Last updated: August 3, 2015
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Hard-hit eastern European business takes further action to cut costs
Distributor ASBIS has liquidated its inactive subsidiary company ASBIS DE GmbH as it moves to address customers in Germany directly and so cut administrative expenses. The company's overall position has been severely impacted by double digit declines in its business in Russia and the Ukraine, so it is looking for more savings options. It says that the closure of this subsidiary will not have any impact on the operations in Germany.