"We understand that this is difficult news for our affected employees, and we will support them during this period," says Andreas Jähnke, President Product Area Electro & Mechanical Technology.

As part of Höganäs’ strategic goal to become the preferred supplier of sustainable metal powder, the company is continuously evaluating its business to ensure alignment.

"Efforts have been made to refine the product portfolio, optimise costs, enhance efficiency, and strengthen customer relationships, in addition to looking for synergies with the Höganäs group. Unfortunately, these efforts have not led to the required improvements, making this decision necessary," explains Andreas Jähnke.

The closure of Alvier PM is expected to be completed no later than Q2, 2024. Höganäs remains committed to supporting its employees through this transition.