Siempelkamp announces restructuring programme to face difficult global market environment

25-08-2020
Siempelkamp,Restructuring,COVID-19

 

G. Siempelkamp GmbH & Co. KG has announced a restructuring program which will help to sustainably strengthen the company's competitiveness in a difficult global market environment. Due to the current pandemic and its effects on the world economy, the entrepreneurial challenges for the globally active group have increased once again. 

"We expect a lower order volume in the USA and Europe in the current fiscal year. In addition, our core markets have shifted towards the Asian market in the past and coming years," explained Dr Martin Stark, Chief Executive Officer at Siempelkamp. "Due to the current global development in the context of the Corona pandemic, we do not see a quick recovery," continued Dr Stark. 

The restructuring program focuses on organisational and process optimisation, as well as various sales and digitalisation offensives and a strengthening of the production network. In addition, it is planned to adjust the personnel structure at the Krefeld location of Siempelkamp Maschinen-und Anlagenbau GmbH and Siempelkamp Maschinenfabrik GmbH to market realities. Dr Stark informed the Works Council of both companies about the plans of the management. In this context, it is planned to cut approximately 260 jobs. The goal is to implement the job consolidation as socially acceptable as possible in the coming constructive dialogue with the Works Council. 

"The city of Krefeld and the location is and will remain the heart of Siempelkamp. We are working at full speed to sustainably strengthen the competitiveness of the Group and the companies at the Krefeld location," concluded Dr Stark. "Together with our managers and employees, we will make Siempelkamp fit for the future."


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