Boeh Mannheim Posts Losses for 1993

Boehringer Mannheim of Germany has reported a loss of 13.5 million Deutschemarks ($8.81 million) for 1993 linked to high social payments in the wake of a reduction in the workforce. Consolidated sales of Boehringer Mannheim in Germany stagnated at 2.2 billion marks. Sales fell 6% in Germany and 4% in Europe but expanded outside the region.

The restructuring program in 1993 led to a cut of 350 people to 9,618. The redundancy and early-pension arrangements cost Boehringer the unusually high sum of 221 million marks, pushing total operational spending up from 572 to 773 million marks.

Operating results changed from a profit of 32 million marks in 1992 to a loss of 66 million marks last year.