Porsche AG announces a contract extension with Valmet Automotive, a Finland-based producer of low-volume cars, through 2011. Valmet, which builds both the Cayman and Boxster sports cars for Porsche at its Uusikaupunki, Finland, plant, announced late last year it was trimming 260 jobs, or about 25% of its workforce. At the time, Valmet cited weakening demand for the models it produces as the reason for the cutback. The plant reduced builds from 150 cars daily to about 132 by late 2006. ...
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