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Printing Presses and Machinery (New and Used, Service and Repair)
News Release from: Heidelberg
Edited by the Printingtalk Editorial
Team on 04 February 2004
1,000 Jobs and Two Directors To Go At
Heidelberg
Up to 1,000 jobs lost worldwide and two senior members of Heidleberg's management board are to be lost under an organisation re-shuffle.
Up to 1,000 jobs worldwide and two senior members of Heidleberg's management board are to be lost by the company under an organisation re-shuffle The company's supervisory board has agreed to a management board proposal to streamline its organisation and divest its activities in research, development and production of web offset presses
This article was originally published on Printingtalk on 6 Jun 2003 at 8.00am (UK)
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The divisional structure will be re-organised leading to a reduction of the workforce by up to 1,000 employees worldwide.
Heidelberg said these moves will allow it to concentrate its resources on sheetfed offset printing and all its related value chain, including prepress, press, postpress and workflow management.
A result of these developments will be that Wolfgang Pfizenmaier (56) and Holger Reichardt (49) will resign from the management board by mutual agreement with the supervisory board.
Dr Klaus Spiegel will assume responsibility for the entire product portfolio and marketing, and Dr Herbert Meyer will remain chief financial officer.
Heidelberg's management is in negotiations with potential partners for its web systems business, which includes close cooperation for the installed base and future customer care.
Heidelberg must also adapt the capacities and activities of its digital division.
The post press division will become a separate entity, focusing entirely on the requirements of the postpress equipment market.
Heidelberg's worldwide sales and service network will continue.
"Our target markets will mainly be commercial printers as well as packaging and label printing", said Bernhard Schreier, chief executive officer of Heidelberg.
Schreier will now also be responsible for the worldwide sales and services network, as well as for R and D and operations.
Sales and operating profit targets for the financial year are to remain unchanged.
Additional one-off costs of up to 400 million Euro have been assigned for restructuring and book losses, particularly for the planned divestment of web systems and the repositioning of the digital and post press divisions.
"Overall, the new focus will significantly improve our profitability and cash flow in the short and medium term, and thus enable us to achieve the financial targets we have set for the company," said Herbert Meyer.
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