Staff Cuts at Daetwyler Rubber Czech Republic

Altdorf, (PresseBox) - In the past, the Daetwyler Rubber Division acquired in two phases today's Daetwyler Rubber CZ s.r.o. in the Czech Republic, investing in the Novy Bydzov plant to adapt it to new requirements. For one of the former proprietors, Daetwyler acts as a third party manufacturer. This manufacturing contract expires end 2008, necessitating a cutback of 100 employees. This cutback will take place in form of temporary contracts expiring, natural fluctuations and approx. 50 redundancies. This represents not quite 25% of all staff at the Novy Bydzov site. This event leads to a minimal diminution of the annual result 2008 for the Daetwyler Rubber Division. It does, however, not have any influence on company strategy.

Dätwyler Holding AG

The Daetwyler Group is an international multi-niche player dedicated to industrial component supply and distribution of engineering and electronic components. Its activities concentrate on attractive markets and niches that offer opportunities to increase value added and sustain profitable growth. Having sold the Precision Tubes Division (on 28 December 2007), Daetwyler is focusing on the industrial, construction and pharmaceutical markets with a technology portfolio based on rubber and electrical engineering. The Daetwyler Group comprises the Cables, Rubber, Pharmaceutical Packaging and Technical Components Divisons. With more than 50 operating companies, sales in over 100 countries and some 4,700 employees, the Daetwyler Group generates over CHF 1,400 million in revenue. The Group has been listed on the main board of the SWX Swiss Exchange since 1986 (security number 3048677).

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