Lindab's Building Systems Division sees a 50 percent drop in sales
volumes for the first six months
Lindab's Building Systems Division sees a 50 percent drop in sales volumes for the first six months of 2009 and announces closure of Hungarian plant
(Thomson Reuters ONE) - The first six months of 2009 has seen a significant deterioration inthe trading conditions for Lindab's Building Systems Division, withvolumes down by approximately 50 percent compared to the same periodin 2008. Market conditions are expected to remain tough for theforeseeable future and in order to align capacity and reduce costs,Lindab is closing down its Building Systems production unit inNyiregyhaza, Hungary.The production plant will be closed by the end of July 2009. Theannual saving is estimated at SEK 35 m and the full effect will besubstantially achieved during the third quarter of 2009. The relatedone-time cost is estimated at approximately SEK 27 m. The measureincludes a staffing cutback of approximately 110 employees and is apart of Lindab's ongoing review of costs.Lindab considers that the Czech Republic Building Systems plant hasadequate capacity to effectively serve the CEE markets, now and inthe long term, and this will be complemented with the new Russiaplant for the CIS region.David Brodetsky, President and CEO, comments:"Building Systems is heavily exposed towards the new build segmentand the CEE markets. The volumes and performance of the division havebeen severely affected by the prevailing market situation. Althoughvisibility is low, we predict that the current market situation willcontinue to deteriorate during the remainder of 2009. As aconsequence it has been necessary to better align capacity withdemand, resulting in the decision to close the Hungarian BuildingSystems plant. Overall, the measure to have one major BuildingSystems production unit within Western Europe, CEE and CISrespectively will reduce our cost base and optimise our productionstructure for the long term."EndThe information here is that which Lindab International AB haswillingly chosen to make public or that which it is obliged to makepublic according to the Swedish Securities Market Act and/or theFinancial Instruments Trading Act.Contacts:LINDABDavid Brodetsky, CEOEmail: david.brodetsky(at)lindab.comMobile: +46 (0)732 745 418Nils-Johan Andersson, CFOEmail: nils-johan.andersson(at)lindab.comTel. +46 (0)431 850 75Mobile: +46 (0)70 668 5075About Lindab:Lindab is an international group that develops, manufactures andmarkets sheet metal products and system solutions for theconstruction sector.The two business areas, Profile and Ventilation offer completesolutions for construction systems and indoor climate, as well asindividual construction and ventilation components for all types ofbuildings.Lindab is listed on the Nasdaq OMX Nordic Exchange, Stockholm, LargeCap under the ticker "LIAB".The Lindab group has approximately 5,000 employees in 31 countriesand generated sales of SEK 9,840 million in 2008. Its head office islocated in Grevie near BÃ¥stad in southwestern Sweden. For moreinformation visit www.lindabgroup.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 06.07.2009 - 04:01 Uhr
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