The chairman of Austrian-based Radex Heraklith, Walter Ressler, announced in November 1995 that rationalisation would be carried out at the new subsidiary Didier in order to improve results. The first…
The chairman of Austrian-based Radex Heraklith, Walter Ressler, announced in November 1995 that rationalisation would be carried out at the new subsidiary Didier in order to improve results. The first measure will be to close the plant in Krefeld, Germany, with a workforce of about 200. Production at the plant will be moved to other sites in Germany and the UK. Ressler said the aim was a profit ratio of 5% for the whole of the group by 1998, compared with the current ratio of 2.5%. The consolidation of Didier is expected to lead to 1995 turnover of about Sch 22 billion for the group. The extraordinary general meeting was to be held at beginning of December 1995 in order to decide whether shares in Veitsch-Radex and Heraklith should be delisted. Shareholders will receive a conversion offer for shares in the Radex Heraklith holding company.