Brief: Cicor: Consolidates Thin-Film Technology Business In Wangs

Cicor Technologies

18/10/2024 06:03

Oct 18 (Reuters) - Cicor Technologies Ltd  CICN.S :
    * CONSOLIDATES ITS THIN-FILM TECHNOLOGY BUSINESS IN WANGS
    * ENABLE CICOR TO REDUCE COMPLEXITY, INCREASE FLEXIBILITY
AND
STRENGTHEN RISK MANAGEMENT
    * EMPLOYMENT RELATIONSHIPS OF APPROXIMATELY 30 PEOPLE
AFFECTED BY
THIS DECISION WILL BE TERMINATED AS OF JUNE 30, 2025
    * ALL EMPLOYEES WILL BE OFFERED OPPORTUNITY TO RELOCATE TO
WANGS
SITE OR, IN INDIVIDUAL CASES, TO WORK IN A SALES ROLE IN ULM
REGION
    * RESTRUCTURING WILL HAVE A SIX-DIGIT CHF IMPACT ON CICOR
GROUP'S
EBITDA IN CURRENT YEAR
    * GUIDANCE FOR 2024 AND MID-TERM TARGETS WILL NOT BE
AFFECTED BY
THIS MEASURE
    * TO DISCONTINUE THIN-FILM PRODUCTION AT ULM SITE IN GERMANY
BY
END OF JUNE 2025

Source text for Eikon:  ID:nEQ1GmJP6a 
Further company coverage:  CICN.S 

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