Hexagon Composites ASA: Hexagon Raufoss restructures the operating model
(Thomson Reuters ONE) -
Hexagon Composites' wholly-owned subsidiary Hexagon Raufoss, restructures its
operating model to achieve profitable operations.
As a result of prolonged weak profitability, the decision has been taken to
implement a restructuring and downsizing process in Hexagon Raufoss. The company
has terminated all its employee contracts and has implemented a modified
operating model where operational services will be performed by its sister
company Hexagon Ragasco. The restructuring includes workforce reductions through
natural retirements, internal transfers and lay-offs. Eight employees have found
other positions outside the Group, eleven employees will be offered employment
in sister company, while 14 employees have been laid-off. Employee
representatives have been consulted throughout the restructuring process.
"Given the necessity to implement the restructuring process the selected
operating model provides the best basis for healthy continuing operations, "says
Managing Director Ragnar Holthe at Hexagon Raufoss. "This is a challenging
situation for the company and our employees, and we regret that good employees
will have to leave the company."
Hexagon Raufoss, which is located in Raufoss, develops and manufactures fuel
tanks for gas-powered cars.
For more information:
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether(at)hexagon.no
Ragnar Holthe, Managing Director, Hexagon Raufoss AS
Telephone: +47 970 74 245 | E-mail: ragnar.holthe(at)hexagonraufoss.com
Hexagon Composites ASA is a leading global supplier of composite pressure
cylinders for gas applications. Based in Ålesund, Norway, the Group generated
NOK 1 651 million in operating income in 2014. Production is carried out in
modern, automated plants in Norway and the US.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by GlobeNewswire on behalf of
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originality of the information contained therein.
Source: Hexagon Composites ASA via GlobeNewswire
[HUG#1947562]
Unternehmensinformation / Kurzprofil:
Datum: 26.08.2015 - 08:19 Uhr
Sprache: Deutsch
News-ID 415913
Anzahl Zeichen: 2701
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