DGAP-News: HOMAG Group and works' councils reach agreement on FRIZ restructuring
(firmenpresse) - DGAP-News: Homag Group AG / Key word(s): Agreement
HOMAG Group and works' councils reach agreement on FRIZ restructuring
25.01.2013 / 13:36
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HOMAG Group and works' councils reach agreement on FRIZ restructuring
- Reconciliation of interests and redundancy plan agreed
- Restructuring to be completed in first half of 2013
Schopfloch, January 25, 2013. The management of HOMAG Group AG and the
management of FRIZ Kaschiertechnik GmbH, Weinsberg, have reached an
agreement with the works' council of FRIZ Kaschiertechnik GmbH and the
group works' council concerning the terms of the planned restructuring. A
reconciliation of interests and a redundancy plan were agreed.
A total of 26 employees will continue to be employed at the Weinsberg site,
where profile wrapping machines will still be developed and produced. FRIZ,
a brand with a strong tradition, will be kept for this product. Service
activities will also be maintained at the site. In close cooperation with
FRIZ Kaschiertechnik GmbH, HOMAG Holzbearbeitungssysteme GmbH in Schopfloch
will continue to offer the laminating technology under the HOMAG brand. The
other 26 employees affected by the restructuring can all join a transfer
company. The restructuring of FRIZ Kaschiertechnik GmbH is to be completed
in the first half of 2013.
The CFO and personnel director of HOMAG Group AG, Hans-Dieter Schumacher,
commented positively on the outcome of the negotiations: 'The agreement now
reached marks an important milestone in the restructuring. Together with
the works' councils, we were able to find a viable solution for all parties
concerned. This necessary measure strengthens the HOMAG Group's
competitiveness.'
Hannelore Knowles, chairwoman of the group works' council, is also
satisfied with the result achieved: 'Under the given circumstances, our top
priority was to ensure that as many employees as possible keep their jobs.
For the remaining employees, we wanted to achieve the most socially
acceptable transition. We succeeded in doing this with the agreements that
have been reached.'
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Background information
With its 15 specialized production companies, 21 group sales and service
companies and approximately 60 exclusive sales partners worldwide, HOMAG
Group AG's position as a complete system supplier is unique. Backed by a
workforce of some 5,100 employees worldwide, the Company sees itself as the
leading global manufacturer of plant and machinery for the woodworking and
wood materials processing industry and cabinet makers active in the
production of furniture and construction elements as well as timber frame
houses. The Group also offers its customers a wide range of services,
including software and consulting services. HOMAG Group AG shares have been
listed on the Prime Standard of the Frankfurt stock exchange since July 13,
2007.
Disclaimers
This press release contains certain statements relating to the future.
Future-oriented statements are all those statements that do not pertain to
historical facts and events or expressions pertaining to the future such as
'believes', 'estimates', 'assumes', 'forecasts', 'intend', 'may', 'will',
'should' or similar expressions. Such future-oriented statements are
subject to risks and uncertainty since they relate to future events and are
based on current assumptions of the Company, which maynot occur in the
future or may not occur in the anticipated form. The Company points out
that such future-oriented statements do not guarantee the future; actual
results including the financial position and the profitability of the HOMAG
Group as well as the development of economic and regulatory framework
conditions may deviate significantly (and prove unfavorable) from what is
expressly or implicitly assumed or described in these statements. Even if
the actual results of the HOMAG Group including the financial position and
profitability as well as the economic and regulatory framework conditions
should coincide with the future-oriented statements in this announcement,
it cannot be guaranteed that the same will hold true in the future.
Information:
HOMAG Group AG
Kai Knitter
Investor Relations and Corporate Communications
Phone: +49 7443 13-2461
kai.knitter(at)homag-group.com
www.homag-group.com
End of Corporate News
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25.01.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Homag Group AG
Homagstr. 3-5
72296 Schopfloch
Germany
Phone: +49 (0)7443 / 13 - 0
Fax: +49 (0)7443 / 13 - 2300
E-mail: info(at)homag-group.com
Internet: www.homag-group.com
ISIN: DE0005297204
WKN: 529720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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