Key Developments: Husqvarna AB (HSQVY.PK)
11.36USD
18 Jun 2013
$-0.25 (-2.15%)
$11.61
$11.36
$11.36
$11.36
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$13.10
$8.50
Latest Key Developments (Source: Significant Developments)
Husqvarna AB Announces Mr. Kai Warn New Chief Executive Officer and President
Husqvarna AB announced that the Board of Directors of the Company has appointed Mr. Kai Warn as Husqvarna's new Chief Executive Officer and President. He will replace Mr. Hans Linnarson on July 1, 2013. Mr. Linnarson will continue to work for the Company until he retires early 2014. Full Article
Husqvarna AB Announces Details on FY 2012 Dividend
Husqvarna AB announced that its Board of Directors proposes a dividend for the financial year 2012 of SEK 1.50 per share and April 16, 2013 as record date for the dividend. If the Annual General Meeting resolves in accordance with the Board of Directors’ proposal, the estimated date for payment of the dividend from Euroclear Sweden AB is April 19, 2013. Full Article
Husqvarna AB Proposes FY 2012 Dividend of SEK 1.50 per Share
Husqvarna AB announced that its Board proposes fiscal year 2012 dividend of SEK 1.50 per share. This is unchanged from fiscal year 2011. Full Article
Husqvarna AB to Invest in New Production Facility
Husqvarna AB announced that it has decided to invest in a new production facility for manufacturing of chainsaw chains in Huskvarna, Sweden, where the Group already manufactures professional chainsaws, brush cutters and trimmers. The Group will also invest in expanded capacity for manufacturing of cylinders for two-stroke engines for chainsaws in the Group’s facilities in Nashville, the United States and in Huskvarna, Sweden. In 2015, the new facility in Huskvarna will employ over 100 people. The investments will amount to approximately SEK 1 billion during period between 2013 and 2015. Full Article
Husqvarna AB to Divide Sales and Service Europe & Asia/Pacific Business Unit into Two Units
Husqvarna AB announced that effective January 1, 2013, the Husqvarna Group has decided to divide the Sales and Service Europe & Asia/Pacific business unit into two new business units – Sales and Service Europe, and Sales and Service Asia/Pacific. Ms. Frida Norrbom Sams has been appointed Executive Vice President, Head of Sales and Service Europe, and will become new Member of Group Management. The change will enable further concentrated efforts in the European region while at the same time putting a stronger focus on the growing markets in the Asia/Pacific region. The change will not imply any changes in the external financial reporting, that is results will still be reported for the current business area Europe & Asia/Pacific. Full Article
Husqvarna AB Plans to Cut Approximately 600 Jobs
Husqvarna AB announced that it plans measures to improve the Group's cost structure. The measures include layoffs in several countries, including Sweden. The proposed measures include a reduction of approximately 600 employees, whereof almost half are in Sweden, mainly in Huskvarna. Measures are planned to be implemented during the first six months of 2013 after negotiations with the respective unions. Cost savings will be achieved gradually and full annual effect of around SEK 220 million will be reached during 2014. For 2013 cost savings are estimated at around SEK 160 million. Costs for implementing these measures are estimated at approximately SEK 250 million, which will be charged to the operating income for the fourth quarter of 2012. In addition to the above, the Group will during 2013 also benefit from cost savings of around SEK 50 million. The savings relate to measures under previously announced restructuring, including relocation of manufacturing from Sweden to Poland, which began in 2010. Full Article
Husqvarna AB To Take Legal Action Against Positec Germany GmbH In Connection to Patent for Robotic Mower Technology Dispute-Reuters
Reuters reported that Husqvarna AB is to take legal action against Positec Germany GmbH claiming that the company's Worx robotic mower infringes two of the Company's patents for robotic mower technology. Full Article
UPDATE 1-Husqvarna says cautious on Europe after profit miss
* Q1 operating profit 688 mln SEK vs poll forecast 803 mln
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