Horgen, January 27, 2009 – As a consequence of the worsening economic environment, short-time working is to be introduced at the Horgen and La Chaux-de-Fonds sites of the SSM Textile Machinery and Ismeca Semiconductor divisions as of March 2009. This will affect around 150 employees at different departments. The textile machinery and semiconductor sectors have been facing an exceptionally strong decline in sales for some time now. The downsizing of temporary staff as well as a reduction of overtime and holiday owed are no longer sufficient to offset this falloff in demand.

As communicated earlier, both areas will close the 2008 financial year with a virtually balanced operating result.