Ad hoc announcement pursuant to Art. 53 LR

Tornos announces measures to contain the impact of the appreciation of the Swiss franc

Tornos Group’s general management has agreed with the employee representation on increasing weekly working hours for the Swiss sites in order to strengthen competitiveness.

Weekly working hours at Swiss sites will thus be increased to up to 43 hours as from March 1, 2015. This measure will be reviewed mid-June with the employee representation in anticipation of a possible extension. The agreement is based on the application of a provision of the collective employment agreement.

“This measure will strengthen our productivity and competitiveness. Thus the negative impact from the discontinuation of sustaining a minimum exchange rate will be contained" says Michael Hauser, CEO of Tornos Group.