The Company decided to consolidate 3D printing to serve all customers in Europe from the German service center and restructure the voxeljet UK entity. The restructuring includes reduction in headcount and disposal of certain assets. The Company will also early-terminate the lease of the Milton Keynes facility during the fourth quarter of 2019.
|
|
|
|
|
Three and nine months ended September 30, 2019 |
Line items in statement of comprehensive loss / Components of restructuring charges |
|
(€ in thousands) |
|
|
|
Cost of sales |
|
284 |
Loss on disposal of assets |
|
212 |
Employee termination costs |
|
64 |
Impairment of Inventories |
|
8 |
|
|
|
Selling expenses |
|
35 |
Loss on disposal of assets |
|
19 |
Employee termination costs |
|
16 |
|
|
|
Administrative expenses |
|
212 |
Loss on disposal of assets |
|
78 |
Employee termination costs |
|
34 |
Lease maintenance costs |
|
68 |
Settlement of agreements |
|
17 |
Legal Consulting |
|
15 |
|
|
|
Impact of restructuring |
|
531 |
12. Commitments, contingent assets and liabilities
In March 2018, ExOne GmbH, a subsidiary of The ExOne Company, notified voxeljet of its intent not to pay its annual license fees under an existing intellectual property-related agreement and asserted its rights to claim damages pursuant to an alleged material breach of the agreement. At this time, the Company cannot reasonably estimate a contingency, if any, related to this matter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191114005610/en/
Contact:
Investors and Media
Johannes Pesch
Director Investor Relations and Business Development
johannes.pesch@voxeljet.de
Office: +49 821 7483172
Mobile: +49 176 45398316
