PR Newswire/euro adhoc/ EANS-Adhoc: Sunways AG / Extensive restructuring at Sunways AG and Sunways Production GmbH ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. Restructuring & Recapitalisations 14.12.2012 Konstanz/Germany, 14 December 2012 - Sunways Production GmbH, a wholly-owned subsidiary of Sunways AG (ISIN DE0007332207 / WKN 733220), operates a plant for the production and development of solar cells in Arnstadt. Due to the current economic situation in the solar industry, Sunways Production GmbH is presently not in a position to operate profitably. Therefore, the Management Board, with the consent of the Supervisory Board, today decided to significantly reduce the production and development activities of Sunways Production GmbH until at least a breakeven situation can be achieved again. With the restructuring measures it is intended to reduce the current workforce of 120 by approx. 50 % at Sunways Production GmbH. Furthermore, the Management Board, with the consent of the Supervisory Board, decided today to also reduce the number of employees across all locations at Sunways AG as well as to restructure production to accommodate the present market environment. According to the Management Board's current plans, the aggregate number of 265 employees of the Sunways Group might be reduced by a total of 40 %. Relevant talks will be initiated shortly with the works councils of Sunways AG in Konstanz and Sunways Production GmbH in Arnstadt. Further inquiry note: Dr. Harald F. Schäfer Head Corporate Communications and Investor Relations Tel.: +49 (0)7531 996 77-415 E-Mail: email@example.com issuer: Sunways AG Macairestr. 3 - 5 D-78467 Konstanz phone: +49 (0)7531 99677 0 FAX: +49 (0)7531 99677 10 mail: firstname.lastname@example.org WWW: http://www.sunways.eu/de sector: Alternative energy ISIN: DE0007332207 indexes: CDAX, Technology All Share, General All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/general standard: Frankfurt language: English The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication. -0- Dec/14/2012 07:46 GMT
EANS-Adhoc: Sunways AG / Extensive restructuring at Sunways AG and Sunways Production GmbH
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