Bolza-Schünemann Resigns from KBA; Company Reports Press Sales Decline

At the end of December there were 7,838 employees on the group payroll, 398 fewer than in 2007 (8,236). Further reductions will be necessary at KBA’s sheetfed production plants, bringing the total down to nearer 7,000 by the end of the current year.

Given the present recessionary tendencies in the global economy and the engineering industry, the world’s third-biggest press manufacturer anticipates a further drop of 20% in sales. However, barring a renewed slump in demand the scheduled restructuring, consolidation and cost-cutting initiatives should enable KBA to post a balanced result for 2009. A more detailed projection will be issued when the 2008 financial statements are disclosed on 30 April.