UET United Electronic Technology AG / Key word(s): Miscellaneous/Miscellaneous
11.11.2013 15:00
Dissemination of a Corporate News, transmitted by DGAP - a company of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this
announcement.
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- Enhancement of competitiveness
- Further development of UET's business unit MANUFACURING
- Closing-down of production in Osterode and relocation to new business
premises
Eschborn, November 11th 2013
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn,
announces, that the restructuring project, which included the close down of
the production site of Letron electronic GmbH's in Osterode has been
completed successfully. The project had been started in October 2012.
Letron's customers were informed and closely involved in the process from
an early stage on. The closing-down became necessary to improve Letron's
structure and its competitiveness. Over the past years Letron had
consecutively generated losses. The Personnel was reduced by 37 employees.
A redundancy plan including a reconciliation of interests has been
implemented.
Already for the fourth quarter of the fiscal year 2013 Letron expects to
show positive results.
In the future, Letron will focus on customer support and project management
in order to aim for profitable growth. Since October 2013 production is
provided by other manufacturing sites within the UET group, mainly by the
site in Hartmannsdorf, Saxony.
An amount of 2,5mn EUR has been invested in new technologies, machinery and
process improvements. Letron's relocation to its new business premises is
already completed. Letron resides from now on at An der Leege 22, Osterode.
The group companies Letron and NewTal, which represent the MANUFACTURING
unit of the UET Group, continue to be part of UET's core business area and
will be developed on a long-term basis.
Contact:
UET United Electronic Technology AG
Frankfurter StraÃe 80-82
D-65760 Eschborn
Christina Tümmler
Phone: + 49 (0) 6196 777755-0
E-Mail: investor@uet-group.com
11.11.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: UET United Electronic Technology AG
Frankfurter StraÃe 80-82
65760 Eschborn
Germany
Phone: +49 (0)6196-7777550
Fax: +49 (0)6196-7777559
E-mail: investor@uet-group.com
Internet: www.uet-group.com
ISIN: DE000A0LBKW6
WKN: A0LBKW
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)
End of Announcement DGAP News-Service
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DGAP-News: UET United Electronic Technology AG: UET United Electronic Technology AG completes restructuring process for production site in Osterode
| Source: EQS Group AG