Copenhagen,
23
September
2008

VELUX Considers Closing A/S Gelsted Bygningsindustri

Summary

VELUX today reported that it is considering closing A/S Gelsted Bygningsindustri and transferring parts of production to other VELUX factories in the course of 2009.

Such a step would directly affect the 230 or so employees at the Funen factory.

- "We have recently seen a fall in demand for important parts of our product range that are made at A/S Gelsted Bygningsindustri. VELUX management therefore feel it necessary to consider closing the factory to ensure competitiveness."

- "VELUX is performing well under present circumstances and is making progress on many markets. But the current situation of financial stagnation has also hit the building industry," says VELUX Group Director David P. Meyer.

The works committee at A/S Gelsted Bygningsindustri has been informed of the considered closing and a negotiations committee has been set up to discuss what is to be done. It is expected to report its findings within the next three weeks.

- "It is a very regrettable situation. A/S Gelsted Bygningsindustri has been an important part of our business for many years. We will do our utmost to help those affected. Among other things, we hope to be able to offer jobs at other VELUX factories in Denmark if that turns out to be relevant."

- "We are not yet in a position to say how many people would be directly affected. We must wait and see how the discussions and negotiations now taking place progress," says David Meyer.

About VELUX
VELUX creates better living environments with daylight and fresh air through the roof. Our product programme contains a wide range of roof windows and skylights, along with solutions for flat roofs. In addition, VELUX offers many types of decoration and sun screening, roller shutters, installation products, products for remote control and thermal solar panels for installation in roofs. VELUX, which has manufacturing companies in 10 countries and sales companies in just under 40 countries, is one of the strongest brands in the global building materials sector and its products are sold in most parts of the world. The VELUX Group has more than 10,000 employees and is owned by VKR Holding A/S. VKR Holding A/S is a limited company wholly owned by foundations and family.
For more details, www.velux.com

Contact
Jens Bekke
Director Global Media Relations, The VELUX Group
+45 21 55 07 89
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