August 22, 2019 / 12:41 PM / a year ago

Austria's AMS aims to complete Osram's integration within three years: CFO

FILE PHOTO: The headquarters of lamp manufacturer Osram is pictured in Munich, Germany, August 13, 2019. REUTERS/Michael Dalder

VIENNA (Reuters) - Austria’s AMS (AMS.S) aims to complete the integration of Osram Licht (OSRn.DE) after a takeover within three years and then run the German company as a 100% subsidiary, the finance chief of the Swiss-listed group told Reuters.

AMS will focus on key technologies for the auto industry to realize the planned revenue growth, Michael Wachsler-Markowitsch said on Thursday, adding that “there will have to be a reduction of staff”.

AMS’ medium-term growth scenarios were based on solid projects with the automotive industry, he said.

Reporting by Kirsti Knolle; Editing by Thomas Seythal

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