VIENNA—With guidance from a new management team, Semperit Group took the first steps in a transition phase intended to restore the profitability of key business segments.
"We will not leave any stone untouched in the organization," new Semperit Group CEO Martin Fuellenbach said. "To establish profitable growth in our corporate DNA, we will need to review core technology and processes."
The comments accompanied Semperit's first-half results statement, which reported "productivity gains" at Sempermed—a major international supplier of medical and industrial gloves and the group's largest business segment—through reducing costs in production, marketing and sales. The measures included a 14 percent reduction in employee numbers.
The six months also saw impairment costs of $30.6 million at Sempermed, restructuring expenses at Sempertrans in France of $8 million and $4.7 million valuation adjustments of capitalized IT costs at the group's corporate center segment.