Ad hoc announcement pursuant to Art. 53 LR

Tornos wins the 2018 Swiss WCM Award

At the Swiss WCM (Working Capital Management) Summit this week, Bruno Edelmann, CFO of the Tornos Group, accepted the prize for “Performance Excellence”. Organized by Swiss Post’s Supply Chain Finance-Lab at the University of St Gallen, this prize is awarded each year to a company with a particularly successful WCM concept and outstanding overall performance in the management of its net working capital. As well as the excellent result, when presenting the award to Tornos, the top-class jury specifically highlighted the project team’s dedication and the systematic implementation of the ambitious program. Compared with 2016, Tornos reduced its net working capital by more than 30% in 2017, while increasing sales by over 30%.