Hirsch Servo recovers from crunch effects

Carinthian machine and packaging manufacturer Hirsch Servo AG managed to reduce its losses in the past business year.The company said today (Fri) it suffered net losses of 6.2 million Euros in the 2009/2010 business year, down by 4.5 million Euros year on year.Hirsch Servo, which managed to keep its turnover stable at around 86 million Euros, said it expected to achieve a turnaround in the current business year.The technology firm, which has its headquarters in Glanegg, explained it would continue to carry out restructuring measures in a bid to raise efficiency. It recently reduced its executive board to two members.Hirsch Servo had 631 employees last year, 12 fewer than in 2008.