May 20, 2020 / 5:18 AM / 3 months ago

BRIEF-Mikron Aligns Capacity And Structures To Changed Market Circumstances

May 20 (Reuters) - MIKRON HOLDING AG:

* ALIGNS CAPACITY AND STRUCTURES TO CHANGED MARKET CIRCUMSTANCES

* MEASURES ADOPTED WILL INCUR RESTRUCTURING COSTS AND VALUATION ADJUSTMENTS IN ORDER OF CHF 15 MILLION

* THESE ONE-TIME COSTS WILL IMPACT FIRST HALF OF 2020 AND MIKRON GROUP'S OPERATING PROFIT DURING REST OF YEAR, AND WILL LEAD TO A SIGNIFICANT NEGATIVE RESULT FOR FULL FINANCIAL YEAR

* AGREEMENT WAS REACHED TO REDUCE MACHINE MANUFACTURING IN AGNO FROM CURRENT 340 FTE TO AROUND 280 FTE

* THIS ADJUSTMENT WILL INVOLVE 47 REDUNDANCIES AND REDUCING WORKING HOURS OF A FURTHER 57 EMPLOYEES

* AT ROTTWEIL SITE IN GERMANY, MACHINE TOOL ASSEMBLY WILL BE DISCONTINUED, AND FTE COUNT WILL BE REDUCED FROM 150 TO 100. Source text: bit.ly/3e50nDI Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below