DGAP-News: After thorough consideration, MAX Automation SE decides to close IWM Automation Bodensee

2019. június 25., kedd, 18:32





DGAP-News: MAX Automation SE / Key word(s): Strategic Company Decision


After thorough consideration, MAX Automation SE decides to close IWM Automation Bodensee


25.06.2019 / 18:32



The issuer is solely responsible for the content of this announcement.



PRESS RELEASE



After thorough consideration, MAX Automation SE decides to close IWM Automation Bodensee



Dusseldorf, June 25, 2019 - MAX Automation SE (ISIN DE000A2DA58), a company listed on Prime Standard of the Frankfurt Stock Exchange, is consistently implementing its disinvestment program to improve its profitability and risk profile. Having duly considered alternatives, including disposal, the Supervisory Board of MAX Automation SE has today decided the closure of the loss-making subsidiary IWM Automation Bodensee GmbH in Bermatingen, as of December 31, 2019. Customer projects still to be processed will be duly completed in an orderly manner. Without the prospect of successful restructuring, the burden from the continuing operations would exceed the costs of liquidation. In the fiscal year 2018, IWM Automation Bodensee GmbH as the portfolio company generating the highest loss, had already resulted the 2018 profit expectations of the MAX Automation Group having to be adjusted.



"Closing IWM Automation Bodensee GmbH is a measure with no alternatives. We are aware of our social responsibility toward the employees affected and greatly regret having to take this step. In view of the losses sustained by the company over the years and the high financing requirements, we sadly see no option for sustainably continuing the operations of the company. With this closure, we ultimately underline our decision to concentrate consistently on the MAX Automation Group"s strong core business", explains Andreas Krause, Chairman of the Management Board and CFO of MAX Automation SE. The process of closing IWM Automation Bodensee GmbH at its location in Bermatingen affects around 100 jobs. A social package and establishing a transfer company are intended to mitigate the consequences of job losses. In addition to the resulting operating losses, the additional costs for the closure will be in the upper one-digit million range.



IWM Automation Bodensee GmbH is part of the disinvestment program decided in September 2018 that also encompasses IWM Automation GmbH and ELWEMA Automotive GmbH as well as the 51-percent share in MAX Automation Shanghai Co. Ltd., which no longer forming part of the core business. In years ahead, MAX Automation SE has plans to grow further and to develop in a successful and profitable manner. Since the start of 2019, the company has been focusing on the three core areas of business Process Technologies, Environmental Technologies and Evolving Technologies.



 



Contact:



Katja Redweik

Head of Corporate Development/IR

MAX Automation SE

Tel.: +49 (0)211 - 9099 144
katja.redweik@maxautomation.com

Contact for media representatives:

Susan Hoffmeister

CROSS ALLIANCE communication GmbH

Tel.: +49 (0)89 - 125 09 03 30
sh@crossalliance.de



Marco Cabras

newskontor - Agentur für Kommunikation

Tel.: +49 (0)211 - 863 949 22
marco.cabras@newskontor.de



About MAX Automation SE

MAX Automation SE (WKN: A2DA58), based in Dusseldorf, is an internationally active industrial group for high-tech automation solutions. The operating business is divided into three divisions: in its Process Technology segment, the Group"s comprehensive technological Expertise makes it an innovation leader in the development and manufacture of proprietary solutions (e.g. dosing, impregnation), particularly for the automotive and electronics industries. In its Environmental Technology segment, MAX Automation develops and installs technologically complex systems for the recycling, energy and raw materials industries. The Evolving Technologies division of MAX Automation develops high-quality assembly and system solutions for the medical technology and automotive industries as well as for robotics and augmented automation.



www.maxautomation.com
















25.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: MAX Automation SE

Breite Straße 29-31

40213 Düsseldorf

Germany
Phone: +49 (0)211 90991-0
Fax: +49 (0)211 90991-11
E-mail: Investor.Relation@maxautomation.com
Internet: www.maxautomation.com
ISIN: DE000A2DA588
WKN: A2DA58
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 830869





 
End of News DGAP News Service





830869  25.06.2019 



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