VA Technologie AG
VA Technologie AG english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Further restructuring in VAI
Reduction of 650 – 700 employees
In VOEST ALPINE Industrieanlagenbau (VAI), a subsidiary of the listed VA
Technologie AG further restructuring is required. Extremely difficult market
conditions are expected in the near future as a result of the highly restrictive
investment activity in the iron and steel industry.
Due to this reason – as already announced in the Half Year Report 2001 of VA
Technologie AG – further cost-cutting and productivity improvement measures are
necessary. These measures also include a head-count reduction of 650 – 700
employees in the world-wide VAI group, thereof 350 employees at the headquarters
in Linz. The layoff will include employees in technical, commercial, and
administrative areas of the company; the country-specific severance schemes are
applied respectively. As of 30.6. 2001 VAI employs 4,287 employees world-wide,
thereof 1,700 in Linz.
Continued solid balance sheet structure at VA TECH
For the year 2001 VA TECH still expects growth in order intake as well as in
operating earnings despite these additional restructuring measures.
After these measures the Group still possesses a solid balance sheet structure.
As at June 30, 2001 the equity ratio stood at 14%, the short term net liquidity
amounted to plus 233m EUR with interest bearing debt capital of in total 975m
EUR.
After the important acquisitions, divestments and restructurings of the last
years, VA TECH is a focused technology and service company with international
top positions and growth potentials in automation and services.
++++2001-10-02
This and other VA TECH Group press releases are available on the homepage
www.vatech.at or can be individually received via our automatic mailing service.
end of ad-hoc-announcement (c)DGAP 02.10.2001
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WKN: 093745; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg,
München, Stuttgart
021546 Okt 01
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