Georg Fischer restructures to improve EBIT by 2005

Newswire

ZURICH, Oct 7 (Reuters) - Swiss engineering firm Georg Fischer said on Tuesday it would restructure its business to lift operating profit by 100 million Swiss francs ($75 million) in 2005 and reduce net debt.

Fischer will streamline its automotive products and piping operations as well as manufacturing technology unit Agie Charmilles . It aims to cut net debt by some 300 million francs by the end of 2005.

The financial result of 2003 will be hurt by non-recurring charges ...

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