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KROMI Logistik AG: Arrangements for departure of Chairmen of the Managing Board

Hamburg, 4 December 2017 – KROMI Logistik AG (ISIN: DE000A0KFUJ5), supplier of integrated tool logistics solutions for manufacturing companies, informs that following the amicable resignation of Jörg Schubert, Chairman of the Managing Board, from office on 31 December 2017, the Supervisory Board and Mr. Schubert have held talks on the termination of his employment contract, which is still running until the end of 2019. They have come to the conclusion that the contract is continued to be paid in installments until the maturity date. In accordance with HGB and IFRS, the company will form a corresponding provision at the end of the second quarter of the current financial year. However, it saves corresponding expenses of the same amount in the two subsequent years so that the formation of provisions over the entire period under review up to the end of 2019 is without any significant negative impact on the company’s operative earnings. There are no special effects on liquidity.

Company profile:
KROMI Logistik AG offers companies in the manufacturing sector at home and abroad end-to-end outsourcing to supply them with precision machining tools (“tool management”). The focus is on technically sophisticated machining tools (wearing tools and tool holders, e.g. drills) for processing metal and plastic. KROMI Logistik combines the traditional tool trade with local supply through fully automated tool dispensing in customers’ manufacturing areas, and an IT-based tool management and controlling system. The aim of KROMI Logistik’s business activities is to optimize the supply of operating materials to its customers, particularly tools, on a lasting basis, and to ensure that the right equipment is available in the right place at the right time. The company currently has a presence in four locations in Germany and four abroad (Slovakia, the Czech Republic, Spain and Brazil), as well as operating in six other European countries. KROMI Logistik has so far focused primarily on customers in the sectors of general mechanical engineering, automotive suppliers, aerospace and marine engine construction.

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Claudius Krause
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