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Thursday, 26th May 2005 (6352 views)

Yorkshire jeweller Abbeycrest has reported the shift of production to another country will offer it savings of £1 million a year.<br/><br/>The company recently reported a drop in profits caused by a business dispute, but is optimistic about future business.<br/><br/>Gold jewellery for the company is now being produced in Thailand, which the firm claims will boost the business in the longer term.<br/><br/>Chairman, Michael Lever, told the Yorkshire Post: "The group's major market remains in the UK and the difficulties experienced by many retailers since Christmas have been well documented.<br/><br/>"However, Abbeycrest will imminently be at the end of a two-year restructuring exercise. The group now stands able to begin to reap the benefits of volume manufacturing being performed in a low labour cost environment."<br/><br/>In addition a new state-of-the-art gem plant has been built next to the gold jewellery factory to help meet demand.<br/><br/>Abbeycrest's G&A subsidiary is also planning to trial a collection of fine jewellery with a major UK store chain in the run up to Christmas.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8595325"/>

 

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