(MENAFN - GlobeNewsWire - Nasdaq) itemprop="articleBody">
ROBIT PLC STOCK EXCHANGE RELEASE 25 JUNE 2019 AT 16.00
ROBIT SHARPENS IT'S DOWN THE HOLE STRATEGY
To develop the company's DTH business Robit is planning to sharpen it's Down the Hole manufacturing strategy and to reorganize the DTH production. In March 2019 the company decided to centralize the manufacturing of DTH bits from Robit Sherman factory to company's factory in Perth, Australia.
Now Robit is considering actions that would primarily concern manufacturing of Halco products and their manufacturing locations. The target of possible reorganization is to sharpen the company's Halco-strategy further under the parallel brand.
The measures have no impact on the business of Robit branded products.
Possible impact on personnel and costs of these measures will be announced later.
These arrangements have no impact on Robit's guidance for the 2019.
The company's goal in 2019 is to achieve positive EBITA profitability and a significant release of capital tied up in the business.
Tommi Lehtonen, CEO
Tel. +358 40 724 9143
Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, surface drilling and foundation, underground construction and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 15 of its own sales and service points throughout the world as well as an active sales network in 115 countries. Robit's manufacturing units are located in Finland, South Korea, Australia, the UK and the USA. Robit's shares are listed on NASDAQ Helsinki Ltd. Further information is available at: www.robitgroup.com
Distribution: Nasdaq Helsinki Ltd