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New lease of life for restructured M2 Engineering

Swedish equipment manufacturer M2 Engineering AB is completing this month the restructuring of its operations initiated last April in response to the continued slowdown in the demand for optical media production equipment.

The company says that "all aspects of the current business and organization have been evaluated and necessary measures have been taken to ensure the long-term viability of the company." A significant reduction in operating costs has been implemented to reflect the reality of the core business in optical media production equipment.

"The in-house engineering resources and the established global sales, service and manufacturing capability have been maintained to support existing customers and allow a diversification into other business sectors where a global presence will also be required," says the communique.

R&D projects have continued "at full pace" during the last year. Significant advances have been made in new techniques and process technologies in the fields of injection moulding and photovoltaic production. These will form the foundation for the further development of the company.

A primary requirement of the restructure has been raising new capital. Investment has now been secured by means a new share issue that is to be guaranteed by the existing shareholders such as co-founder Carl G Langenskiold, as well as further investments by leading industrialist Sheikh Mohammed Al Amoudi.

Story filed 08.01.08

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