Swedish vegetable oils and fats maker Karlshamns has said it plans to invest around SEK60m (US$8.85m) in streamlining measures aimed at improving profits by 2006.

The company said the cost reductions are part of a far-reaching efficiency improvement programme, the overall goal of which is to increase the group’s profits by SEK100m from the year 2006 onwards.

“These proactive investments, all of which are part of our SEK100m programme, will make us substantially better equipped to handle the exceptional upsurge in competitiveness throughout our industry,” said Karlshamns’ president and CEO Jerker Hartwall.