November 19, 2019 / 7:01 AM / 20 days ago

BRIEF-Mikron Reduces Capacity, Cuts Jobs At Agno Site

Nov 19 (Reuters) - MIKRON HOLDING AG:

* REDUCES MACHINING CAPACITY AT AGNO SITE

* EXPECTING SALES FOR 2019 FINANCIAL YEAR TO BE HIGHER THAN IN 2018 WITH EBIT REMAINING AT SAME LEVEL AS IN 2018

* AROUND 25 JOBS WILL BE CUT

* OBLIGED TO REDUCE ITS HEADCOUNT AT MIKRON SA AGNO FROM CURRENT 370

* REACTING TO DECLINING DEMAND FOR MACHINES FROM AUTOMOTIVE INDUSTRY IN PARTICULAR AND IS REDUCING CAPACITY IN MIKRON MACHINING DIVISION AT AGNO SITE

* TWO OTHER DIVISIONS - MIKRON TOOL AND MIKRON AUTOMATION - ARE ALSO NOT AFFECTED

* MEASURE DOES NOT AFFECT INNOVATION PROJECTS AND MIKRON MACHINING DIVISION’S SERVICE BUSINESS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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