March 26, 2014 / 9:27 AM / 4 years ago

Finland's Fiskars to close factories in Italy

HELSINKI, March 26 (Reuters) - Finnish kitchen utensils and tools group Fiskars said it plans to close two knife factories and a warehouse in Italy and cut up to 58 jobs due to weak local demand.

The company said the Italian restructuring is part of its previously announced savings programme which aims to cut costs by 9 million euros ($12.4 million) to 11 million euros a year.

Fiskars last year acquired Danish porcelain maker Royal Copenhagen, which boosted the group’s total sales to around 800 million euros ($1.1 billion). ($1 = 0.7258 Euros) (Reporting By Jussi Rosendahl; Editing by Erica Billingham)

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