Cost-Cutting Measures Have Promising Effect

The Vetropack group recorded losses of SF 500,000 for 1998, compared to the previous year's (SF10.9m). The improved figures were the result of cost-cutting measures, including a reduction in the workforce to 2636 from 2907 in 1998 and increased export sales. The group will continue the measures designed to increase earnings and to strengthen its presence in Central and Eastern Europe. (whole item)