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1 October 2003 - Rumours that Swedish microturbine engine manufacturer, Turbec is heading for bankruptcy have been dismissed by the company's managing director, Christer Tannander.

Tannander explained that the company is undergoing a restructuring programme that will see it cutting manufacturing volume by one fifth. "There was a 20 per cent reduction on last year's sales [at Turbec] and we are therefore adjusting to that accordingly by manufacturing less," he said, adding: "We believe the � microturbine market will be strong in the future and we are building on that now. Therefore, there is no reason for us to exit the business completely when a cost reduction programme will do."

The cost reduction programme has, so far, seen employees laid off coupled with the suspension of marketing activity at its North American arm early this year.

Turbec is an independent company, established in 1998 by ABB and Volvo Aero to develop microturbine technology for small-scale power generation.

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