Adval Tech Holding AG

Regulatory Filings • Jan 15, 2015

News Details

Ad-hoc | 15 January 2015 07:00

Adval Tech Group adjusts capacities at Styner+Bienz in Uetendorf and Niederwangen

Adval Tech Group adjusts capacities at Styner+Bienz in Uetendorf and Niederwangen
Niederwangen, January 15, 2015, 7.00 a.m. – Adval Tech Group is adjusting capacities at Styner+Bienz FormTech AG in Uetendorf and Niederwangen (Switzerland). A number of the products that the Uetendorf and Niederwangen sites manufacture for the automotive industry, the majority of which are exported to the EU, are reaching the end of their life cycle. In addition, the persistent strength of the Swiss franc against the euro is making it hard to acquire replacement orders. As a result of this situation, the Group is obliged to cut 17 jobs at Styner+Bienz FormTech AG. Management is endeavoring to alleviate the effects of the job losses by means of a redundancy scheme. Adval Tech Group employs around 1,700 people worldwide. The aim of the measure is to sustainably reduce operating costs at the Styner+Bienz FormTech AG subsidiary.
Contact Valeria Poretti, Head Corporate HR/Communication, phone +41 31 980 82 66; valeria.poretti@advaltech.com Background information about the Adval Tech Group Adding value through innovation – that’s what Adval Tech stands for. Adval Tech is the partner of choice – for high-volume components manufactured in metal and plastic and for high-performance molds for the production of plastic components. In the components business, Adval Tech focuses on the automotive market and on related applications. Adval Tech’s principal markets in the mold-making segment are consumer and personal care, packaging, medical and automotive. Adval Tech covers the entire value chain as a one-stop-shop, from product development to prototyping, to mold and tool development, through to component production and assembly. Agenda End of March, 2015 – Announcement of the results for the 2014 financial year April 28, 2015 – Conference for financial analysts and press conference on annual report 2014 April 28, 2015 – Publication of the annual report 2014 May 21, 2015 – General meeting of shareholders 2015