PVA TePla AG / Dissemination of a Voting Rights Announcement transmitted by DGAP
Wettenberg, June 4, 2013 - As a result of current market developments and the associated investment constraints, particularly in the business units crystal-growing systems for the solar and semiconductor industry, the anticipated upturn in demand has not yet materialized. An adjustment of capacity and
PVA TePla AG / Key word(s): Restructure of Company
04.06.2013 13:26
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Wettenberg, June 4, 2013 - As a result of current market developments and
the associated investment constraints, particularly in the business units
crystal-growing systems for the solar and semiconductor industry, the
anticipated upturn in demand has not yet materialized. An adjustment of
capacity and further reduction of fixed costs have therefore become
essential. For this reason, the Management Board and Supervisory Board of
PVA TePla AG agreed on an additional cost reduction program today. These
measures focus on reducing the staffing level in Wettenberg and Jena.
In both areas, PVA TePla will increasingly focus on business with
individual projects and partners again and therefore has no alternative but
to adjust capacity accordingly. Plans are to reduce the staffing level in
Wettenberg and Jena by around 80 employees in total. In this context, it
will be ensured that key qualifications and the ability to process larger
projects as well are maintained.
The implementation of these measures and additional write-downs on
inventories, particularly in the Solar Systems division, will result in a
negative impact on results in the order of approximately EUR 6 million in
2013. Therefore, from the current perspective it is no longer possible to
achieve a positive EBIT contribution for fiscal 2013. However, in the
subsequent years there will be a positive impact on costs in the amount of
roughly EUR 4 million, resulting in a corresponding significant reduction
of break-even sales revenues.
It is also planned to manage the Solar Systems division as a business unit
in the Semiconductor Systems division after the start of the new year.
04.06.2013 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: PVA TePla AG
Im Westpark 10-12
35435 Wettenberg
Germany
Phone: 0641/686900
Fax: 0641/68690800
E-mail: info@pvatepla.com
Internet: www.pvatepla.com
ISIN: DE0007461006
WKN: 746100
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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