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Swissmetal anticipating negative operating results Dornach, December 22, 2010 Swissmetal reaped the benefits of a clearly improved economic climate in the latter half of 2010, achieving excellent capacity utilisation and keeping order books well filled. However, the company is nonetheless expecting a negative operating result in the region of CHF 10 - 14 m for the current year, before non-recurring items. This is largely attributable to an unfavourable Swiss Franc/Euro currency situation, a less than optimal product mix, and the additional costs associated with ATMOVA. For 2011 the company intends to focus more strongly on the needs of the market. As a consequence of this, the group has decided to curtail the business operations of its subsidiary Swissmetal Design Solutions AG (ATMOVA), which was established in 2007. The sale process is initiated. Swissmetal succeeded in further optimizing cost and streamlining its organizational structures in the second half of 2010, which had a positive impact on its internal processes and volumes produced. Despite the noticeable revival and excellent capacity utilisation, the expected operating results remain negative at 10-14 million. The anticipated one-off negative effects of the sale of Swissmetal Design Solutions AG (ATMOVA) have not yet been factored into the results. The company's objectives in 2011 will be to focus more closely on core competencies and to continue to refine its innovative product portfolio, which it is hoped will increase the company's efficiency and profitability. This strategic refocusing means that Swissmetal Design Solutions will be relinquished. "With this change we expect to improve our cash flows, achieve a consistent realignment of our business portfolio, and further strengthen both our client and our market orientation” said Olaf Schmidt-Park, Swissmetal Group CEO.
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