EANS-Adhoc: RHI AG RHI adapts European plant structure to long-term demand
situation
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ad-hoc disclosure 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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Strategic management decisions
03.05.2013
At today's meeting, the Supervisory Board of RHI AG approved a concept presented
by the Management Board to adjust the production capacity in Europe to the
growth rates, which are expected to stay low in the future. Since 2010, steel
output within the European Union, with a volume of approx. 170 million tons, has
been roughly 20% below the level of 2007.
For this reason, the Duisburg plant will be closed this year. The Duisburg site
currently employs 122 people and primarily produces magnesia-carbon bricks for
the steel industry. A social plan and a reconciliation of interests will be
developed in close coordination with the workers' council in the following
weeks. In addition to these costs, a write-down of assets of roughly EUR 6
million and restoration costs of roughly EUR 10 million will be incurred in the
context of the plant closure, which will affect cash flow in the coming years.
Further inquiry note:
RHI AG
Investor Relations
Mag. Simon Kuchelbacher
Tel: +43-1-50213-6676
Email: simon.kuchelbacher@rhi-ag.com
end of announcement euro adhoc
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issuer: RHI AG
Wienerbergstrasse 9
A-1100 Wien
phone: +43 (0)50213-6123
FAX: +43 (0)50213-6130
mail: rhi@rhi-ag.com
WWW: http://www.rhi-ag.com
sector: Refractories
ISIN: AT0000676903
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
language: English