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FLSmidth Company Announcements

FLSmidth to announce reduction in workforce

19.01.2009
Company Announcement to the Danish Financial Supervisory Authority No. 1-2009, 19 January 2009

The global economic downturn results in a continuing declining level of investments in both the cement and minerals industries. Despite a historically high order backlog FLSmidth therefore considers it necessary to proactively reduce its workforce in order to create the necessary flexibility and be better prepared for future uncertainties in our markets.
The reduction in workforce is expected to primarily affect FLSmidth's three project centres in Valby, Denmark; Bethlehem, US; and, to a very limited extent, Chennai, India.
 
The aim is to reduce the number of jobs globally by approximately 600, representing about 6% of the workforce.
Statutory national negotiations will be initiated with the relevant labour market organisations.
 
FLSmidth expects that the downsizing of its employee base successively together with other measures will reduce the Group's cost base with a limited positive effect on the earnings for 2009 and have full impact in 2010.
 
 
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Please address any questions regarding this announcement to Group Chief Executive Officer Jørgen Huno Rasmussen, FLSmidth & Co. A/S at +45 36 18 18 00.
 
For further information about FLSmidth, please visit www.flsmidth.com.
 
 
Yours faithfully

Pernille Friis Andersen
Corporate Communications & Investor Relations