Nippon Sheet Glass (NSG) is to close two factories in Europe as it continues to battle the effects of the global economic crisis.
The group’s European Automotive Glass division plans to close its Ylöjärvi plant in Finland, which employs 320 people, and its Landskrona site in Sweden, which makes toughened glass and employs 100 people.
NSG is in the middle of a global restructuring programme as it bids to cope with continuing low demand in key markets, including the car industry.
It said: “The group is taking action to reduce capacity and output to match the requirements of its customers, consistent with its restructuring programme, originally announced on February 2, 2012. These closures are expected to be completed during the calendar year 2013.
It said the closures would cost it €31 million, but could boost profits by €14 million a year.
