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Von Roll Holding AG
Regulatory Filings • Jul 5, 2016
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Regulatory Filings
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Ad-hoc | 5 July 2016 07:30
Planned changes at Von Roll Holding AG
EQS Group-Ad-hoc: Von Roll Holding AG / Key word(s): Restructure of Company
2016-07-05 / 07:30
Release of an ad hoc announcement pursuant to Art. 53 KR.
Planned changes at Von Roll Holding AG
Au / Wädenswil, July 5, 2016 – The activities of Von Roll Holding AG are focused on its core business of electrical insulation and attractive markets of the future such as electromobility. It has modernized its factories worldwide over the past few years.
Von Roll is continuing to follow this path rigorously. In addition to further investments of around CHF 30 million during the 2016 financial year, the company also plans to implement extensive measures to reduce its underlying fixed costs and increase its overall efficiency.
Essentially, Von Roll intends to
– Simplify its global management structure
– Transfer further production units
– Optimize its product portfolio
– Reduce administrative functional areas
– Streamline production processes
These measures would reduce annual fixed costs by more than CHF 18 million.
At the same time, there are plans to reduce headcount by up to 160 jobs, including around 50 in Switzerland. Consequently, the sites that are affected have introduced a consultation procedure or will due so in due course.
The restructuring costs are estimated to amount to some CHF 8 million. Implementing the planned reduction in numbers will enable some CHF 4 million to be saved during the 2016 financial year itself.
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission and industrial applications. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in around 30 sites with about 2,000 employees.
Contact:
Claudia Güntert, Corporate Communications
T: +41 44 204 3529, F: +41 44 204 3007, E: [email protected]
This press release is based on information currently available. Unforeseeable risks and influences may lead to discrepancies with the statements portrayed here. Furthermore, rounding differences may lead to discrepancies in the reported figures. For more detailed information on the company and business development, please see the Annual and Semi-annual Report of Von Roll Holding AG.
They are available in digital form at http://www.vonrollgroup.com/ .
End of ad hoc announcement
2016-07-05 News transmitted by Tensid EQS AG. www.eqs.com
| Language: | English |
| Company: | Von Roll Holding AG |
| Steinacherstr. 101 | |
| 8804 Au | |
| Switzerland | |
| Phone: | +41 44 204 3500 |
| Fax: | +41 44 204 3007 |
| E-mail: | [email protected] |
| Internet: | www.vonroll.com |
| ISIN: | CH0003245351 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; SIX |
| End of News | EQS Group News Service |