euro adhoc: Eybl International AG
Personnel
Eybl International is reducing
the workforce
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
21.11.2008
Eybl International AG (ISIN: AT0000908157), an internationally recognised manufacturer of automotive interior parts that specialises in production of automotive textiles and fabrication of seat covers made of material or leather with about 4,000 employees at nine production sites in Austria, Hungary, Romania, Germany and Slovakia is in the process of adjusting its capacity.
The company, listed in the standard market auction has announced that the number of employees at its plants is being reduced. In that way, management is reacting to current economic developments and to declines in product call-ins by its customers. At the plant in Germany, shorter shifts have been introduced. In Romania and Hungary about 300 jobs have already been eliminated. There are plans to eliminate another 150 to 200 jobs at the two sites shortly. For the site in Krems as well a cutback of up to 65 jobs is being considered. A final decision on this will be made within two weeks. The company´s objective is to cooperate with employee representation councils in finding a socially acceptable solution for all those affected.
For the first half of the new business year (1 October 2008 through 31 March 2009), the assumption is that there will be a decline in sales of about 15 percent. Due to the company´s diversification strategy that has been successfully implemented in recent months it has now finally been possible to recruit major orders from the non-automotive sector. Those orders have contributed to preventing a heavier decline in sales and the elimination of even more jobs.
Implementation of the long-term turnaround measures defined in the spring of 2008 together with Roland Berger Strategy Consultants is proceeding on schedule. However, due to the lower sales volume additional measures are being worked out with all of the affected stakeholders.
end of announcement euro adhoc
Further inquiry note:
Eybl International AG
Investor Relations
Robert Gabriel
Tel.: +43 (0) 2732 881-300
Fax: +43 (0) 2732 881-79
mailto:robert.gabriel@eybl-international.com
Branche: Speciality stores
ISIN: AT0000908157
WKN: 914117
Index: WBI, Standard Market Auction
Börsen: Wiener Börse AG / official market