Siempelkamp Restructures
G. Siempelkamp GmbH & Co. KG announced a restructuring program intended to help strengthen the company’s competitiveness in a difficult global market environment caused by the challenges that have arisen from the current pandemic and its effects on the world economy.
“We expect a lower order volume in the U.S. and Europe in the current fiscal year. In addition, our core markets have shifted towards the Asian market in the past and coming years,” explains Dr. Martin Stark, Siempelkamp CEO. “Due to the current global development in the context of the Corona pandemic we do not see a quick recovery.”
The restructuring program focuses on organizational and process optimization as well as sales and digitalization efforts and a strengthening of the production network. In addition, there will be some changes to the personnel structure at Siempelkamp’s Krefeld, Germany location, including cutting approximately 260 jobs. Siempelkamp’s goal is to implement the job consolidation as socially acceptable as possible while working through constructive dialogue with the Works Council.
RELATED ARTICLES
STARWOOD ORDERS THIN-BOARD PLANT
XIANGSHENG ORDERS PARTICLEBOARD LINE
CALPLANT I NEARS THE FINISH (OR STARTING) LINE
DONGWHA ADDRESSES CHALLENGING FIBER
Latest News
Roy Martin III Paints Refreshing, Positive Picture
On March 20, 2020, RoyOMartin Chairman, CEO and CFO Roy O. Martin III provided a state-of-the-business message on the company’s COVID-19 response and company operations moving forward to employees and stakeholders. Martin hammered home the…
If Virus Stagnates, Look For Rebound
Following a three-month skid, housing starts should gradually ramp up beginning this summer, and reach where they were pre-virus later in this year and early next year, according to comments and data from officials at…
Wood Industry Trade Magazines Still On Schedule
Hatton-Brown Publishers, Inc. released a statement regarding its operations during the coronavirus crisis as follows: “As we all deal with personal, family and employee health concerns brought on by the coronavirus crisis, we realize it…
Find Us On Social
Newsletter
The monthly Panel World Industry Newsletter reaches over 3,000 who represent primary panel production operations.
Subscribe/Renew
Panel World is delivered six times per year to North American and international professionals, who represent primary panel production operations. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative. Contact us today!