Cicor with further adjustment of capacities to weak demand

As part of the company's succession planning, Pascal Keller is joining Group Management and taking over from André Müller as head of the Printed Circuit Board Division on 1 June 2009. Cicor Technologies is proposing to deal with the reduced need for capacity in the Electronic Manufacturing Services Division (EMS) by introducing short-time working as from March 2009. This will affect about 30 employees at the Jona plant in Canton St. Gallen. If the economic environment remains difficult for the Group, and especially if the orders coming into each Division are lower than expected, it is also possible that jobs will have to be cut in future. The reduction in capacity falls under the existing package of measures designed to adjust cost structures to business volumes. The Board of Directors of Cicor Technologies has appointed Pascal Keller (41) as the new Head of the Printed Circuit Board Division and as Member of Group Management with effect from 1 June 2009. As part of a planned succession process he replaces the current head André Müller, who is leaving at the end of April 2009. Mr. Müller will continue to be available to the company as an advisor during the transition period. Pascal Keller brings broad manufacturing experience at senior level of operational management into the Group. He is a qualified engineer and graduate of an Executive MBA programme (ESSEC) and an AMP Senior Management programme (Wharton Business School). The Board of Directors would like to thank André Müller for the exceptional contribution he has made to the development of the Printed Circuit Board Division.