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NORMA Group SE
Board/Management Information • Nov 5, 2019
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Board/Management Information
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Ad-hoc | 5 November 2019 11:12
NORMA Group rolls out Change Program ‘Get on track’
NORMA Group SE / Key word(s): Strategic Company Decision/Miscellaneous
NORMA Group rolls out Change Program ‘Get on track’
05-Nov-2019 / 11:12 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Maintal, November 5, 2019 – Today, the Supervisory Board of NORMA Group SE (ISIN DE 000A1H8BV3 / WKN A1H8BV, ‘NORMA Group’), a global market leader in engineered joining and fluid-handling technology, has approved a change program “Get on track”, as resolved by the Management Board.
The aim of this program is to increase NORMA Groups’ profitability and flexibility. It includes the optimization of site capacities across all regions, a streamlining of the product portfolio, in particular through an active portfolio management, as well as improvements in purchasing.
The change program should result in cost savings starting in 2020, which shall increase until 2023 to annually EUR 40 million to EUR 45 million. The accumulated total cost volume for the implementation of the measures is expected to be around EUR 45 million to EUR 50 million until 2023. The costs incurred in the program will be shown on an unadjusted basis.
The program “Get on track” includes measures that go beyond the “Rightsizing program” already communicated.
Contact:
Andreas Trösch
Vice President Investor Relations
E-mail: [email protected]
Phone: +49 (0)6181 – 6102 741
Information and Explanation of the Issuer to this News:
Gemäß § 3 a WpAV und Ziffer 9 FAQ MAR gehen wir davon aus, dass die deutsche Version der Selbstbefreiungsbeschlüsse genügt bzw. eine englische Übersetzung nachgereicht werden könnte.
05-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | NORMA Group SE |
| Edisonstr. 4 | |
| 63477 Maintal | |
| Germany | |
| Phone: | +49 6181 6102 741 |
| Fax: | +49 6181 6102 7641 |
| E-mail: | [email protected] |
| Internet: | www.normagroup.com |
| ISIN: | DE000A1H8BV3 |
| WKN: | A1H8BV |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 904537 |
| End of Announcement | DGAP News Service |