W.O.M. World of Medicine AG

euro adhoc: W.O.M. World of Medicine AG
Layoffs & Downsizing
WORLD OF MEDICINE intensifies cost-reduction program for VisionWORLD Relocation of all VisionWORLD functions to Ludwigsstadt and Berlin
Closing down of Gröbenzell facilities near Munich /

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(Berlin, May 28, 2003)

W.O.M. WORLD OF MEDICINE AG announced the closing down of its Gröbenzell facilities near Munich, and thus continues its cost-reduction program, which was launched in mid-2002. As a result of this closing down, W.O.M. WORLD OF MEDICINE AG expects additional savings of approximately EUR 1.1 million per annum. This should have an effect on net income in the next business year. Together with an already-implemented program for increasing profitability, savings totalling EUR 3.5 million per year will be achieved compared to the cost structures of mid-2002.

The VisionWORLD business division (cameras, light sources, monitors and video documentation systems for Minimally Invasive Surgery - MIS, for short) located in Gröbenzell currently has twenty-nine employees, twenty of which have already received notices of termination for operational reasons. Nine employees will continue working at other locations. The closing down of the Munich facility is planned for the end of September 2003.

The products of the VisionWORLD business division continue to be important components of the product portfolio. The manufacture of these products will be relocated to company headquarters in Ludwigsstadt. Ludwigsstadt has state of the art production facilities and qualified employees, who have already been producing VisionWORLD light sources and monitors since mid-2002. The division's Research & Development and Sales departments will operate from Berlin. Efficiency and innovative power of our Group of Companies will be further strengthened by these decisions.

The Management Board

end of announcement            euro adhoc 28.05.2003

Further inquiry note: Contact: Wilma Mitzlaff, wilma.mitzlaff@womcorp.com, phone: +49 (30) 399 81 526

Branche: Pharmaceuticals
ISIN:      DE0006637390
WKN:        663739
Index:    Prime Standard
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade

Weitere Meldungen: W.O.M. World of Medicine AG

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