EANS-Adhoc: SMT Scharf AG restructures subsidiary in Germany´s Saarland region
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Company Information
02.10.2009
Hamm, October 2, 2009 - SMT Scharf AG restructures its subsidiary SMT Scharf Saar GmbH (Neunkirchen). To this end, SMT Scharf Saar GmbH filed an insolvency proceeding today. The Group´s Managing Board intends to restructure and then continue the subsidiary via an insolvency plan. The subsidiary, which operates almost exclusively in Germany, was not able to compensate for a significant downturn in revenues in the third quarter of 2009 with short-term cost cuts. The company´s contributions to consolidated revenues have already shrunk since the earthquake in February 2008 which made it a burden on the group´s earnings since then.
Continuing this company is not expected to impact consolidated revenues or earnings considerably. If the company is not continued, the SMT Scharf Group´s net earnings will be depressed by one-off write-downs of about EUR 0.5 million, and revenues in 2010 would fall by approximately EUR 2 million.
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Further inquiry note:
Investor Relations
cometis AG
Susanne Gremmler
Tel: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
e-mail: gremmler@cometis.de
issuer: SMT Scharf AG
Römerstr. 104
D-59075 Hamm
phone: +49(0)2381-960212
FAX: +49(0)2381-960311
sector: Machine Manufacturing
ISIN: DE0005751986
indexes:
stockmarkets: regulated dealing/prime standard: Frankfurt, free
trade: Berlin,
München
language: English
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Original content of: SMT Scharf AG, transmitted by news aktuell