In spring 2013 Lindab launched the concept "Back to Basics - into the Future" aiming to increase sales and profitability for the company. As part of these efforts, an organisational change will be implemented from 1 October.
Lindab today announced a new organisational structure with increased focus on the local business which will strengthen the Group's total product offering. Lindab will capitalise on the synergies between the different product areas and the business area structure will be replaced by a geographically based organisation to leverage Lindab's strong market presence. This also means a change in Lindab's Executive Management.
President and CEO, Anders Berg, comments:
"Our mission is to strengthen Lindab and give the group the optimal structure to grow profitably. This requires enhanced focus on the Group as a whole with a more agile and customer-focused structure utilising the breadth of our offering and adapting it to the local markets. We will give even better service to our customers and we will enhance our market strategies for Distribution and Project sales.
Following the organisational change, the Ventilation and Building Components business areas will be merged, meaning that the respective Business Area Managers will also leave Lindab.
I would like to emphasise that this is a structural change to create "One Lindab" enabling profitable growth and faster speed of execution. The new, flatter organisation is aiming to create closer customer contacts, quicker decision paths and better use of resources."
After the reorganisation, the Executive Management team will consist of CEO, CFO and General Counsel. An Operational Management team leading the group has been formed, which in addition to the Executive Management team includes nine leading positions, all recruited internally.
The one-off costs for the restructuring implies an increase of approximately SEK 10 million to the previously announced one-off costs for the current cost-saving programme. Approximately SEK 30 million in one-off costs will be recorded during the third quarter.
Lindab will start to report according to the new structure as from the first quarter of 2014.
A webcast telephone conference will be held today at 10.30 a.m. (CET). Dial-in numbers: UK: +44 (0)20 3364 5372 and Sweden: +46 (0)8 5055 6477. Link to the webcast (live only).
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| The information here is that which Lindab International AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. |
Contacts:
LINDAB
Anders Berg, President and CEO
Email: anders.berg@lindab.com
Mobile: +46 (0) 70 35 89155
Per Nilsson, CFO
Email: per.nilsson@lindab.com
Mobile: +46 (0)70 33 85069
Lindab - A Ventilation and Building Products company:
Lindab develops, manufactures, markets and distributes products and system solutions primarily in steel for simplified construction and improved indoor climate.
The products are characterised by their high quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.
The Group had sales revenue of SEK 6,656 m in 2012 and is established in 31 countries with approximately 4,300 employees.
The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2012, the Nordic market accounted for 46 percent, the CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 23 percent, Western Europe for 28 percent and other markets for 3 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap. For more information visit www.lindabgroup.com
