Henkel AG & Co. KGaA

Business and Financial Review • Nov 25, 2004

News Details

Ad-hoc | 25 November 2004 17:10

Henkel continues restructuring program

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Henkel continues restructuring program Due the situation in the key markets which remains challenging, competition becoming increasingly global and the cost pressure from low-wage countries even more acute, the Henkel KGaA Management Board on November 25, 2004 has decided on the basics of a new restructuring program. Besides the restructuring costs already planned for 2004, Henkel is expecting to accrue additional provisions of about 400 million euros for restructuring measures between 2004 and 2006. The future savings anticipated from the program will amount to some 125 million euros per annum from 2007. The priority of the new restructuring program will be to reorganize production sites and to streamline administrative departments. Beyond that it will also exploit the improvement potential in the context of acquisitions. In principle this will affect all business sectors with the primary focus on Europe and Germany. The program will also entail a loss of some 3,000 jobs worldwide by 2006. Actual details of the program will be determined after specifying the various individual measures and consulting with the affected employee representatives, taking into consideration country-specific statutory regulations. end of ad-hoc-announcement (c)DGAP 25.11.2004 ——————————————————————————– WKN: 604843; ISIN: DE0006048432; Index: DAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart 251710 Nov 04