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DJ EANS-Adhoc: Villeroy & Boch AG / Villeroy & Boch signs a series of measures to increase its competitive ability

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  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
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20.03.2009 

Financial crisis forces the company to take action - Sites to be consolidated  -
Some 900 jobs eliminated worldwide - Annual savings of  approx.  EUR50  million
- Costs of these measures will impact 2009 performance 

In the meeting of the supervisory board that took place today, the executive
board and supervisory board of Villeroy & Boch signed an extensive series of
measures for its European sites. The goal is to increase the company's
efficiency and productivity.
The program focuses on consolidating fields of specialisation at particular
sites, creating competence centres and continuing to automate production
processes. The corporate group also plans to downsize its international staff
of 9250 by some 900 positions. Discussions with employee representation have
been initiated. 

By 2011, after all of these measures are implemented, Villeroy & Boch
anticipates being able to save some 50 million euros annually. In the 2009
business year, however, the costs of these measures will total around 60
million euros and will have a strong impact on this year's performance results.
Approximately 25 million euros of investments in these measures are planned for
the entire corporate group in 2009 and 2010. 

end of announcement                               euro adhoc
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(END) Dow Jones Newswires

March 20, 2009 03:34 ET (07:34 GMT)