INFICON Aligns Capacities to Longer-term Expected Demand Trend
Publication of Half-year Results on July 21, 2009
Bad Ragaz/Switzerland, June 30, 2009. INFICON Holding AG (SIX Swiss Exchange: IFCN), a worldwide leading provider of instrumentation and process control software for advanced industrial vacuum processes, announced today that it will align its capacities to the lower, but stabilized demand in its target markets.
Following the drastic decline at the end of 2008, the economic situation in INFICON's target markets has stabilized over the last few months. Demand, however, is considerably lower than before. Based on current market projections, INFICON does not expect demand to pick up quickly in the near future and has thus decided to align its cost structure and capacities. The new measures extend beyond the company-wide cost reduction program announced in January of this year. Apart from further work-time reductions and temporary salary cuts, some additional 25 positions will be reduced. Most of the headcount adjustments, which will also include early retirement, will take place at the Liechtenstein production plant in Balzers. A social plan has been established. The one-time costs associated with these measures amount to between USD 1.5 and 1.8 million.
Publication of Half-Year Results on July 21, 2009
INFICON will disclose further details on its current business as well as the results for the second quarter and the first half-year 2009 on July 21, 2009 in a press release which will be distributed internationally at around 07:00 a.m. CEST (Central European Summer Time). A conference call has been scheduled for 09:30 CEST that same day.
The local dial-in numbers are as follows:
Europe: +41 (0)43 456 93 68
UK: +44 (0)207 153 89 42
USA (Toll free): +1 (1) 866 796 15 69
All participants should dial in at least 10 minutes prior to the call. There is no pin required to access the call. A live webcast of the conference call, including a visual presentation in addition to the audio, will also be available in the Investor Relations section of the INFICON Website, http://www.inficon.com. On the call, executive management will review the company's financial results for the second quarter. In addition, they will be available for questions from the investment community.
If you are unable to participate in the conference call, we invite you to view the webcast on demand and visual presentation in the Investor Relations section of the INFICON Website, http://www.inficon.com, which will be made available approximately one hour after the conference.
Email Alerts
To automatically receive notification via email of the latest financial information from INFICON, sign up for E-mail Alert in the Investor Relations section of the INFICON website.
ABOUT INFICON
INFICON is a leading provider of innovative instrumentation, critical sensor technologies, and advanced process control software that enhance the productivity and quality of sophisticated vacuum processes in highly specialized markets. These analysis, measurement and control products are essential for gas leak detection in air conditioning/refrigeration/automotive manufacturing. They are vital to original equipment manufacturers (OEMs) and end-users in the complex fabrication of semiconductors and thin film coatings for flat panel displays, solar cells, magnetic and optical storage media, scientific and consumer optics, and architectural glass coatings. Other industrial users of our vacuum technology include the life sciences, research, aerospace, food packaging, heat treating, sterilization, and laser cutting. We also leverage our expertise in vacuum technology to provide unique, toxic chemical analysis products for emergency response, security, and environmental monitoring. INFICON has world-class manufacturing facilities in Europe, the United States, and China and subsidiaries in China, France, Germany, Japan, Korea, Liechtenstein, Singapore, Switzerland, Taiwan, the United Kingdom and the United States. INFICON registered shares (IFCN) are listed on SIX Swiss Stock Exchange. For more information about INFICON and its products, please visit www.inficon.com.
This press release and oral statements or other written statements made, or to be made, by us contain forward-looking statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Bad Ragaz/Switzerland, June 30, 2009. INFICON Holding AG (SIX Swiss Exchange: IFCN), a worldwide leading provider of instrumentation and process control software for advanced industrial vacuum processes, announced today that it will align its capacities to the lower, but stabilized demand in its target markets.
Following the drastic decline at the end of 2008, the economic situation in INFICON's target markets has stabilized over the last few months. Demand, however, is considerably lower than before. Based on current market projections, INFICON does not expect demand to pick up quickly in the near future and has thus decided to align its cost structure and capacities. The new measures extend beyond the company-wide cost reduction program announced in January of this year. Apart from further work-time reductions and temporary salary cuts, some additional 25 positions will be reduced. Most of the headcount adjustments, which will also include early retirement, will take place at the Liechtenstein production plant in Balzers. A social plan has been established. The one-time costs associated with these measures amount to between USD 1.5 and 1.8 million.
Publication of Half-Year Results on July 21, 2009
INFICON will disclose further details on its current business as well as the results for the second quarter and the first half-year 2009 on July 21, 2009 in a press release which will be distributed internationally at around 07:00 a.m. CEST (Central European Summer Time). A conference call has been scheduled for 09:30 CEST that same day.
The local dial-in numbers are as follows:
Europe: +41 (0)43 456 93 68
UK: +44 (0)207 153 89 42
USA (Toll free): +1 (1) 866 796 15 69
All participants should dial in at least 10 minutes prior to the call. There is no pin required to access the call. A live webcast of the conference call, including a visual presentation in addition to the audio, will also be available in the Investor Relations section of the INFICON Website, http://www.inficon.com. On the call, executive management will review the company's financial results for the second quarter. In addition, they will be available for questions from the investment community.
If you are unable to participate in the conference call, we invite you to view the webcast on demand and visual presentation in the Investor Relations section of the INFICON Website, http://www.inficon.com, which will be made available approximately one hour after the conference.
Email Alerts
To automatically receive notification via email of the latest financial information from INFICON, sign up for E-mail Alert in the Investor Relations section of the INFICON website.
ABOUT INFICON
INFICON is a leading provider of innovative instrumentation, critical sensor technologies, and advanced process control software that enhance the productivity and quality of sophisticated vacuum processes in highly specialized markets. These analysis, measurement and control products are essential for gas leak detection in air conditioning/refrigeration/automotive manufacturing. They are vital to original equipment manufacturers (OEMs) and end-users in the complex fabrication of semiconductors and thin film coatings for flat panel displays, solar cells, magnetic and optical storage media, scientific and consumer optics, and architectural glass coatings. Other industrial users of our vacuum technology include the life sciences, research, aerospace, food packaging, heat treating, sterilization, and laser cutting. We also leverage our expertise in vacuum technology to provide unique, toxic chemical analysis products for emergency response, security, and environmental monitoring. INFICON has world-class manufacturing facilities in Europe, the United States, and China and subsidiaries in China, France, Germany, Japan, Korea, Liechtenstein, Singapore, Switzerland, Taiwan, the United Kingdom and the United States. INFICON registered shares (IFCN) are listed on SIX Swiss Stock Exchange. For more information about INFICON and its products, please visit www.inficon.com.
This press release and oral statements or other written statements made, or to be made, by us contain forward-looking statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.