Tuesday, August 14, 2012

WashTec AG: WashTec earnings performance below prior year due ...

losses occurred in North America during the third quarter. The findings, 
which were made after a management change in connection with the 
preparation of the quarterly financial statements, are currently being 
analyzed and verified. In the meantime, the person formerly responsible for 
the 'DACH' region, the largest entity of the WashTec Group, has been 
appointed as COO in the USA. Furthermore the local finance department has 
been strengthened by an employee from the German headquarters. The 
Management Board will take appropriate action and evaluate the strategic 
options and will be actively monitoring the next course of action to take 
in North America.

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