Cicor’s New Trend: Thin Film Tech Moves to Wangs!
Well, folks, gather ’round as we unveil the latest scoop in the corporate saga that is Cicor Technologies Ltd.! They’ve called it—a momentous decision to concentrate their thin film technology business area at their site in Wangs, Switzerland. No, it’s not a new reality show titled “Keeping Up with the Cicor,” but it certainly has all the twists and turns of a dramatic season finale!
The Great Closure: Goodbye Ulm, Hello Wangs!
As per their announcement on October 18, 2024, our dear friends at Cicor have decided to shutter their Ulm location by the end of June 2025. You know, it’s like that one friend who always overpacks for a trip, then realizes they can carry it all in one suitcase if only they’d focus on what really matters! Now that’s a life lesson!
Now, let’s not feel too glum. The thin film production is moving to the sleek and stylish location of Wangs (ah, Switzerland—a place where even the chocolate looks fancy). The facility is all set to produce identical components that could make even the most robust tech enthusiasts giddy with excitement!
Behind the Decision: Why Wangs Wins
Now, why this strategic pivot to Wangs, you ask? Simple! By consolidating their machinery (and let’s be honest, their sanity), Cicor aims to cut down on complexity, boost flexibility, and manage risks better. Basically, it’s a corporate spring cleaning—out with the old, and in with… more Wangs! They’re here for the long haul, folks! This consolidation makes economic sense, especially since keeping the Ulm location operational was about as useful as a chocolate teapot.
A Bittersweet Switch for Employees
But if only that were the end of the story! Unfortunately, this restructuring is also a classic case of “one person’s gain is another person’s pain.” Approximately 30 employees will find their roles needlessly impacted. It’s not exactly the warm hug job transition they were hoping for. But don’t worry, not all is lost! They will have the delightful option to relocate to the scenic Wangs location or perhaps dabble in a sales career in the lovely Ulm region. Sounds like a choose-your-own-adventure book, but with a slightly tighter plot!
A Silver Lining: Better Future Prospects
For the optimistic among us, Cicor assures that this transition will enhance the financial muscle of their Advanced Substrates Division in the long run. After all, who doesn’t love a story with a happy ending? According to their heartwarming announcement, this restructuring will initially burden their EBITDA—yes, thrilling stuff—but post-move, they’re expecting a significant improvement in results. If that’s not a plot twist, I don’t know what is! And let’s be clear—2024 and the medium-term goals are still all up and running, so there’s no reason to toss out your confetti just yet!
In Conclusion: A Move Worth Watching
As we soak in the implications of Cicor’s strategic concentration of thin film technology, it’s clear they’re embarking on a new chapter ripe with potential and a tinge of bittersweet nostalgia for those bidding goodbye to the Ulm location. With Wangs in the spotlight and new structures in place, just sit back and watch this space. And remember, in the world of business, even the most daunting changes can lead to fresh opportunities! Just ask the Ulm folks about their new travel plans. No bags required!
Cheers to evolution, innovation, and the occasional cheeky corporate shake-up! Now, who’s ready for some Swiss chocolate?
Cicor concentrates the thin film technology business area at the Wangs location
^
Cicor Technologies Ltd / Key word(s): Strategic
Corporate decision
Cicor concentrates the thin film technology business area
at the Wangs location
10/18/2024 / 07:00 CET/CEST
Publication of an ad hoc announcement in accordance with Art. 53 KR
The issuer/publisher is responsible for the content of the communication
responsible.
____________________________________________________________
Ad hoc announcement in accordance with Art. 53 KR
Bronschhofen, October 18, 2024 – The Cicor Group (SIX Swiss
Exchange: CICN) has decided to stop thin film production on
The Ulm, Germany location will be closed by the end of June 2025 and on
existing location in Wangs, Switzerland.
Reinhardt Microtech AG, founded in 1984 and based in Wangs
took over the thin film technology area in Ulm in 1998 and
Since then it has been known as Reinhardt Microtech GmbH. The company is
Part of the Cicor Group since 2007 and is organizationally part of the
Advanced Substrates Division an.
Cicor, the European leader in the business with
Hybrid circuits, strengthens its activities through the
Consolidation of production at the Wangs, Switzerland location. Through this
Cicor reduces complexity, increases flexibility and
strengthens risk management. Also for economic reasons
it no longer makes sense to continue production in Ulm.
The Cicor thin-film plants in Wangs and Ulm are technologically advanced
able to produce identical components. About the
long-standing customers in the German market continue to receive the usual service
To offer service, Reinhardt Microtech GmbH is called
Sales and competence center in the Ulm area will be continued.
The employment relationships of around 30 are affected by this decision
affected persons will be terminated on June 30, 2025. All
Employees will be given a change to the
Wang’s location or, in individual cases, an activity in the area
Sales offered in the Ulm region.
The restructuring will be the result of the Cicor Group at level
EBITDA in the current year with a six-digit CHF amount
burden and after completion of the relocation to a significant one
Improvement in the results of the business area and thus also the
Advanced Substrates Division. The guidance 2024 and the
Medium-term goals are not affected by this measure.
Contact
Cicor Management AG
Gebenloostrasse 15
CH-9552 Bronschhofen
Media & Investor Relations
Telephone +41 71 913 73 00
Email: [email protected]
The Cicor Group is a global provider of electronic
Complete solutions, from research and development to…
Production through to supply chain management. With around 3,300
Cicor serves employees at 19 locations
leading companies in the fields of medicine, industry and
Aerospace & Defense. By combining
customer-specific development solutions, high-tech components and
the manufacture of electronic devices, Cicor creates one
Added value for your customers. The shares of Cicor Technologies Ltd.
are traded on the SIX Swiss Exchange (CICN). For more
For information please visit the website www.cicor.com.
____________________________________________________________
End of ad hoc announcement
____________________________________________________________
Language: German
Company: Cicor Technologies Ltd
c/o Cicor Management AG, Gibloostraße 15
9552 Bronschhofen
Switzerland
Telephone: +41719137300
Fax: +41719137301
Email: [email protected]
Internet: www.cicor.com
ISIN: CH0008702190
Valor number: 870219
Exchanges: SIX Swiss Exchange
EQS News ID: 2010847
End of message EQS News Service
____________________________________________________________
2010847 18.10.2024 CET/CEST
°
