Kahl am Main, March 30, 2009 – The SINGULUS TECHNOLOGIES Group (SINGULUS) today concluded a company agreement with the Works Council and approved a redundancy scheme for its Kahl location. The company will need to shed 54 employees at Kahl/Main in order to bring capacity in line with the change in market conditions. In parallel to the personal measures, SINGULUS will continue the reduction of its costs in general.
In September 2008 the company had decided to discontinue unprofitable peripheral business areas and to concentrate in future on the core business areas Optical Disc and Solar. Due to the marked downturn in sales of CD and DVD machines since the second half of 2008 as well as general negative trend in the global business environment, the company feels impelled to take these measures.
Stefan A. Baustert, CEO of SINGULUS, remarked: "By adopting a corporate focus on the core areas of Optical Disc and Solar, we nevertheless believe that in spite of the actual difficult market environment the company is well positioned for the future. Both the solar market and the market for the new Blu-ray Discs are young markets that will only start to develop vigorously over the next few years, thus safeguarding SINGULUS' positive performance."
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SINGULUS adjusts personnel capacity to reflect change in market conditions
March 30, 2009