EANS-Adhoc: ANDRITZ: Further optimization of Schuler Group's value chain
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other/Company Information
26.08.2015
Graz, August 26, 2015: The Schuler Group, part of the ANDRITZ GROUP and
headquartered in Göppingen, Germany, will further optimize its value chain by
the end of 2017. The measures are a continuation of the steps successfully taken
during the past two years to better adjust Schuler's organizational and cost
structure to the market requirements.
The measures adopted will lead to a reduction of production capacities with a
stronger focus of production on core competencies. All engineering locations in
Germany will be maintained.
The financial provisions required to implement these measures will amount to
around 55 million euros for the Schuler Group and will be booked to a large
extent in the third quarter of 2015. For 2015, Schuler expects sales to exceed
the prior-year figure of around 1.2 bn. EUR. The operating result before one-off
effects resulting from the adjustment measures is expected to reach the solid
level of last year.
As a result of one-off improvements in other areas, the impact on ANDRITZ GROUP
earnings in 2015 will be reduced to 15 to 20 million euros. The operative
measures planned are scheduled to be implemented by 2017 and are expected to
yield annual cost savings between 30 and 35 million euros.
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Press release available for download
This press release is available for download at the ANDRITZ web site:
www.andritz.com/news
The ANDRITZ GROUP
ANDRITZ is a globally leading supplier of plants, equipment, and services for
hydropower stations, the pulp and paper industry, the metalworking and steel
industries, and for solid/liquid separation in the municipal and industrial
sectors. The publicly listed technology Group is headquartered in Graz, Austria,
and has a staff of almost 25,000 employees. ANDRITZ operates over 250 sites
worldwide.
Further inquiry note:
Dr. Michael Buchbauer
Head of Group Treasury, Corporate Communications & Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
end of announcement euro adhoc
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issuer: Andritz AG
Stattegger Straße 18
A-8045 Graz
phone: +43 (0)316 6902-0
FAX: +43 (0)316 6902-415
mail: welcome@andritz.com
WWW: www.andritz.com
sector: Machine Manufacturing
ISIN: AT0000730007
indexes: WBI, ATX Prime, ATX, ATX five
stockmarkets: official market: Wien
language: English