Brief: Mikron Aligns Capacity And Structures To Changed Market Circumstances

Mikron Holding AG

20/05/2020 06:16

May 20 (Reuters) - MIKRON HOLDING AG  MIKN.S :
    * 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: https://bit.ly/3e50nDI
Further company coverage:  MIKN.S 

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