Swedish Match is among the market
leaders in the world market for lighters in the quality segment.
Swedish Match's most important markets are Western and Eastern
Europe, parts of Asia, Africa and Latin America. Production takes
place in four production units, located in Manila in the
Philippines, Lyon in France, Assen in the Netherlands and Manaus
Reduced demand in Swedish Match's
main markets in Asia and Russia, and increased low price
competition, makes it necessary for the Group to adapt production
capacity to the worsened market situation to improve
Against this background, Swedish
Match has initiated talks with local workers’
representatives to discuss the possibility of closing down the
lighter manufacturing plant in Lyon, France.
Swedish Match has signed an
agreement to acquire 40 percent of Indonesia's largest producer
of matches, P.T. Java Match Factory (Jamafac). The company has
production units in Jakarta and Bandung. In 1998, sales amounted
to SEK 146 million, and profitability was good.
Cooperation between Swedish Match
and P.T. Jamafac, which was initiated in 1971 and expanded in
1996, has now been formalized in a joint venture agreement aimed
at strengthening Swedish Match’s position in Southeast Asia.
Swedish Match is an international
group with headquarters in Stockholm, Sweden. The company
manufactures tobacco products, matches and disposable lighters.
The products are sold in approximately 140 countries.
Annual sales in 1997 amounted to
approximately SEK 7,500 M. Swedish Match is listed on the
Stockholm Stock Exchange and NASDAQ.
For further information:
Sven Hindrikes, Senior Vice
President and Chief Financial Officer tel: +46-8-658 02 82
Bo Aulin, Senior Vice President, Corporate Affairs tel: +46-8-658
Boel Sundvall, Vice President, Investor Relations tel: +46-8-658