Brief: Voestalpine Reorganizes Automotive Component Business In Germany

Voestalpine AG

18/10/2024 13:16

Oct 18 (Reuters) - VOESTALPINE AG  VOES.VI :
    * VOESTALPINE AG - REORGANIZES AUTOMOTIVE COMPONENTS
BUSINESS IN
GERMANY, CREATING FUTURE PROSPECTS FOR AROUND 2,000 EMPLOYEES
    * VOESTALPINE AG - IN FUTURE, PLANTS IN DETTINGEN, SCHMÖLLN,
SCHWÄBISCH GMÜND, AND BÖHMENKIRCH WILL FORM A JOINT PRODUCTION
NETWORK
    * VOESTALPINE AG - OPERATIONS IN BIRKENFELD WILL BE
DISCONTINUED
SUBJECT TO OUTCOME OF NEGOTIATIONS WITH WORKS COUNCIL AND IG
METALL
    * VOESTALPINE AG - EXPECTED FINANCIAL IMPACT OF
REORGANIZATION HAS
ALREADY BEEN COMMUNICATED AND IS INCLUDED IN OUR EARNINGS
FORECAST FOR ONGOING BY 2024/25 (EUR 1.4 BILLION EBITDA)
    * VOESTALPINE AG - REORGANIZATION AND CONSOLIDATION OF
COMPETENCIES ALSO INVOLVES A RESTRUCTURING OF CORPORATE
FUNCTIONS
    * VOESTALPINE AG - AROUND 220 EMPLOYEES WILL BE IMPACTED BY
PLANNED CLOSURE OF BIRKENFELD LOCATION
    * VOESTALPINE AG - AROUND A THIRD OF CURRENT WORKFORCE OF
650
EMPLOYEES COULD BE AFFECTED BY THIS PERSONNEL ADJUSTMENT AT
DETTINGEN LOCATION

Further company coverage:  VOES.VI 

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