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Pfäffikon, Switzerland (pte056/30.11.2004/17:30) - The Swiss technology specialist Unaxis http://www.unaxis.com has announced plans to extensively restructure its semiconductor equipment segment. As the company announced today, it hopes to develop its chip segment into an independent and profitable semiconductor supplier. It plans a phased reduction of 500 positions, 400 of which are in Switzerland and Liechtenstein. However, in turn, 200 new positions should be created in Asia.
In the future, Unaxis wants to focus on its business activities in thin-film and vacuum technology. It also plans to either merge or divest its business activities within its Display technology segment after its restructure. It was due to the "unsatisfactory business development" in this segment that CEO Heinz Kundert tendered his resignation. Harald Eggers, a member of Unaxis' Board of Directors, is set to assume the position of CEO on an ad interim basis.
Unaxis estimates that the costs of restructuring will amount to between 200 million (132.3 million euros) and 300 million (198.4 million euros) Swiss francs. For 2004, Unaxis expects only a slightly positive operating result from continuing operations. However, for 2005 the technology company expects that these operations will generate sales of roughly 1.8 billion Swiss francs (1.2 billion euros) and earnings of around 100 million Swiss francs (66.1 million euros). It is also expected that by 2007, an internal growth rate of more than 5 per cent and an EBIT margin of more than 10 per cent will be achieved. According to Unaxis, external growth is also not ruled out.
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