EANS-Adhoc: Sunways AG Extensive restructuring at Sunways AG and Sunways
Production GmbH
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Restructuring & Recapitalisations
14.12.2012
Konstanz/Germany, 14 December 2012 - Sunways Production GmbH, a wholly-owned
subsidiary of Sunways AG (ISIN DE0007332207 / WKN 733220), operates a plant for
the production and development of solar cells in Arnstadt. Due to the current
economic situation in the solar industry, Sunways Production GmbH is presently
not in a position to operate profitably. Therefore, the Management Board, with
the consent of the Supervisory Board, today decided to significantly reduce the
production and development activities of Sunways Production GmbH until at least
a breakeven situation can be achieved again. With the restructuring measures it
is intended to reduce the current workforce of 120 by approx. 50 % at Sunways
Production GmbH.
Furthermore, the Management Board, with the consent of the Supervisory Board,
decided today to also reduce the number of employees across all locations at
Sunways AG as well as to restructure production to accommodate the present
market environment.
According to the Management Board's current plans, the aggregate number of 265
employees of the Sunways Group might be reduced by a total of 40 %. Relevant
talks will be initiated shortly with the works councils of Sunways AG in
Konstanz and Sunways Production GmbH in Arnstadt.
Further inquiry note:
Dr. Harald F. Schäfer
Head Corporate Communications and Investor Relations
Tel.: +49 (0)7531 996 77-415
E-Mail: communications@sunways.de
end of announcement euro adhoc
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issuer: Sunways AG
Macairestr. 3 - 5
D-78467 Konstanz
phone: +49 (0)7531 99677 0
FAX: +49 (0)7531 99677 10
mail: info@sunways.de
WWW: http://www.sunways.eu/de
sector: Alternative energy
ISIN: DE0007332207
indexes: CDAX, Technology All Share, General All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/general standard: Frankfurt
language: English