|   Schopfloch

HOMAG Group and works’ councils reach agreement on FRIZ restructuring

Reconciliation of interests and redundancy plan agreed | Restructuring to be completed in first half of 2013

The management of HOMAG Group AG and the management of FRIZ Kaschiertechnik GmbH, Weinsberg, have reached an agreement with the works’ council of FRIZ Kaschiertechnik GmbH and the group works’ council concerning the terms of the planned restructuring. A reconciliation of interests and a redundancy plan were agreed.

A total of 26 employees will continue to be employed at the Weinsberg site, where profile wrapping machines will still be developed and produced. FRIZ, a brand with a strong tradition, will be kept for this product. Service activities will also be maintained at the site. In close cooperation with FRIZ Kaschiertechnik GmbH, HOMAG Holzbearbeitungssysteme GmbH in Schopfloch will continue to offer the laminating technology under the HOMAG brand. The other 26 employees affected by the restructuring can all join a transfer company. The restructuring of FRIZ Kaschiertechnik GmbH is to be completed in the first half of 2013.

The CFO and personnel director of HOMAG Group AG, Hans-Dieter Schumacher, commented positively on the outcome of the negotiations: “The agreement now reached marks an important milestone in the restructuring. Together with the works’ councils, we were able to find a viable solution for all parties concerned. This necessary measure strengthens the HOMAG Group’s competitiveness.”

Hannelore Knowles, chairwoman of the group works’ council, is also satisfied with the result achieved: “Under the given circumstances, our top priority was to ensure that as many employees as possible keep their jobs. For the remaining employees, we wanted to achieve the most socially acceptable transition. We succeeded in doing this with the agreements that have been reached.”

 

Disclaimers
This press release contains certain statements relating to the future. Future-oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as “believes”, “estimates”, “assumes”, “forecasts”, “intend”, “may”, “will”, “should” or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this announcement, it cannot be guaranteed that the same will hold true in the future.

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