DGAP-News: SURTECO GROUP SE: Resolution passed on comprehensive restructuring measures; investments in process optimization and digital printing; changes in the Management Board
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DGAP-News: SURTECO GROUP SE
/ Key word(s): Restructure of Company/Personnel
SURTECO GROUP SE: Resolution passed on comprehensive restructuring measures; investments in process optimization and digital printing; changes in the Management Board Munich, 19 December 2019 - At its meeting today, the Supervisory Board of SURTECO GROUP SE passed a resolution relating to comprehensive measures designed to optimize the structure of the company. "There is no alternative to the planned restructuring measures. Equally important, is investing in growth areas such as supermatt surfaces, release papers, digital printing and the area of profiles," commented Wolfgang Moyses, the Chairman of the Management Board of SURTECO GROUP SE. Owing to the demand-related under-utilization of capacity and optimization of the production network over the long term, one-off write-downs on assets and inventories are also being carried out in the business year 2019. Investments in equipment and buildings Changes in the Management Board 1 The use of indicators in this press release is carried out in accordance with the definition in the Annual Report 2018. This can be called up at www.surteco-group.com.
Profile of SURTECO SURTECO GROUP SE with registered office in Buttenwiesen is a mid-sized holding company with international operations. The company listed on the stock exchange combines leading national and international brands for surface technology under one roof. The comprehensive product portfolio includes papers printed with decor designs, impregnated materials, release papers, decorative flat foils and edgebandings based on specialist technical papers and plastics. This portfolio is complemented by skirtings made of plastics, technical extrusions (profiles) for industry, and roller shutter systems. With more than 3,300 employees at 23 production sites worldwide, the Group generates annual sales of around EUR 700 million in 2018. 24 % of these sales are generated in Germany, 47 % in European countries outside Germany and a further 29 % in America, Asia and Australia. Customers of the SURTECO Group primarily come from the wood-based, flooring and furniture industries, as well as from interior design. The shares in SURTECO GROUP SE are listed on the official market (Prime Standard) of the Frankfurt and Munich Stock Exchanges under the ticker symbol SUR and ISIN DE0005176903. They are also traded on the stock markets in Berlin, Düsseldorf and Stuttgart.
Cautionary note regarding forward-looking statements This press release may contain statements of future forecasts or expectations and other forward-looking statements and involves known and unknown risks and uncertainties. There is therefore no guarantee for the statements and expectations expressed herein. The actual results and developments may differ substantially. The company assumes no obligation to update any forward-looking statements contained herein or to adapt such information to future results or developments.
19.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | SURTECO GROUP SE |
Johan-Viktor-Bausch-Str. 2 | |
86647 Buttenwiesen | |
Germany | |
Phone: | +49 (0)8274 99 88-0 |
Fax: | +49 (0)8274 99 88-5 05 |
E-mail: | [email protected] |
Internet: | www.surteco-group.com |
ISIN: | DE0005176903 |
WKN: | 517 690 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
EQS News ID: | 940091 |
End of News | DGAP News Service |
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940091 19.12.2019
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