LONDON (June 24)—SSL International P.L.C. has launched another strategic review, this one in the areas of manufacturing and logistics, aimed at further streamlining the company. The probe is aimed at creating greater efficiencies within the two sectors, a spokesman said. "This will be a step-by-step review," he said. "It will take much longer to complete (than the restructuring probe). We're primarily looking at efficiency." SSL has eliminated about 300 jobs, closed its Toft Hall headquarters in Cheshire, England, and relocated its base to a smaller corporate facility in central London, as part of its initial efforts to trim costs and become more efficient during the last year. It also closed a polyurethane condom site in Sawston, England, and transferred that production to its joint venture in India. Those initiatives have resulted in savings of about $20 million annually thus far, according to a company spokesman. The cost base from that end of its business is expected to shrink by more than $30 million, Chairman Ian Martin and Chief Executive Brian Buchan said in the firm's fiscal year-end financial report, issued June 5.
SSL launches new strategic review
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