Changes in the Group’s logistics structure

May 26, 2010, 14:46

26 May 2010

 

 

 

Changes in the Group’s logistics structure

 

In order to optimize the Group’s logistics structure, Management anticipates implementing the following restructuring measures:

 

  • Opening of a new, modern warehouse in Brøndby, Denmark totalling 12,500 square metres for management of functions which at present are handled through the warehouse at Raffinaderivej, Denmark, and the warehouse in Venlo, the Netherlands. The new warehouse is scheduled to be opened in October 2010.
  • Closure of the warehouse in Venlo by end of 2010.

 

Non-recurring costs amounting to DKK 6 million are expected to be recognized for the financial year under review in respect of the restructuring measures. This is included in the specified guidance for 2009/10 as announced in the Q3 Interim Report. As of 1 January 2011 these restructuring measures are expected to generate annualized savings of DKK 15-20 million.

 

 

 

IC Companys A/S

 

Niels Mikkelsen

Chief Executive Officer

 

 

Please direct any questions regarding this announcement to:                               

 

 

Thomas Rohold

Investor Relations Manager

+45 3266 7093

 

 

 

This announcement is a translation from the Danish language. In the event of any discrepancy between the Danish and English versions, the Danish version shall prevail.