Baldwin Implements Restructuring Plan; To Cut Workforce by 12 Percent
• Received a $1.1 million order from The Hokkaido Shimbun Press, a major Japanese daily newspaper with a circulation of approximately 1.2 million. This is the 5th major order in the last 6 months for equipment on newspaper presses in Japan.
• Further leveraged its global sales and marketing organization through additional strategic alliances by signing two private label supplier agreements with Nordson for UV dryers. Baldwin’s alliances now include agreements with Eltex (Germany), Falk (Germany), Nordson (UK), Prisco (U.S.), Robatech (Switzerland) and Thermal Care (U.S.).
“While the current market is very challenging, I am confident that our decisive steps to strengthen our market position and to control and reduce our costs will position us to remain financially sound and emerge as an even stronger company,” Puehringer concluded.
The company will provide additional details on these matters in its second fiscal quarter report on February 12, when Baldwin will also host a conference call with investors.
FY ’09 Q2 Earnings and Conference Call Scheduled for February 12, 2009
Baldwin will release earnings for its second fiscal quarter ended December 31, 2008 on Thursday, February 12 before the market opens. The company will host a conference call on the same day at 11:00 AM Eastern Standard Time (EST) to review the financial results and conduct a question-and-answer session.
To participate, call (877) 918-9236 any time after 10:55 AM EST. The number for local and international calls is (312) 470-7072. The passcode is “Baldwin Q2.” Interested parties may also listen to a webcast of the call on the company’s website, http://www.baldwintech.com.
A replay of the call will be available from one hour after the call through February 19 at 11:00 AM EST, at (800) 925-2972 or toll (203) 369-3520. The webcast will be available on the company’s website for 90 days after the call.