5.9.2003: Meldung: Ionics Inc.: Restructuring Program
Wednesday September 3, 10:45 am ET
WATERTOWN, Mass., Sept. 3 Ionics, Incorporated (NYSE: ION - News) today announced the initiation of a restructuring program, intended to improve financial performance through a realignment of its management structure, a reduction in personnel, and the consolidation of certain of its operations. The program will result in the elimination of approximately 200 positions, or 10% of the Company"s worldwide workforce. The Company believes that these actions, which it anticipates will be taken over the next six months, should result in an approximate annual savings of $15 million after they are fully implemented. The Company also anticipates improved margins resulting from the consolidation of its manufacturing and purchasing functions.The Company is planning to conduct a conference call prior to the end of the month to discuss in detail its restructuring actions, including the implementation timetable, costs, and anticipated savings.
Ionics is a global separations technology company involved in the manufacture and sale of membranes, equipment and own and operate services for the purification, disinfection, concentration, treatment and analysis of water, wastewater and ultrapure water. Over a period of more than 50 years Ionics has built more desalination plants than any company in the world.
For more information, contact:
Douglas R. Brown Theodore G. Papastavros
Chief Executive Officer Executive Vice President and Treasurer
Ionics, Incorporated Ionics, Incorporated
Tel: (617) 926-2510 ext. 204 Tel: (617) 926-2510 ext. 221
Source: Ionics, Incorporated