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VAT Group AG (VACN.S)

VACN.S on Swiss Exchange

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Fri, Mar 29 2019

Switzerland's VAT keeps limits on work hours, citing gloomy chip market

ZURICH, March 29 Swiss vacuum valve maker VAT Group on Friday said it is prolonging shorter working hours for 400 production employees for another three months through June 30, citing persistent soft market conditions particularly in semiconductor equipment.

UPDATE 1-Chip industry woes force Switzerland's VAT to extend short work hours

* Analysts fear 2019 could get worse (Adds details, company comment, analyst comment)

Semiconductor woes force Switzerland's VAT to extend work cuts

ZURICH, Dec 19 Weak demand from semiconductor customers forced Swiss vacuum valve maker VAT Group to keep 400 production employees on shorter working hours as it seeks to manage a prolonged market slump without shedding trained staff.

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