euro adhoc: Aeco N.V.
Layoffs & Downsizing
Exit of Test Equipment Business (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
After aeco Germany GmbH had filed for insolvency on September 27, 2002, a decision has been taken by the administrator not to continue this business effective end of November, 2002. Most of the employees have been made redundant accordingly. Based on this and based on the fact that aeco Ltd., Welshpool, United Kingdom has over the past months made redundant most of its staff, aeco N.V. will terminate its entire activities in the "Test Equipment" area. Future focus will be "Test Services". Due to additional write-offs in connection with this insolvency, the aeco N.V. management expects further delays in the publication of its annual report for the fiscal year 2001. Furthermore the net income will decrease from previously announced Euro -12.4 million to Euro -14.2 million. For 2002 and in the future this will result in a significant drop of revenues of aeco N.V. For the fiscal year 2002, the management expects a net loss of between Euro -2 million and Euro -2.5 million. A further announcement with more details on the strategy going forward will be made in the near future.
end of announcement euro adhoc 20.11.2002
Further inquiry note:
Erich Hoffmann Tel.: +49 (0) 8251 9008-12 E-Mail: erich.hoffmann@aecogroup.com
Branche: Semiconductors & active components
ISIN: NL0000233625
WKN: 927093
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Berliner Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Hamburger Wertpapierbörse / free trade
Niedersächsische Börse zu Hannover / free trade
Frankfurter Wertpapierbörse / regulated dealing