Komax Holding AG / Komax Solar and Komax Medtech respond to difficult market
environment . Processed and transmitted by Thomson Reuters ONE. The issuer is
solely responsible for the content of this announcement.
Komax is taking steps to respond to the persistently challenging economic
environment facing its Solar and Medtech business units.Komax Solar will be
continuing the cost-cutting measures that have already been initiated,while
Komax Medtech will be introducing short-time working at its La Chaux-de-Fonds
site in June.
The global solar market remains in the grips of a crisis whose end is
currently difficult to foresee. As a result, Komax Solar is making further
efforts to adapt its structures to the present demand situation. This will
involve reducing the business unit's headcount by an estimated 70 people.
Headcount at the beginning of the year was 285 employees, most of whom worked
outside Switzerland. However, solar will remain an attractive market in the
longer term. The product range is being further developed and marketing
efforts continue. Komax Solar remains well placed to benefit from the expected
upturn in the new market setting.
Uncertainty about economic developments is putting a damper on investment
activity by Komax Medtech's customers, resulting in further postponements to
projects that have already been announced. Furthermore, Komax Medtech is much
more affected by the continuing strength of the Swiss franc than either of the
other two business units. The result is persistent spare capacity at its site
in La Chaux-de-Fonds. To bridge this temporary state of affairs, Komax Medtech
is introducing short-time working in June. This will ensure that capacity is
retained to ramp up production the moment that new orders start to pick up
For more information, please contact:
Marco Knuchel Tel. +41 41 455 06 16
Head Investor Relations / Corporate Fax +41 41 450 10 24
The Komax Group is a leading manufacturer of wire processing machines,
machines for the production of modules for the photovoltaics market and
machine systems for the manufacture of inhalers and insulin delivery or
injection systems. It employs a workforce of around 1100 people. Alongside
production facilities in Switzerland, France, the United States, Malaysia and
China, Komax also provides sales and service support via subsidiaries and
independent agents in around 60 countries.
The media release can be downloaded from the following link:
Media release (PDF)
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Source: Komax Holding AG via Thomson Reuters ONE
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Komax Holding AG
Industriestrasse 6 Dierikon-LU Switzerland
WKN: 1070215 ;ISIN: CH0010702154;
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