Senvion S.A. / Key word(s): Restructure of Company
Disclosure of an inside information pursuant to Art. 17 of the EU Market Abuse Regulation (EU 596/2014, MAR)
Senvion S.A.: Restructuring measures of Senvion Group in order to enhance competitiveness
13 March 2017 / 08:00 CET
The executive board of Senvion S.A. as parent company of Senvion Group decided on 12. March 2017 to implement measures to enhance the competitiveness.
In view of the growing competition and a tougher pricing environment for wind turbines, it is intended to increase the competitiveness of Senvion Group by consolidating the production footprint and by reducing employee and operating expenses.
For this purpose and according to the measures adopted by the executive board of Senvion S.A. parts of the production shall be relocated and several locations in Germany shall be shut down, inter alia the facilities of Senvion GmbH in Husum, in Trampe and the location of PowerBlades GmbH in Bremerhaven. In addition, some employees at other locations shall be reduced as well in order to enhance organizational efficiency.
The measures will lead to a net reduction of about 660 employees (calculated on the basis of full time employees) which will be mostly in Germany.
The executive board of Senvion S.A. assumes that the restructuring will result in a reduction of the employee and operating expenses in total of annually approx. 40 Million Euro . The one-off restructuring costs cannot be specified at the present moment. However, the executive board assumes that the savings will outweigh the restructuring costs by the end of the year 2018 at the latest.
Person making the notification and contact,
ISIN LU1377527517 (Aktie)
Listed Regulated Market in Frankfurt (Prime Standard); [any other trading places need to be listed here]
phone: +44 20 7034 7992
mobile: +44 7788 390 185
|46a, avenue John F. Kennedy|
|Grand Duchy of Luxembourg|
|Phone:||+352 26 00 5305|
|Fax:||+352 26 00 5301|
|ISIN:||LU1377527517, XS1223808749, XS1223809390|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Dublin, Luxemburg|
|End of Announcement||DGAP News Service|