BERU streamlines its organization and accelerates cost-cutting activities.Program approved for enhanced efficiency; Executive Board reduced from 4 to 3 members; A more streamlined organizational structure  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. ; Savings of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 million targeted LUDWIGSBURG Ludwigsburg (l  t`vĭkhsb rkh'), city (1994 pop. 86,220), Baden-Württemberg, SW Germany, near the Neckar River. , Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). -- The Executive Board of BERU AG today
approved a program designed to enhance efficiency and improve
competitiveness. Increasing pressure on prices, especially in the Diesel
Cold-Start Technology division, and rising material and personnel
expenses had recently led to a significant decline in earnings. In
combination with this year's weak revenue growth and the low growth
rates Growth RatesThe compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. also expected in 2008, appropriate cost-cutting measures have now been decided upon. These measures include the streamlining of the organizational structure and the optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. of worldwide production capacities in order to make internal processes faster and more efficient and to place more priority on close contacts with customers. Dr. Rainer Podeswa, hitherto the member of BERU's Executive Board responsible for sales and research and development, has left the company by mutual agreement. His former responsibilities will be reallocated. Furthermore, throughout the BERU Group, approximately 160 jobs are scheduled to be eliminated, approximately half of them at the four German sites. The job reductions are to be carried out as far as possible in a socially acceptable manner; a charge of approximately EUR 3 million has therefore been budgeted for severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when settlements. In 2008, BERU anticipates additional savings of approximately EUR 2.2 million, while savings of nearly EUR 5 million per annum Per annum Yearly. are to be realized in the medium term. In connection with the revenue growth anticipated as of 2009 due to the launch of new products, the Executive Board assumes that the measures now initiated will stop the negative development of profit margins and have a sustained positive effect on competitiveness so that jobs can be secured in the long term. The Executive Board 13.12.2007
Language: English
Issuer: BERU AG
Morikestr. 155
71636 Ludwigsburg
Deutschland
Phone: +49 (0)7141 132-948
Fax: +49 (0)7141 132-586
E-mail: investor-relations@beru.de
Internet: www.beru.de
ISIN: DE0005072102
WKN: 507210
Listed: Regulierter Markt in Frankfurt (General Standard),
Stuttgart; Freiverkehr in Berlin, Munchen, Hamburg,
Dusseldorf
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