German fireproof products manufacturer, Didier-Werke AG, is suffering from much worsening earnings, according to a recent report.
Operating profits slumped dramatically to DM 1.4 million from DM 30.6…
German fireproof products manufacturer, Didier-Werke AG, is suffering from much worsening earnings, according to a recent report. Operating profits slumped dramatically to DM 1.4 million from DM 30.6 million. Ordinary business generated DM 3.1 million. The management board does not consider 1998“s cost-cutting measures to have been sufficient, the report said. A drastic cost-cutting programme has consequently been drawn up with Didier“s majority owner, the Austrian RHI group, to be implemented in the second half. Overcapacities have been reduced and structures for sales and overheads streamlined. Diverse activities in independent companies are to be hived off or merged into RHI“s activities in Vienna. From 1 January 2000, the workforce is to be cut from 215 to 90. In the first six months, turnover fell to DM 555.1 million (790 million).