AT&S Austria Technologie & Systemtechnik AG

Legal Proceedings Report • Oct 4, 2001

News Details

Ad-hoc | 4 October 2001 18:45

AT&S Austr. T. & Systemt. english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– In the Supervisory Board Meeting of AT&S Austria Technologie & Systemtechnik AG on October 4, 2001, it was decided to close down its lossmaking plant in Augsburg, Germany. This decision was made under the condition that no economically feaseable solutions can be found by the Bayerische Staatskanzlei and the IG Metall until October 31, 2001. In fiscal year 2000/01 this plant contributed 10% to AT&Ss revenues. In the current fiscal year Augsburg had a negative contribution to net income of Euro 8.4 mio. 400 employees in Augsburg are effected by the closure of this plant. Negotiations with the work council will start immediately. The expected pretax costs of the closure will be up to Euro 16 mio. and will be effective in the results of the third quarter of AT&Ss fiscal year that started April 1. In contrast to the telecom infrastructure market segment, the target market for AT&S Augsburg, the other markets start to show positive signs of improvement, leading to higher capacitity utilizations in the remaining plants. However, visibility still remains low in almost all markets, prohibiting clear guidance for the fiscal year. If you have any inquiries please contact Sylvia Zarfl, Investor Relations Tel: +43-3842 200 211 end of ad-hoc-announcement (c)DGAP 04.10.2001 ——————————————————————————– WKN: 922 230; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 041845 Okt 01