Georg Fischer: Shutdown of PVC pipe facility
Georg Fischer is to end production of PVC pipe fittings in Italy and transfer manufacturing to its plastics products plant in Schaffhausen, Switzerland. The Swiss industrial systems manufacturer is undertaking a major restructuring effort following an unsatisfactory mid-year result and pessimistic forecasts for the economy. The closure will affect 30 employees at Georg Fischer TIL in Genoa. The piping systems group recorded sales of SFr380m (E247m) in the first half of 2003, a 4% decline on the same period last year.