Press Release: Schweiter Technologies: Realignment of SSM Textile Machinery

Schweiter Technologies / Schweiter Technologies: Realignment of SSM Textile Machinery . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Horgen, May 17, 2016 - SSM Textile Machinery concentrates the segment of texturing machines

At its site in Horgen, SSM will concentrate in future on the development, production and commercialization of high-tech winding and sewing-thread machines. As part of this focusing process, the texturing machines business will be transferred to the existing site in Galbiate (Italy).

The planned measures will result in approximately 20 redundancies in Switzerland. Part of the personnel reduction will take place by natural fluctuation and early retirements. The company is striving for a socially acceptable solution for all affected persons.

With this focusing, SSM Textile Machinery is increasing its sustainable competitiveness and securing the remaining jobs in Switzerland.

Schweiter Technologies AG, Neugasse 10, CH - 8810 Horgen, Switzerland

Telefon +41 44 718 33 03 Fax +41 44 718 34 51 info@schweiter.com

www.schweiter.com

Please find the Media release in the PDF attached:

Media release (PDF): http://hugin.info/100347/R/2013124/746027.pdf

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Schweiter Technologies via Globenewswire

HUG#2013124

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Schweiter Technologies

Neugasse 10 Horgen Switzerland

ISIN: CH0010754924;

http://www.schweiter.com (END) Dow Jones Newswires

   May 17, 2016 12:00 ET (16:00 GMT)- - 12 00 PM EDT 05-17-16