According to newspaper reports, French leather goods group Le Tanneur has announced its intention to sell its factory in Belley. A buyer has been found and the deal is expected to go through some time in the second quarter of 2002. There have been some assurances that all 80 staff will be retained.

The leather goods group lost Eur5.5 to Eur6 million ($4.9 million to $5.36 million) in 2001 and will claw back up to Eur1 million from the sale. The operation in Belley had suffered the loss of its biggest client, which accounted for 80% of the factory’s output.

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