Inwido plans additional structural measures in the industry segment in Denmark

Regulatory News:

Inwido (STO:INWI), Europe's largest supplier of windows and doors, announces the start of negotiations on structural measures that could entail the closure of the production facility in Holstebro, Denmark. These measures are a result of the ongoing efforts to review overall efficiency in Inwido and to prioritize more profitable business segments. These initiatives fit within the framework of the restructuring costs and savings announced by Inwido on 20 October 2015.

Negotiations on the possible closure of the production facility in Holstebro, which would allow production to be concentrated to the facilities in Farsö and Nyköbing, Mors, will start immediately. The reason for the measures is continuously increasing competition in the industry segment in Denmark, where it is difficult to achieve profitability in operations.

"The production unit in Holstebro is a specialist operation in the niche market of custom-produced façade solutions. Unfortunately, profitability within this segment has been declining for some time and the willingness to pay what it costs to produce the projects that have been initiated is low,” says Inwido’s President and CEO, Håkan Jeppsson.

The operations started in 1993 and became part of the Inwido Group in 2011. In total, the facility employs about 100 people.

"We have tried to make the Holstebro production unit competitive but without success. This leaves us with no other choice than to act,” Håkan Jeppsson concludes.

About Inwido

Inwido is Europe’s largest supplier of windows and doors. The company has operations in Denmark, Finland, Norway, Sweden, Austria, Estionia, Ireland, Lithuania, Poland and the UK, as well as exports to a large number of other countries. The Group markets some 20 strong local brands including Elitfönster, SnickarPer, Hajom, Hemmafönster, Outline, Tiivi, Pihla, Diplomat and Sokolka. Inwido has approximately 3,300 employees and generated sales of slightly more than SEK 4.9 billion in 2014. The Group's headquarters are located in Malmö, Sweden. For further information, please visit www.inwido.com

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