Dominique Köhler
Corporate Communications
+49 5231 14-2639
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Detmold. May 14, 2009 | The Weidmüller Group positions itself to secure the future of the company. Against the background of a difficult economic situation and the continuing weakness of important markets Weidmüller will clearly increase the advancement of the Corporate Strategy 2020 started in 2007 and adapt its structures to the new market situation at the same time.
The profoundly changed national and international market environment – Weidmüller expects throughout the group a decline in sales between 20 and 25 percent in 2009 compared to last year – makes structural and personnel changes inevitable. Worldwide approximately 15 percent of the 3,850 jobs are affected by this. The package of measures introduced by the Executive Board includes personnel adjustments as well as significantly reduced costs of material. Thus, Weidmüller is securing the necessary scope of action to lead the company through the currently difficult market situation worldwide.
"We combine the measures required on a short-term basis to secure profit with a faster advancement and stronger focus on the long-term Corporate Strategy 2020. The objective is to noticeably increase the medium and long-term capability and consequently the competitiveness of the company", explains Dr. Joachim Belz, CEO of the Weidmüller Group.
The Weidmüller competences within the field of development and technology regained in 2007 had a considerable influence on the positive result of the fiscal year 2008 and will be further increased. All planned investments concerning research and development as well as investments in new products will stay on a high level. Furthermore the company will strengthen its local development and production throughout the world to meet the demands of the regional markets in the best possible way. Additionally new markets will be developed.
The current development of the main markets forces the company particularly in this situation to a foresighted company planning which includes significant increases in efficiency and personnel adjustments.
"Since the beginning of the worldwide financial crisis Weidmüller aimed to avoid any job cuttings with numerous measures, recently also including reduced working hours. Weidmüller started to closely collaborate with the works council and the federal employment office to find arrangements that are socially acceptable for all affected staff members. Weidmüller always assumed its social responsibility – and will continue to do so in the future", emphasises Harald Vogelsang, CFO of the Weidmüller Group.
