johansson.

SCA has already, since last year started an efficiency program and has now reached more than half of the projected annual savings of EUR 80 million.
During the past year the company has made several major purchases but also sold businesses. Hygiene business accounts for 80 percent of SCA's sales with an emphasis on Europe, but increasing exposure to emerging markets.

The Company retains the financial targets of 13 per cent return on capital employed over a business cycle, debt to equity ratio of 0.70 percent and debt payment of 35 percent. The dividend policy is one third of operating cash flow, the company said in a statement.
By Scancomark.com
See press release from the company here and its website here

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