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Niederwangen, January 15, 2015, 7.00 a.m. – Adval Tech Group is adjusting capacities at Styner+Bienz FormTech AG in Uetendorf and Niederwangen (Switzerland).
A number of the products that the Uetendorf and Niederwangen sites manufacture for the automotive industry, the majority of which are exported to the EU, are reaching the end of their life cycle. In addition, the persistent strength of the Swiss franc against the euro is making it hard to acquire replacement orders. As a result of this situation, the Group is obliged to cut 17 jobs at Styner+Bienz FormTech AG. Management is endeavoring to alleviate the effects of the job losses by means of a redundancy scheme. Adval Tech Group employs around 1,700 people worldwide.
The aim of the measure is to sustainably reduce operating costs at the Styner+Bienz FormTech AG subsidiary.
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