PILKINGTON have dismissed new predictions of big job cuts and other 'surgical' streamlining measures as 'pure speculation'.

A number of industrial analysts were widely quoted at the weekend as saying that Paolo Scaroni, Pilks' new supremo is looking to transform the St Helens-based glass giants by slashing overheads and focussing on productivity in its factories.

One forecast predicted some 4,000 redundancies globally on top of the 1,200 already announced.

Pilkington gives results for the first six months of this year next week. And Scaroni was quoted in the Sunday Times as saying: "In glass, you make money in the factories. If you aren't efficient in the factories, you better go home."

Scaroni (who replaced Roger Leverton as chief executive five months ago) is thought to favour production methods as used in Italy and Spain. He is also thought to favour putting more responsibility in the hands of individual operatives.

The City certainly seems to favour Scaroni's philosophy. Shares in Pilkington had dropped to 110p before his appointment. Now they have risen to more than 160p.

But a spokesman for Pilkington dismissed these latest reports as pure speculation and said a statement would be made next Wednesday (Oct 29) when the company will be announcing details of its interim report.

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