EANS-News: Symrise AG secures competitive position of German sites through 2020
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Company Information
Subtitle: Employment guarantee for employees in Germany
Increase in vocational training and employee qualification levels
Total investment of 220 million in expansion and moderni-zation
Cost benefits of more than 80 million up to 2020
Holzminden, January 11, 2012 (euro adhoc) - The Executive Board of Symrise AG
and the IG BCE (Mining, Chemical and Energy Industrial Union) further developed
their collective agree-ments on January 11, 2012, with the aim of strengthening
the Company's German sites and ensuring qualified personnel in the long term.
Symrise is therefore extending its employment guarantee for its German sites
from the previous date of 2016 to the end of 2020. In return, the staff will do
without some salary increases in the future. In addition, the 40-hour week has
been fixed until 2020. The agreement also provides for some major additional
investment in the German sites. Furthermore, the Group is reacting to
demographic change by creating additional apprenticeships as well as staff
enhancement and training measures.
The collective agreement signed on January 11, 2012 constitutes the
continua-tion and extension of the existing site guarantee agreement. The first
agreement signed in 2009 and the previous guarantee of job security at the
German plants up to 2016 will now be extended up to 2020. In view of this,
Symrise intends to make further investments in the expansion and modernization
of the German sites. Symrise will invest an additional EUR 100 million in
Germany up to 2020, on top of the agreed investment volume of EUR 120 million up
to 2016. The Group is anticipating accumulated cost benefits of more than EUR 80
million over the course of the agreement.
Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, stated: "This extended agree-ment
represents a long-term commitment to our German sites and sends out a strong
signal to our employees. It includes far-reaching measures designed to
strengthen our international competitive position. A sturdy foundation for our
Company and our employees is crucial to the lasting continuation of our
profit-able course of growth."
The new collective agreement also comprises staff training programs and measures
designed to facilitate the Company's internal generational change. Symrise is
committing itself to offering around 50 vocational training positions at its
German sites to young people every year.
"Demographic change will be one of the prime challenges faced by German
businesses in the years to come. Symrise is a market leader in a dynamic and
global industry and is therefore highly attractive to the next generation of
junior staff. We are highlighting this by expanding our training programs, with
which we intend to secure access to bright up-and-coming employees for many
years to come," said Head of Human Resources, Dr. Iñigo Natzel.
"The extended site agreement offers security to Symrise's employees in Ger-many.
Symrise guarantees that it will maintain stable occupational levels at the
German sites until 2020 and that it will not announce any redundancies made for
operational reasons," said Karl-Heinz Huchthausen, Chairman of the Gen-eral
Works Council of Symrise AG. "The agreement is a combination of the
tried-and-tested with important new additions to site expansion and staff
training. It reflects the confidence that Symrise has in its business model and
in Germa-ny as a business location," added Peter Winkelmann of the IG BCE.
About Symrise
Symrise is a global supplier of fragrances, flavorings, cosmetic active
ingredients and raw materials as well as functional ingredients. Its clients
include manufacturers of perfumes, cosmetics and foods, the pharmaceutical
industry and producers of nutritional supplements.
Its sales of EUR1.572 billion in 2010 place Symrise among the top four in the
global flavors and fragrances market. Headquartered in Holzminden, Germany, the
Company is represented in over 35 countries in Europe, Asia, the United States
and Latin America.
Symrise works with its clients to develop new ideas and market-ready concepts
for products that form an indispensable part of everyday life. In doing so,
Symrise combines its insights into consumer trends with cutting-edge
technologies, focusing on innovative trend and lifestyle products that have
additional practical value for the consumer. Symrise - always inspiring more
www.symrise.com
Further inquiry note:
Press contact:
Bernhard Kott
Phone: +49 (0)5531 90-1721
E-mail: bernhard.kott@symrise.com
end of announcement euro adhoc
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company: Symrise AG
Mühlenfeldstraße 1
D-37603 Holzminden
phone: +49 (0) 5531/90-0
FAX: +49 (0) 5531/90-1649
mail: ir@symrise.com
WWW: http://www.symrise.com
sector: Chemicals
ISIN: DE000SYM9999
indexes: MDAX
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English