SWITZERLAND: Schiesser To Close German Subsidiary

A fall in demand for its underwear products means that Swiss manufacturer Schiesser Group is to close its German subsidiary Schiesser AG in Radolfzell. The move will result in the loss of between 250 and 300 jobs, the business said. Schiesser's turnover in 2001 fell by 7.6 per cent on last year's figures to 230.9 million euro.