Annual General Meeting of Schweiter Technologies

Information 1st quarter 2004
Press release 05-19-2004

All the items on the agenda of today’s Annual General Meeting of Schweiter Technologies AG in Horgen were approved by a large majority, including in particular a capital reduction by means of a nominal value repayment of CHF 3 per bearer share, and a renewal of the authorized capital until 2006.

Strong business performance

SSM Textile Machinery has reported a good first quarter, with sales and earnings up on the previous year. The second quarter will be slightly weaker owing to a temporary dip in new orders, but the outlook for the year as a whole remains positive.

The Satis Vacuum division is recording a strong order intake. First quarter sales and earnings were at the year-back level, and mid-year results are also expected to be on a par with last year.

Ismeca Automation has confirmed the turnaround achieved during the second half of last year and has reported a moderately positive result for the first quarter of 2004. This trend is expected to continue for the remainder of the year.

At Ismeca Semiconductor the recovery which began at the end of last year has continued, with the first quarter seeing a twofold increase in new orders compared with the previous year. Thanks to the continuing solid order intake, the outlook for the year as a whole is positive.