Jil Sander AG
Jil Sander: Agreement with the works council of its subsidiary Women’s Wear
Ad hoc announcement §15 WpHG
Strategic corporate decisions
Jil Sander: Agreement with the works council of its subsidiary Women’s Wear
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
Jil Sander management reaches agreement with the works
council of its Women’s Wear production subsidiary
Hamburg, July 19, 2005 – Jil Sander announces today that it has reached an
agreement with the works council of its Women’s Wear production subsidiary, an
important move in the Group’s relaunch strategy. All production capacities
will now be shifted from the company’s Ellerau, Germany site to subcontractors
in Italy, where a majority of Jil Sander production is already located. The
site in Ellerau will be closed. This is a necessary step in the restructuring
plan aimed at restoring profitability.
During the last few months, management and the works council conducted
constructive negotiations on these restructuring measures. Negotiations are
currently taking place with the works council for the restructuring of the
company’s headquarters in Hamburg.
Jil Sander AG
Osterfeldstraße 32-34
22529 Hamburg
Deutschland
ISIN: DE0007164030
WKN: 716403
Listed: Amtlicher Markt in Frankfurt (General Standard) und Hamburg;
Freiverkehr in Stuttgart
End of ad hoc announcement (c)DGAP 19.07.2005
191138 Jul 05
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