Draka Holding N.V.: CLOSURE OF COPPER DATA COMMUNICATION CABLE FACTORY IN Ã…RNES (NORWAY)
In continuation of the earlier announced additional cost savings plans within
Draka's Communications Group, the Board of Management of Draka Holding N.V.
announces that it intends to close its factory in Årnes (Norway). The factory is
dedicated to the manufacturing of copper data communication cables for Local
Area Network applications and employs around 125 people. The intention is to
move the existing production capacity to its other facilities in Europe. The
total termination of the activities has been communicated to the employees and
will be finalized before the end of this year.
Draka will inform the Works' Council and the Labor Authority about the legal
grounds for the aforementioned close down.
Commenting on the intended closure, Frank Dorjee, CEO of Draka Holding N.V.,
said:
'The intended closure of our factory in Årnes forms part of Draka's extended
Triple S cost savings programme which was announced in October 2009. In addition
to the earlier announced measures, group wide savings of approximately EUR 60
million per annum are expected to be realised in 2010. Going forward, Draka will
continue to look for further cost savings opportunities across the board.'
Amsterdam, 5 January 2010
Pdf version of the press release
Pdf versie van het persbericht
NOTE FOR EDITORS: for more information, please contact:
Draka Holding N.V.:
Michael Bosman - Director Investor Relations +31 20 568 9805;
michael.bosman@draka.com
Cautionary note regarding forward-looking statements
This announcement contains forward-looking statements. Forward-looking
statements are statements that are not based on historical fact, including
statements about our beliefs and expectations. Any statement in this
announcement that expresses or implies our intentions, beliefs, expectations or
predictions (and the assumptions underlying them) is a forward-looking
statement. Such statements are based on plans, estimates and projections as
currently available to the management of Draka. Forward-looking statements
therefore speak only as of the date they are made and we assume no obligation to
publicly update any of them in the light of new information or future events.
Forward-looking statements involve inherent risks and uncertainties. A number of
significant factors could therefore cause actual future results to differ
materially from those expressed or implied in any forward-looking statement.
Such factors include but are not limited to conditions on the markets in Europe,
the United States and elsewhere from which we derive a substantial portion of
our revenue, potential defaults on the part of borrowers or trading
counterparties, the implementation of our restructuring programme including the
envisaged reduction in headcount and the reliability of our risk management
policies, procedures and methods. For more information on these and other
factors, please refer to our annual report. The forward-looking statements
contained in this announcement are made as of the date hereof and the companies
assume no obligation to update any forward-looking statement contained in this
announcement.
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|2010 financial calendar (provisional) |
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| |
+-----------------------------------------+------------------------------------+
|Publication of 2009 full-year figures |Monday, 22 February 2010 |
| | |
| |(before start of trading) |
+-----------------------------------------+------------------------------------+
| | |
| | |
|General Meeting of Shareholders, the | |
|Rosarium (Amsterdam) | |
| |Tuesday, 20 April 2010, |
| |starting at 14:30h |
+-----------------------------------------+------------------------------------+
| | |
| | |
|Publication of trading update for the | |
|first half of 2010 | |
| |Tuesday, 18 May 2010 (before start |
| |of trading) |
+-----------------------------------------+------------------------------------+
|Publication of 2010 half-year figures | |
| |Thursday, 19 August 2010 (before |
| |start of trading) |
+-----------------------------------------+------------------------------------+
| | |
| | |
|Publication of trading update for the | |
|second half of 2010 | |
| | |
| |Thursday, 11 November 2010 (before |
| |start of trading) |
| | |
+-----------------------------------------+------------------------------------+
Company profile
Draka Holding N.V. ('Draka') is the holding company of a number of operating
companies that are active worldwide in the development, production and sale of
cable and cable systems. Draka?s activities are divided into three groups:
Energy & Infrastructure, Industry & Specialty and Communications.
Within these three groups, the activities are organised into divisions. Energy &
Infrastructure consists of the Europe and Asia-Pacific divisions; Industry &
Specialty consists of the Automotive & Aviation, Elevator Products, Cableteq USA
and Industrial divisions and the Communications Group comprises the Telecom
Solutions, Multimedia and Specials, Americas and Optical Fiber divisions.
Draka has 68 operating companies in 30 countries throughout Europe, North and
South America, Asia and Australia. Worldwide, the Draka companies employ some
9,900 people. Draka Holding N.V.'s head office is in Amsterdam. In 2008, Draka
reported revenue of EUR 2.7 billion and net income of EUR 83.5 million
(excluding non-recurring items).
Draka Holding N.V. ordinary shares and subordinated convertible bonds are listed
on NYSE Euronext Amsterdam. The company has been included in the Next150 index
since 2001 and the AMX index (Amsterdam Midkap index) since 4 March 2008.
Options on Draka shares are also traded on the NYSE Euronext Amsterdam
Derivative Markets.
More information on Draka Holding N.V. can be found at www.draka.com
.
[HUG#1370432]
