EANS-Adhoc: Villeroy & Boch AG
Villeroy & Boch signs a series of measures to
increase
its competitive ability
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Company Information
20.03.2009
Financial crisis forces the company to take action - Sites to be consolidated - Some 900 jobs eliminated worldwide - Annual savings of approx. EUR50 million - Costs of these measures will impact 2009 performance
In the meeting of the supervisory board that took place today, the executive board and supervisory board of Villeroy & Boch signed an extensive series of measures for its European sites. The goal is to increase the company's efficiency and productivity. The program focuses on consolidating fields of specialisation at particular sites, creating competence centres and continuing to automate production processes. The corporate group also plans to downsize its international staff of 9250 by some 900 positions. Discussions with employee representation have been initiated.
By 2011, after all of these measures are implemented, Villeroy & Boch anticipates being able to save some 50 million euros annually. In the 2009 business year, however, the costs of these measures will total around 60 million euros and will have a strong impact on this year's performance results. Approximately 25 million euros of investments in these measures are planned for the entire corporate group in 2009 and 2010.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Philipp Schmidt
Head of Investor Relations
Telefon: +49 (0)6864-81-1520
E-Mail: schmidt.philipp@villeroy-boch.com
Branche: Consumer Goods
ISIN: DE0007657231
WKN: 765723
Index: Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Original content of: Villeroy & Boch AG, transmitted by news aktuell