Au/Wädenswil, July 5, 2016 — The activities of Von Roll Holding AG are focused on its core business of electrical insulation and attractive markets of the future such as electromobility. It has modernized its factories worldwide over the past few years.
Von Roll is continuing to follow this path rigorously. In addition to further investments of around CHF 30 million during the 2016 financial year, the company also plans to implement extensive measures to reduce its underlying fixed costs and increase its overall efficiency.
Essentially, Von Roll intends to
- ● Simplify its global management structure
- ● Transfer further production units
- ● Optimize its product portfolio
- ● Reduce administrative functional areas
- ● Streamline production processes
These measures would reduce annual fixed costs by more than CHF 18 million.
At the same time, there are plans to reduce headcount by up to 160 jobs, including around 50 in Switzerland. Consequently, the sites that are affected have introduced a consultation procedure or will due so in due course.
The restructuring costs are estimated to amount to some CHF 8 million. Implementing the planned reduction in numbers will enable some CHF 4 million to be saved during the 2016 financial year itself.
About Von Roll Holding AG: As a Swiss industrial company, Von Roll Holding AG focuses on products and systems for power generation, transmission and industrial applications. Von Roll is a global market leader for electrical insulation products, systems and services and has a worldwide presence in around 30 sites with about 2,000 employees.
Head of Corporate Communications
& Investor Relations
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This press release is based on information currently available. Unforeseeable risks and influences may lead to discrepancies with the statements made here. For more information on the company and its business performance, please refer to the Annual and Semi-Annual Report of Von Roll Holding AG which is available in digital form at https://www.vonroll.com/en/.