After thorough consideration, MAX Automation SE decides to close IWM Automation Bodensee

DGAP-News: MAX Automation SE / Key word(s): Strategic Company Decision

25.06.2019 / 18:32
The issuer is solely responsible for the content of this announcement.


After thorough consideration, MAX Automation SE decides to close IWM Automation Bodensee

Dusseldorf, June 25, 2019 - MAX Automation SE (ISIN DE000A2DA58), a company listed on Prime Standard of the Frankfurt Stock Exchange, is consistently implementing its disinvestment program to improve its profitability and risk profile. Having duly considered alternatives, including disposal, the Supervisory Board of MAX Automation SE has today decided the closure of the loss-making subsidiary IWM Automation Bodensee GmbH in Bermatingen, as of December 31, 2019. Customer projects still to be processed will be duly completed in an orderly manner. Without the prospect of successful restructuring, the burden from the continuing operations would exceed the costs of liquidation. In the fiscal year 2018, IWM Automation Bodensee GmbH as the portfolio company generating the highest loss, had already resulted the 2018 profit expectations of the MAX Automation Group having to be adjusted.

"Closing IWM Automation Bodensee GmbH is a measure with no alternatives. We are aware of our social responsibility toward the employees affected and greatly regret having to take this step. In view of the losses sustained by the company over the years and the high financing requirements, we sadly see no option for sustainably continuing the operations of the company. With this closure, we ultimately underline our decision to concentrate consistently on the MAX Automation Group's strong core business", explains Andreas Krause, Chairman of the Management Board and CFO of MAX Automation SE. The process of closing IWM Automation Bodensee GmbH at its location in Bermatingen affects around 100 jobs. A social package and establishing a transfer company are intended to mitigate the consequences of job losses. In addition to the resulting operating losses, the additional costs for the closure will be in the upper one-digit million range.

IWM Automation Bodensee GmbH is part of the disinvestment program decided in September 2018 that also encompasses IWM Automation GmbH and ELWEMA Automotive GmbH as well as the 51-percent share in MAX Automation Shanghai Co. Ltd., which no longer forming part of the core business. In years ahead, MAX Automation SE has plans to grow further and to develop in a successful and profitable manner. Since the start of 2019, the company has been focusing on the three core areas of business Process Technologies, Environmental Technologies and Evolving Technologies.



Katja Redweik
Head of Corporate Development/IR
MAX Automation SE
Tel.: +49 (0)211 - 9099 144

Contact for media representatives:
Susan Hoffmeister
CROSS ALLIANCE communication GmbH
Tel.: +49 (0)89 - 125 09 03 30

Marco Cabras
newskontor - Agentur für Kommunikation
Tel.: +49 (0)211 - 863 949 22

About MAX Automation SE
MAX Automation SE (WKN: A2DA58), based in Dusseldorf, is an internationally active industrial group for high-tech automation solutions. The operating business is divided into three divisions: in its Process Technology segment, the Group's comprehensive technological Expertise makes it an innovation leader in the development and manufacture of proprietary solutions (e.g. dosing, impregnation), particularly for the automotive and electronics industries. In its Environmental Technology segment, MAX Automation develops and installs technologically complex systems for the recycling, energy and raw materials industries. The Evolving Technologies division of MAX Automation develops high-quality assembly and system solutions for the medical technology and automotive industries as well as for robotics and augmented automation.

25.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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