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Santex Restructures

June 10, 2008

The relocation is limited to manufacturing-related departments.

Santex Group has initiated a restructuring program aimed at relocating its production facilities closer to its end markets. The relocation is limited to manufacturing-related departments and will not impact customer service activities worldwide. The program, which is expected to help realign the company’s cost structures, will take several months to ensure proper transfer of know-how and smooth placement to new jobs for the dismissed personnel.

Santex’s facility in Malo, Italy has been redesignated as a technology and service center. Production is currently being shifted to other Santex group manufacturing sites, which are expected to be fully operational by December.