SW Umwelttechnik Stoiser & Wolschner AG

euro adhoc: SW Umwelttechnik Stoiser & Wolschner AG
SW Umwelttechnik closing German works (E)

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SW Umwelttechnik focuses on its profitable Central and East European markets. Due to the negative economic forecasts for Germany, the company is closing its factory there and moving the production equipment to Hungary.

The closure of Bavarian subsidiary Merbeler Umwelttechnik GmbH, which was acquired in 2000, reflects SW Umwelttechnik’s determination to improve earnings.

Current forecasts point to a 6% fall in German construction demand this year, and a further contraction of 4% in 2004. Since 1995 German construction output has shrunk by a total of 31%. Current budget deficits are resulting in a growing squeeze on public spending which is now having a severe impact on the Bavarian market for decentralised wastewater treatment plans and other civil engineering projects.

Due to these difficult trading conditions SW Umwelttechnik’s strategy of changing production at Merbeler — which was in trouble when it was acquired in 2000 — over to higher grade products has not brought the desired results. Management terminated activities at the site, where 20 people were employed, as of 30 June 2003.

The production equipment at the factory is being transferred to Hungary, where the need to conform to EU environment directives has generated strong demand for environmental products.

SW Umwelttechnik is adhering rigorously to a strategy of withdrawing from low-margin businesses and investing in growth markets. By 2002 Hungary was already contributing some 62% of the company’s revenue.

end of announcement            euro adhoc 04.07.2003

Further inquiry note: DI Heinz Wolschner, Vorstand der SW Umwelttechnik Tel.: 0043/463/32109-0, Fax: 0043/463/37667 MMag. Christian Riel, Finanzen/Investor Relations Tel.: 0043/664/4337105, Fax: 0043/1/3688686, mailto:christian.riel@sw-umwelttechnik.at Website: http://www.sw-umwelttechnik.at

Branche: Technology
ISIN:      AT0000808209
WKN:        080820
Index:    ATX Prime, ViDX, WBI
Börsen:  Wiener Börse AG / official dealing
              Berliner Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade

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