At today’s Annual General Meeting of Schweiter Technologies AG in Horgen, all proposals were approved by a large majority, including a capital reduction in the form of a nominal value repayment of CHF 6 per bearer share. Trading in the new shares with a nominal value of CHF 1 each is expected to commence on August 3, 2005.
Mixed performance
SSM Textile Machinery reported an unsatisfactory first quarter with weak revenues and profit. Demand from China and Turkey remained sluggish. Given the low volume of orders on hand, the first half of the current year will fall considerably short of H1 2004.
Satisloh reported a healthy order intake. Satis Vacuum maintained first quarter revenues and profit at the year-back level. Also to be factored in is the share of revenues generated by the LOH Group, acquired at the end of last year. LOH’s integration is proceeding according to plan. Mid-year the entire division is expected to see significantly higher revenues (effect of the LOH consolidation) and profit approximately in line with the year-earlier figure.
Ismeca Semiconductor continues to suffer in the face of a weak sector performance. With the volume of new orders still low, the division will also close the first half with a loss. Visibility remains restricted.
The book profit earned on the sale of Ismeca Automation will have a positive impact on the half-year result.