Possible layoffs at Neways

All NEE activities, including the entire inventory of machines, will be moved and redistributed to the other Neways operating companies. Which means that some of Neways planned investments in capacity expansion no will no longer be necessary. The redistribution of NEE’s activities will lead to reduced investment levels and structural cost savings of as much as several million euros annually from mid-2013 onwards. Neways will set aside a provision to cover the one-off costs of the move and charge this to the 2013 results. The company aims to provide alternative positions at other Neways operating companies for as many of the 100 employees as possible. And is also in the works with different unions to save as many jobs as possible. Whilst sill maintaining a greater proportion of flexible employees.