JoWooD Productions Software AG
euro adhoc: JoWooD Productions Software AG
other
JoWooD announces
the closing of a Development Studio
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
30.05.2005
JoWooD Productions Software AG, listed on the Viennese stock market, announces today that it will close the development company Massive Development GmbH in Mannheim, Germany.
This capacity reduction is part of the announced action plan in order to reduce costs and optimize the product portfolio.
In compliance with the new product strategy JoWooD will concentrate on titles with international distribution potential and sets measures to tighten its future product line-up.
The closing of this studio enables JoWooD to award its new product concepts according to economic, technical and quality criteria as well as on the basis of the track records of potential contractors.
This measure, coupled with the new cost management strategy, reduces the burden of fix costs allowing control derived from milestone delivery.
The title currently under development at Massive is in the final stages of approval with the console platform holders, its completion and release by JoWooD will remain unaffected by this action.
end of announcement euro adhoc 30.05.2005 10:23:34
Further inquiry note:
JoWooD Productions Software AG
Dr. Albert Seidl, Vorstand
Matthias Rathammer, Investor Relations
Tel.: +43 (0)1 / 522 18 66 - 11
mailo:investor@jowood.com
http://www.jowood.com
Branche: Software
ISIN: AT0000747357
WKN: 074735
Index: WBI, ATX Prime, ViDX
Börsen: Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade
Bayerische Börse / free trade
Wiener Börse AG / official dealing