SMT Scharf AG

EANS-Adhoc: SMT Scharf AG restructures subsidiary in Germany´s Saarland region

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Company Information


Hamm, October 2, 2009 - SMT Scharf AG restructures its subsidiary SMT Scharf Saar GmbH (Neunkirchen). To this end, SMT Scharf Saar GmbH filed an insolvency proceeding today. The Group´s Managing Board intends to restructure and then continue the subsidiary via an insolvency plan. The subsidiary, which operates almost exclusively in Germany, was not able to compensate for a significant downturn in revenues in the third quarter of 2009 with short-term cost cuts. The company´s contributions to consolidated revenues have already shrunk since the earthquake in February 2008 which made it a burden on the group´s earnings since then.

Continuing this company is not expected to impact consolidated revenues or earnings considerably. If the company is not continued, the SMT Scharf Group´s net earnings will be depressed by one-off write-downs of about EUR 0.5 million, and revenues in 2010 would fall by approximately EUR 2 million.

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ots Originaltext: SMT Scharf AG
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Investor Relations
cometis AG
Susanne Gremmler
Tel: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66

Branche: Machine Manufacturing
ISIN:      DE0005751986
WKN:        575198
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              München / free trade

Weitere Meldungen: SMT Scharf AG

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