euro adhoc: Sartorius AG
other
Cost-cutting measures initiated
Limited
impact on 2008 consolidated earnings
Difficult first months in 2009 expected
for the Mechatronics Division
Stable business development in the Biotechnology
Division
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Downturn in Demand in the Mechatronics Division
12.12.2008
Order intake for the Mechatronics Division was around 15% lower in November 2008 than a year ago. December has also been showing relatively weak development so far. For this reason, Sartorius AG is adapting the production capacities of the Mechatronics Division. Capacity is to be adapted by reducing flextime hours accumulated and using up annual leave by the end of 2008. As of January 2009, Sartorius intends to initiate short-time work for employees of the Mechatronics Division and also reduce work hours for the administrative employees. The company is currently negotiating the corresponding company agreements with employee representatives. The Executive Board members and executive staff announced that they would participate in these cost-reduction measures by foregoing portions of their salaries. At the other Mechatronics sites of the Group, cost-cutting measures are also being implemented as well.
The decline in business for the Mechatronics Division is expected to have a limited impact on the 2008 consolidated earnings. For the first months of 2009, company management anticipates considerably difficult conditions for the Mechatronics Division. Business development for the Biotechnology Division continues to remain stable.
end of announcement euro adhoc
Further inquiry note:
Andreas Wiederhold
Treasury & Investor Relations
Telefon: +49 (0)551 308-1668
E-Mail: andreas.wiederhold@sartorius.com
Branche: Biotechnology
ISIN: DE0007165607
WKN: 716560
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
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