Dierikon, 16 November 2020

Media release

Consultation process in Switzerland completed

Today, Komax employees have been informed of the outcome of the consultation process carried out at the two sites in Switzerland. There will be 70 redundancies, over 40% of which will be covered by natural fluctuation and some early retirements. Komax has a social plan in place and will support all staff affected in seeking new em- ployment.

On 22 October 2020, Komax announced plans to reduce its current headcount (660 employ- ees) by approximately 10% at its two sites in Switzerland (Dierikon and Rotkreuz). A consultation process took place from 23 October to 5 November 2020. After careful consideration of all the ideas and proposals submitted, employees have today been informed that redundancies are unavoidable. Some of these redundancies - 31 of the total number of 70 - will take place via natural fluctuation and some early retirements. Redundancy notices will be issued by the end of November 2020 at the latest.

Komax has an extensive social plan and is working closely with an external company to ensure that the employees affected receive support in their professional reorientation.

Contact Roger Müller

Vice President Investor Relations / Corporate Communications Phone +41 41 455 06 16 roger.mueller@komaxgroup.com

Komax is a globally active technology company that focuses on markets in the automation sector. As a leading manufacturer of innovative and high-quality solutions for the wire processing industry, the Komax Group helps its customers implement economical and safe manufacturing processes, especially in the automotive supply sector. The Komax Group employs more than 2000 people worldwide and provides sales and service support via subsidiaries and independent agents in more than 60 countries.

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Topics and insights from the world of automated wire processing: https://newsportal.komaxgroup.com/en

Komax Holding AG, Industriestrasse 6, 6036 Dierikon, Switzerland

Phone +41 41 455 04 55, komaxgroup.com

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Komax Holding AG published this content on 16 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2020 17:20:05 UTC