Restructuring of FLS Aerospace

Continuing latter years' efforts to adjust FLS Aerospace to the market situation with a view to improving its unsatisfactory earnings, a decision has been made to introduce further changes in the business and the organisation. The details of the restructuring process will be decided and implemented over the next few months. The overall plans for the restructuring are today being announced at meetings for the staff in the UK and Ireland.

The plans will entail specialisation at individual centres of the functions and activities previously carried out at several of the company's service centres in the UK and Ireland. This concentration and streamlining of the activities will entail an 8 - 10 per cent reduction of the workforce.

Implementation of the plans will incur costs in the region of DKK 50m and will have a significant positive impact on earnings for the latter half of the year.

The ongoing sales negotiations, which are progressing according to plan, will not be affected by the planned restructuring.

FLS Industries A/S
Corporate Public Relations