Vivanco Gruppe AG

Management Reports • Jul 21, 2003

News Details

Ad-hoc | 21 July 2003 14:30

Vivanco Gruppe AG english

Sustainable cost reduction through closure of the operation in Trappenkamp Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Ahrensburg, 21 July 2003: As part of the systematic implementation of the restructuring concept drawn up for Vivanco Gruppe AG in collaboration with the consultancy Roland Berger, the Management Board and the Supervisory Board have decided to close, with effect from 31 December 2003, the operation at the Trappenkamp location, whose results contributed significantly to the Group’s losses in the 2001 and 2002 financial years. In line with the strategic re-orientation of Vivanco, all production will be transferred to sub-suppliers in the Far East and the Vivanco subsidiary in France. All of the functions, such as logistics, which have until now been performed at Trappenkamp will be concentrated at the headquarters in Ahrensburg. Vivanco expects from this measure considerable and lasting cost savings, further synergetic effects as well as a strengthening of the main location at Ahrensburg. However, in the short term, Vivanco anticipates a once-off charge on the Group result for the financial year 2003. end of ad-hoc-announcement (c)DGAP 21.07.2003 ——————————————————————————– WKN: 760290; ISIN: DE0007602906; Index: Listed: Amtlicher Markt in Frankfurt (General Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, München und Stuttgart 211430 Jul 03