UK Markets closed

Arbonia improves competitiveness through further consolidation of flat panel radiator production

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Arbonia AG / Key word(s): Miscellaneous

26-Nov-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Arbon, 26 November 2021 - The Heating, Ventilation and Air Conditioning (HVAC) Division of Arbonia is advancing the consolidation of its flat panel radiator production volume at its highly automated plant locations with the planned closure of the production plant in Tubbergen (NL). By increasing capacity utilisation and productivity at the remaining locations as well as further centralising know-how in the competence centres, the division is further enhancing its competitive position as a best-in-class provider of radiators.

The HVAC Division plans to bundle the manufacturing capacities of the Dutch Vasco production site in Tubbergen at its highly automated production plants in Plattling (D) and Legnica (PL) by the end of 2022 in order to further sustainably increase its competitiveness by concentrating competencies and volumes.

The planned production relocation and the resulting closure of the production plant could result in the reduction of around 100 jobs at the Tubbergen (NL) location by the end of 2022. This planned measure has been submitted to the works council for consultation and at the same time negotiations will be initiated with the concerned employee representatives to discuss the preparation of a social plan and the definition of effective measures to support the affected employees, among other things.

The market servicing of the HVAC Division will not change as a result. The customers will continue to benefit from an attractive product portfolio, optimum quality, and best-in-class logistics services in the future. The Dutch customers will be served by the sales organisation based in Amsterdam (NL) as before.

In the future, the flat panel radiator production for the European markets will be consolidated in the competence centre in Germany.

Arbonia expects one-off costs due to the closure in the high single-digit CHF millions, which will be charged to the 2021 net earnings for the year.

Contact
Fabienne Zürcher
Head Corporate Communications & Investor Relations
T +41 71 447 45 54

fabienne.zuercher@arbonia.com


End of ad hoc announcement

Language:

English

Company:

Arbonia AG

Amriswilerstrasse 50

9320 Arbon

Switzerland

Phone:

+41 71 447 41 41

E-mail:

holding@arbonia.com

Internet:

www.arbonia.com

ISIN:

CH0110240600

Listed:

SIX Swiss Exchange

EQS News ID:

1252122


 

End of Announcement

EQS Group News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting