Heidelberg, Workers Reach Agreement on Cost-Cutting Measures

As planned, the company is thus implementing its package of cost-cutting measures, including saving of non-personnel cost. A key element of this package is to cut costs by an initial EUR 60 million in financial year 2010/2011 and a total of EUR 80 million in financial year 2011/2012. Together with the EUR 400 million of savings already achieved in financial year 2009/2010, this will result in total annual savings of EUR 480 million by financial year 2011/2012.