Brief: KAP To Conclude Reorganisation Measures In 2020

Kap AG

27/01/2020 15:29

Jan 27 (Reuters) - KAP AG  IURG.DE :
    * REORGANISATION MEASURES TO BE CONCLUDED IN 2020
    * A TOTAL OF AROUND 165 EMPLOYEES ARE AFFECTED BY
REORGANISATION
MEASURES
    * DECREASING DEMAND FROM AUTOMOTIVE INDUSTRY REQUIRES
CAPACITY
ADJUSTMENTS
    * INTENTION IS TO IMPLEMENT REORGANISATION MEASURES IN FULL
IN
2020 FINANCIAL YEAR
    * ABOUT 80 JOB CUTS IN PRODUCTION AND ADMINISTRATION AT
FULDA SITE
AND AROUND 85 JOB CUTS AT CZECH SITE
    * EXPECTS INITIAL POSITIVE EFFECTS AS EARLY AS 2021
FINANCIAL YEAR
    * EXPENSES ASSOCIATED WITH AFOREMENTIONED REORGANISATION
MEASURES
WILL ONLY AFFECT GROUP'S DEVELOPMENT IN 2020 FINANCIAL YEAR AND
WILL BE IN SINGLE-DIGIT MILLIONS
    * IN MEDIUM TERM WANTS TO MANAGE ENGINEERED PRODUCT SEGMENT
IN
LINE WITH OUR TARGET RETURN - AN ADJUSTED EBITDA MARGIN OF AT
LEAST 10%

Source text for Eikon:  ID:nEQ7y3ln6a 
Further company coverage:  IURG.DE 

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