EPS specialist Hirsch Servo (Glanegg / Austria; www.hirsch-gruppe.com) has introduced a “comprehensive cost reduction programme” at its Glanegg headquarters to strengthen equity and financial power. The initiative is centred on cutting fixed expenses and also makes redundant 24 positions. In addition, Hirsch Servo’s managing board is recommending that no bonuses be paid for 2008 and 2009. The company said its decision enjoyed the backing of key shareholder Kurt Hirsch Holding, run by company founder and board spokesman Kurt Hirsch – see Plasteurope.com of 15.01.2009.

Hirsch Servo manufactures EPS moulds and foam slabstock as well as providing the corresponding technology. The company employs some 600 workers at plants located in Austria, Hungary, Poland, Slovakia, Italy and Romania. Company turnover in 2008 stood at about EUR 100m. Hirsch Servo is listed on the Vienna stock market.