The Management Board and Supervisory Board of Heidelberger Druckmaschinen AG (Heidelberg) has today reached a decision to restructure the company. In order to make implementation of the Heidelberg strategy even more efficient, the company will be split into the “Heidelberg Equipment”, “Heidelberg Services”, and “Heidelberg Financial Services” divisions from April 1, 2010.
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Based on an initial analysis of business development in the second quarter (July 1 to September 30) of the 2009/10 financial year and in light of the latest economic and market forecasts, Heidelberger Druckmaschinen AG (Heidelberg) does not expect the level of investment in the print media industry to rise in the current financial year.
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The management and employee representatives of Heidelberger Druckmaschinen AG (Heidelberg) have agreed on a reconciliation of interests and a redundancy plan for around 1,300 job cuts at the company's German sites in Heidelberg, Wiesloch/Walldorf, Amstetten, Brandenburg, Ludwigsburg, and Mönchengladbach.
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Heidelberger Druckmaschinen AG (Heidelberg) has concluded negotiations on its new financing concept, thereby securing the Group's liquidity for the next few years.
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Faced with the continuing poor demand resulting from the global economic and financial crisis, the Management Board of Heidelberger Druckmaschinen AG (Heidelberg) has decided to take further measures to ensure the company’s competitiveness and efficiency.
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