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ROBIT PLC STOCK EXCHANGE RELEASE 03 July 2019 AT 16.00
ROBIT RENEWS ITS DOWN THE HOLE – BUSINESS
Robit Plc has decided to sharpen the manufacturing operations of its DTH business segment and has decided to unify the production of the Brighouse products (UK) to the other manufacturing units in Chesterfield (UK) and Perth (AU).
DTH business segment represents over 50% of Robit Plc's net sales. The reorganization will further sharpen the company's DTH- strategy especially for the Halco brand.
Halco will be strengthened as a Sales-Service & Engineering company in selected market segments in the global market under the known Halco-brand.
As a result of these measures, the impact on personnel will be at maximum 25 persons. The transfer of production is planned to take place by the end of September 2019. The new structure creates better conditions to meet the global competition thanks to the improved cost structure.
Thanks to these renewals also the volumes and utilization will increase in the mentioned two
DTH- manufacturing units in Chesterfield(UK) and Perth (AU).
With these decisions Robit targets an improvement in its profitability and efficiency. The company also prepares itself simultaneously for the potential Brexit in UK.
Robit will record costs relating to these decisions and report these as adjustment items in the H1/2019 and full year report when they materialize according to IFRS standards. The savings originated from these measures cover on annual level the reorganizing costs. Robit will provide further information on the cost effects of these measures in its interim report to be published on the 7th August 2019.
Tommi Lehtonen, CEO
Tel. +358 40 724 9143
Harri Sjöholm, chairman
puh.+ 358 400 622092
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