Maintal, November 5, 2019 - Today, the Supervisory Board of NORMA Group SE (ISIN DE 000A1H8BV3 / WKN A1H8BV, 'NORMA Group'), a global market leader in engineered joining and fluid-handling technology, has approved a change program "Get on track", as resolved by the Management Board. The aim of this program is to increase NORMA Groups' profitability and flexibility. It includes the optimization of site capacities across all regions, a streamlining of the product portfolio, in particular through an active portfolio management, as well as improvements in purchasing. The change program should result in cost savings starting in 2020, which shall increase until 2023 to annually EUR 40 million to EUR 45 million. The accumulated total cost volume for the implementation of the measures is expected to be around EUR 45 million to EUR 50 million until 2023. The costs incurred in the program will be shown on an unadjusted basis. The program "Get on track" includes measures that go beyond the "Rightsizing program" already communicated. Contact: Andreas Trösch Vice President Investor Relations E-mail: Andreas.Troesch@normagroup.com Phone: +49 (0)6181 - 6102 741
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05-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: NORMA Group SE Edisonstr. 4 63477 Maintal
Germany Phone: +49 6181 6102 741 Fax: +49 6181 6102 7641 E-mail: firstname.lastname@example.org Internet: www.normagroup.com ISIN: DE000A1H8BV3 WKN: A1H8BV Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 904537 End of Announcement DGAP News Service
904537 05-Nov-2019 CET/CEST