Siegfried outsources support functions

Cooperation with Bilfinger Berger Industrial Services AG and GWE GmbH

03-Aug-2010 - Switzerland

Siegfried Holding AG signed a cooperation agreement with two companies concerning the supply of support functions. In the future, Bilfinger Berger Industrial services Swiss AG will provide maintenance, part of the engineering and security services and run the Siegfried HAZMAT Training Center. All issues concerning utility supply and waste disposal will be handled by IHKW Industrieheizkraftwerk Zofingen AG, a subsidiary of GWE Gesellschaft für wirtschaftliche Energieversorgung mbH located in Freiburg, Germany.

The agreement with Bilfinger Berger commences on August 1, 2010 and that with IHKW on September 1, 2010. In total, 56 Siegfried members of staff will change employer. Siegfried negotiated with the new employers two years’ job security and protection of vested rights for a period of three years for its former employees.

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