Company Meeting - Trade Unions of August 5, 2010
Yesterday, the company has finally withdrawn its reservations, and has presented a summary of the plan of restructuring that has recently received approval from the Board. In a presentation in four main points (Overview, Performance, Piano, staff costs) were analyzed some of the problems that led to the financial crisis and the containment measures and restructuring already taken or yet to be implemented for fiscal consolidation company by 2014.
The plan is reflected with respect to the views already expressed by the Mexican subsidiary and home to Treviso and the intention to contain strongly development costs for years to come. In particular, see the Medtech their investments limited exclusively to the efforts currently under way and nearing completion (eg ASA) and the Pharma development spending will be gradually reduced until it was more than halved in 2014 compared to 2008 levels. The projects to be supported will have as its objective the strengthening of the products currently on the list with development operations / regulatory update. Pharma development projects more ambitious (eg, retinal neuroprotection, nanoparticles), designed in the past and still advocated by many, will see the birth only in respect of loans that do not significantly erode the company's coffers and that can be activated by any partnership or other forms of aggregation of interests, also at the consortium.
The company has announced major investments for 2011 will be directed to the Pharma that recovery of market share. During the period covered by the plan, the company expects to regain its punch commercial on Italian soil to bring it back to 2008 levels. In addition, the plan is contemplated the possibility of expanding the sales territories of Pharma also including UK and Greece.
The note concerns the most painful of the plan's need to reduce personnel costs. Given the already established savings of around € 3.2 million, it remains to fill a gap of € 3.5 million to be achieved from January 2011. The areas in which to pursue these savings are those of the M & S (marketing and sales), R & D (research and development) and G & A (ex-corporate). Compared to this point, the company and unions have pledged to seek shared solutions that can reduce the suffering of workers SIFI. In this regard, trade unions stressed the need to work in the coming months because the dispute SIFI are completed in accordance with the balance of workers and occupational zero. On this basis and for the purposes mentioned, the work will be reopened with a meeting between the two sides set for September 20.
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