Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Draka Holding NV (AMS:DRAK) In line with Draka's Stop, Swap and Share programme (Triple S programme) the Board of Management of Draka Holding N.V. announces that it intends to stop production of copper wire in its Llanelli (UK) copper wire factory and consolidate production in other factories, within Europe, where wire drawing is already part of the integrated manufacturing process.
The Llanelli factory, which is dedicated for the production of copper wire, is part of the division Energy & Infrastructure Europe and employs approximately 135 people. The third party sales served by the Llanelli facility will be absorbed by Draka's Derby site (UK).
The closure of Llanelli has been discussed with the European Works Council and separately with the National Works Council in the UK.
Board of Management Amsterdam, 14 August 2008
Pdf version of the press release
Pdf versie van het persbericht
NOTE FOR EDITORS: for more information, contact:
Draka Holding N.V.: Michael Bosman - Director Investor Relations +31 20 568 9805
2008 financial calendar (provisional) Monday, 1 September 2008 Publication of 2008 half-year figures (before start of trading) Publication of trading update for second Thursday, 13 November 2008 half of 2008 (before start of trading)
Company profile Draka Holding N.V. ('Draka') is the holding company of a number of operating companies which engage worldwide in the development, production and sale of cable and cable systems. As from 2008, Draka's activities are divided into three Groups: Energy & Infrastructure, Industry & Specialty and Communications.
Within these three Groups, the activities have been split up into divisions. Energy & Infrastructure consists of the divisions Europe, Australasia and Greater China; Industry & Specialty consists of the Automotive & Aviation, Elevator Products, Cableteq USA, Industrial divisions and Wire & Cable Assemblies, while the Communications Group is divided in the divisions Cable Solutions Americas, Cable Solutions EMEA, Optical Fiber and Mobile Network Cable.
Draka has 68 operating companies in 30 countries throughout Europe, North and South America, Asia and Australia. The Company has a flat, decentralised organisational structure with short lines of communication. The divisions enjoy a large measure of autonomy and are responsible for their revenue and profits. Worldwide the Draka companies have some 9,550 employees. The head office of Draka Holding N.V. is established in Amsterdam. In 2007, Draka generated revenue of € 2.8 billion and a result attributable to shareholders of € 93.0 million.
Draka Holding N.V. ordinary shares and subordinated convertible bonds are listed on Euronext Amsterdam. The Company was included in the Next150 index in 2001 and the AMX-index (Amsterdam Midkap index) since 4 March 2008. Options on Draka shares have also been traded on the Euronext Amsterdam Derivative Markets since 8 July 2002.
