EDB ErgoGroup ASA: Provision in the accounts for phase 3 of the synergy program
(Thomson Reuters ONE) -
(Oslo, 22 December 2011) In connection with the merger of EDB and ErgoGroup, the
company announced a synergy program made up of 3 phases to be implemented over a
period of 18 months. The Board of Directors of EDB ErgoGroup ASA has now decided
to implement phase 3 of this program, which includes headcount reductions in
the IT Operations business area and some parts of the Solutions business area
totalling 80 persons, and is due to be carried out over the first half of 2012.
As a result, EDB ErgoGroup will make a provision for restructuring costs in the
order of NOK 40 million in its accounts for the fourth quarter of 2011. This
provision is within the previously announced total for the non-recurring costs
of the synergy program of NOK 120 million. Following this provision, the company
has completed the restructuring provisions associated with the 18-month program.
These synergy costs represent part of the plan to realise the total synergy
gains from the merger, which are estimated to represent NOK 325 million annually
with full effect from the second half of 2012.
Contact names EDB ErgoGroup:
Eli Giske, CFO, Tel: +47 908 44 189
Geir Remman, SVP Corporate Communications, Tel: + 47 970 55 017
About EDB ErgoGroup
EDB ErgoGroup ASA is one of the leading Nordic IT companies, with some 10,000
employees and annual turnover in the range of NOK 12 billion. The company is
listed on the Oslo Stock Exchange and operates from headquarters in Oslo with
major activities in both the Norwegian and Swedish markets.
This information is subject to the disclosure requirements stipulated in §5-12
of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: EDB ErgoGroup ASA via Thomson Reuters ONE
[HUG#1573307]
Unternehmensinformation / Kurzprofil:
Datum: 22.12.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 99369
Anzahl Zeichen: 2450
contact information:
Town:
Oslo
Kategorie:
Business News
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