COMET extends cost-cutting measures to Systems division

The COMET Group, worldwide leaders in the manufacture of components and systems for the growth markets of non-destructive testing, security and semiconductors, is adjusting the staffing levels in its Systems division (YXLON) in response to decreased demand within the automotive industry.

Like the semiconductor and solar sectors, the COMET Group is experiencing ongoing weakness in demand from the automotive sector and is now also planning sustained cost-cutting measures and adjustments of staffing levels in its Systems division (YXLON). This will include the shedding of 31 jobs, with 23 positions lost at the Hamburg and Garbsen sites in Germany. The remaining cuts will occur in Denmark, Asia and the USA.

Despite the deteriorating economic situation since the fourth quarter of 2008, the COMET Group is continuing to assume that it will be able to confirm the expected results for the year 2008 that were previously communicated. The balance-sheet press conference will take place in Zurich on April 2, 2009.