On March 16, Sweden-based BE Group, a trading and service company for steel and other metals in Europe, announced that it is closing its sales office in Denmark that consists of seven employees.
The decision to close the operation in Denmark has been motivated by profit development in recent years, BE Group said.
The operation will be closed with immediate effect. The total cost for the closure is estimated at approximately SEK 4 million, which will be charged against earnings for the first quarter of 2011.
"The Danish operation has not developed as we had expected. The difference in the structure of the business compared with our other markets also contributed to the decision," said Roger Johansson, president and CEO of BE Group. "We are resolute in focusing our resources to those markets where we see the greatest potential for profitable growth, and that simply is not the case in Denmark," he added.