Horgen, May 12, 2011 – At the General Meeting of Schweiter Technologies AG held today in Horgen, shareholders approved by a large majority all proposals put forward by the Board of Directors.
Notably, payment of CHF 10 per share from reserves from capital contributions was approved. The members of the Board of Directors Beat Siegrist, Beat Frey, Heinrich Fischer and Rolf-D. Schoemezler were re-elected for a term of office of one year. Lukas Braunschweiler and Jacques Sanche were elected as new members of the Board of Directors for a one-year term of office.
At the constitutive meeting directly after the General Meeting, the Board of Directors elected Beat Siegrist as Chairman of the Board of Directors.
Revenues for the current business year are in line with the expectations communicated earlier. The result is impacted by higher raw material prices and negative currency effects. The ongoing restructuring projects at 3A Composites are pressuring profitability in the first half of the year, but will have a positive effect in the second half.
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