SGL says up to 300 jobs affected by cutbacks

FRANKFURT Tue Dec 10, 2013 9:42am EST

FRANKFURT Dec 10 (Reuters) - German carbon specialist SGL Group, which helps make carbon fibre reinforced parts for BMW's electric compact car i3, said on Tuesday that up to 300 jobs would be affected by its ongoing cost cutting programme.

Of the 150 million euros ($206 million) in annual cost savings it aims to achieve by the end of 2015, 50 million euros will be realised in 2013, it added.

SGL announced in September it would reduce its annual costs by about 150 million euros by the end of 2015 as it seeks to counter a slump at its graphite electrodes and carbon fibre businesses.

($1 = 0.7289 euros) (Reporting by Ludwig Burger)