Georg Fischer AG
Personnel measures at Schaffhausen location
Georg Fischer AG / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Schaffhausen, 28 May 2009, 7:00 a.m. This announcement supplements today's media release issued by Georg Fischer AG on its structural programme and contains additional information on the Schaffhausen location. Personnel measures at Schaffhausen location GF AgieCharmilles is feeling the impact of the worldwide slump in demand in the machine tool industry. At its two plants for high speed milling machines in Switzerland, capacity utilisation has plunged sharply. The Corporate Group therefore plans to concentrate production for this technology at the main location in Nidau. The plant in Schaffhausen is to be closed, affecting 50 employees. For GF AgieCharmilles the consultation phase with the employee representatives has begun. GF Piping Systems is also feeling the global recession, though less acutely. Nevertheless, the Corporate Group is preparing for the future by streamlining its organisation and boosting its competitiveness. At the Schaffhausen location, 42 jobs will be lost. For GF Piping Systems the consultation phase with the employee representatives is completed. A social plan has been set up for the GF AgieCharmilles and GF Piping Systems employees affected. The plan will provide support in reorientation, equalisation for any gap in pension fund coverage, leave of absence for seeking employment, severance pay, a contribution to removal costs, and early retirement schemes. Yves Serra, CEO of Georg Fischer AG, stresses that, while very painful, these measures are unfortunately unavoidable. 'The planned changes at the Schaffhausen location will help preserve the competitiveness of Georg Fischer and secure the Corporation's future.' __________________________________________________________________________ Corporate Profile Georg Fischer - 'Adding Quality to People's Lives' Georg Fischer is focused on its three core businesses GF Piping Systems, GF Automotive and GF AgieCharmilles. Founded in 1802, the company is headquartered in Schaffhausen, Switzerland, and has over 140 locations worldwide including 50 production facilities. With some 14,000 employees, it generated annual sales of 4.5 billion Swiss francs in 2008. The Corporation makes a direct contribution to the quality of life: Comfort, mobility and precision are key market requirements that we satisfy with our products and services. You'll find further information under www.georgfischer.com. You can register for our subscription service for journalists at www.georgfischer.com/subscriptionservice. You will then automatically receive our latest Media Releases or the regular Top Stories from Georg Fischer by email. Georg Fischer AG, 8201 Schaffhausen/Switzerland Phone +41 (0) 52 631 26 74, Fax +41 (0) 52 631 28 63 __________________________________________________________________________ Daniel Bösiger Head of Corporate Controlling / Investor Relations Phone +41 (0) 52 631 21 12, Fax +41 (0) 52 631 28 16 daniel.boesiger@georgfischer.com 28.05.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Georg Fischer AG Amsler-Laffon-Straße 9 CH-8201 Schaffhausen Schweiz Phone: +41 - 52 631 2112 Fax: +41 - 52 631 2816 E-mail: daniel.boesiger@georgfischer.com Internet: www.georgfischer.com ISIN: CH0001752309 WKN: 851082 Indices: SPI Listed: Foreign Exchange(s) SWX End of News DGAP News-Service ---------------------------------------------------------------------------
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