European Automotive Plants

The NSG Group has informed employee representatives in its European Automotive Glass business of its intention to close those of its fabrication plants listed below:1.

Outline of the plants

(1)Ylöjärvi

     Location: Ylöjärvi, Finland

     Business: Automotive Glass for OEM and AGR

     Facilities: Laminating Manufacturing

     Number of employees: Approximately 320 persons

(2)Orja

     Location: Landskrona, Sweden

     Business: Automotive Glass for OEM and AGR

     Facilities: Toughening Glass Manufacturing

     Number of employees: Approximately 100 persons

2. Rationale, and outline of the proposal

The Group is taking action to reduce capacity and output to match the requirements of its customers, consistent with its restructuring program, originally announced on 2 February 2012. These closures are expected to be completed during the calendar year 2013.

3. Estimated costs and benefits of this decision

(1)Total cost: Approximately EUR31 m (JPY3.1 bn)

    (a)Cash expenses: Approximately EUR17m (JPY 1.7 bn)

    (b)Non-cash charges: Approximately EUR14m (JPY1.4 bn)

(2)Recurring profit benefit: Approximately EUR14m (JPY1.4 bn)

4. Impact on operations

These actions are anticipated within the Group’s previously announced forecast for the current financial year and no change to that forecast is therefore expected as a result of this announcement.

600450 European Automotive Plants glassonweb.com
Date: 29 October 2012
Source: www.nsg.com

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