KAP AG
KAP AG: KAP AG PLANNING EXTENSIVE REORGANISATION OF THE ENGINEERED PRODUCTS SEGMENT
KAP AG / Key word(s): Restructure of Company Publication of insider information pursuant to Art. 17 MAR
Fulda, 22 January 2020 – KAP AG’s Management Board and Supervisory Board today decided on an extensive reorganisation of the engineered products segment. The reorganisation measures target the sustainable improvement of profitability in this segment. In order to achieve this, operating activities with a negative contribution margin will be abandoned. KAP AG is therefore planning the complete closure of the Fulda site, whose focus is on the production of cord fabric, and of a site in the Czech Republic, where in particular soft cords and raw twines are produced. Moreover, another site in the Czech Republic that manufactures tents and technical fabrics is to be sold. The above activities accounted for revenue totalling around EUR 40 million in the 2019 financial year. We currently expect the expenses associated with the aforementioned reorganisation measures only to affect the Group’s development in the 2020 financial year and to be in the single-digit millions, while the liquidity situation is more likely to improve over the same period due to releases in current assets.
Kirchhoff Consult AG About KAP
22-Jan-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | KAP AG |
Edelzeller Straße 44 | |
36043 Fulda | |
Germany | |
Phone: | 06611030 |
Fax: | 0661103830 |
E-mail: | office@kap.de |
Internet: | www.kap.de |
ISIN: | DE0006208408 |
WKN: | 620840 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
EQS News ID: | 959181 |
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