GERMANY – Siempelkamp 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, Siempelkamp’s CEO. “Due to the current global development in the context of the Coronavirus pandemic we do not see a quick recovery,” Dr. Stark continued.

The restructuring program focuses on organizational and process optimization, as well as various sales and digitalization 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. Martin 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.

Dr. Martin Stark: “The city of Krefeld and the location there, 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. Together with our managers and employees we will make Siempelkamp fit for the future.”