KHD plans headcount reduction

Cologne, Germany, March 12, 2019 – Today the Executive Board of Humboldt Wedag GmbH (HWG), Cologne, a major subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne, informed KHD’s Management Board and the Works Council of HWG about a planned major reorganization. HWG's Executive Board expects that the business environment in cement plant construction industry will remain difficult in the near future and that existing personnel capacities cannot be sufficiently utilized. HWG must therefore adapt its structures to the current business volume in order to return to profitability in the medium term. HWG's management plans to cut approximately 80 jobs. The measures required to implement the reorganization will be discussed with the works council in the coming weeks.

Additional Information:
ISIN: DE0006578008
Securities identification number (WKN): 657800
Market segment: Regulated Market (General Standard) of the Frankfurt Stock Exchange
KHD Humboldt Wedag International AG
Colonia-Allee 3
51067 Cologne, Germany

Contact:
KHD Humboldt Wedag International AG
Jürgen Luckas
Chief Financial Officer
Tel.: +49 (0)221 – 6504-1107
E-Mail: juergen.luckas@khd.com
Website: www.khd.com

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