MOVE OF THE STANWELL PIPE PRODUCTION

The future contract manufacturer will be a company with a long history of producing pipes of a quality, which can match the present superior quality of Stanwell.

The future set-up will ensure that in the years to come Stanwell will maintain the high quality of the Stanwell pipes at competitive prices. The continued drop in sales of pipes in Denmark and on Stanwell’s many export markets has made it difficult to maintain a cost-efficient production at the Stanwell factory. The number of pipes sold annually has thus since 1995 dropped from 126,000 to 65,000 in 2008.

The change will regrettably affect 17 employees at the production facility in Borup Denmark, and we regret to have to say goodbye to trusted employees and a unique era of pipe production in Denmark.

The production at Stanwell’s present factory will be phased out gradually during the coming months, and the factory in Borup will be finally closed by December 31, 2009.

All Stanwell employees will be offered an individual plan ensuring the best possible preparation for re-entry into the labour market.

Søren Lundh Aagaard, Managing Director of Stanwell A/S, will continue to be responsible for the Stanwell activities after the closing of the factory. The company will continue to develop and market quality pipes in exclusive designs and secure the future of the Stanwell pipe brand.