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Provider: Reuters Investment Profile
Provider: Thomson Reuters StreetEvents

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Royal Imtech NV Announces Reorganization-DJ

Monday, 22 Apr 2013 08:00pm EDT 

Dow Jones reported that Royal Imtech NV announced a reorganization in order to strengthen the competitiveness and profitability of the companies in the Netherlands. This mainly concerns capacity reductions in the office buildings market and the Infra business in response to the changed market conditions. As part of this reorganization, a cost-savings and an efficiency program has commenced in Germany. The planned personnel and cost reductions will further support the German operations’ effectiveness and profitability. Various smaller efficiency programs will be implemented in parts of several other Imtech companies, depending on the market and company conditions. The total anticipated reorganization charges in 2013 will amount to approximately EUR 80 million and will lead to a loss of 1.300 jobs, particularly in the Netherlands and Germany. The Company will consult the Works Council and trade unions regarding implementing the reorganization plan. 

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