The NSG Group announces that it has decided to adjust the production schedules of automotive glass at the Witten site of the Group’s subsidiary in Germany, Pilkington Automotive Deutschland GmbH.
This decision is a direct consequence of a review of the current and medium-term weak demand situation with continuous cost pressure in the German and wider European automotive glass market.
The Group aims to improve profitability while optimizing productivity and efficiency, confident that European markets will recover over the medium-to-long term with gradual improvement of vehicle production.
This measure will result in a reduction of the workforce at the site of approximately 80 employees. Pilkington Automotive Deutschland GmbH is in continuous contact with employee representatives to implement this process in a fair and transparent manner.
As a result of this decision, the Group expects to record an exceptional cost of approximately JPY 1.1 billion for the financial year ending March 31, 2025, representing redundancy and other one-off costs. The Group’s full-year forecast for the financial year ending March 31, 2025, including this exceptional cost will be disclosed after review