31.01.2005

Jobs to be cut in production plant in Vaux Andigny

    Gränichen, Switzerland, January 31, 2005. – Zehnder Group, with international operations in the indoor climate sector (radiators and comfort ventilation) informs that the productivity figures have steadily increased at the French works in Vaux Andigny for some years now. At the same time, demand for the products manufactured there is declining. This has led to a growing and noticeable underutilization of capacity. In 2003 the number of temporary staff was adjusted for the lower employment level and, with lower demand in 2004, short-time working was introduced on 25 days.

    Management assumes that productivity will grow again in 2005 but that demand will not recover adequately. This means that underutilization of capacity will increase further. Consequently, the local management has decided to initiate a restructuring project which, among other measures, includes cutting approximately 100 jobs.

    In line with French law, local management has put forward this reorganization plan to the employee representatives.

    The Vaux Andigny plant has some 400 employees.

    René Grieder
    Moortalstrasse 1
    5722 Gränichen
    Switzerland

    Chief Financial Officer

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