Bietigheim-Bissingen, Germany: Dürr need to save, despite the light at the end of the tunnel

Despite the first signs of improvement in the machinery and plant engineer Dürr has to save, and strokes, among other things, some 600 Posts. The efficiency pro

Bietigheim-Bissingen, Germany: Dürr need to save, despite the light at the end of the tunnel

Despite the first signs of improvement in the machinery and plant engineer Dürr has to save, and strokes, among other things, some 600 Posts. The efficiency programme should contribute to the due to the Corona-crisis, weak business with the automotive industry in Europe and from next year, around 30 million euros, the company said on Wednesday. Due to a "slow brightening of the business climate," expected drought, a positive result before interest and taxes, the bottom line seems to be the new forecast at the end of the year, but a Minus.

"The business with the automotive industry in Europe has been affected by Corona at the most and will develop in the coming few years," said CEO Ralf Dieter. "The capacity adjustments are unavoidable, in Europe, from the loss zone to get out."

a normalization of the Automotive business While in Asia and America in sight, counting on the weakness of the management Board in the saturated European market with a longer demand, it said. Dürr manufactures, among other things, painting plants for the automotive industry. Worldwide, the company employs more than 16 000 employees.

The group had been previously introduced measures to reduce costs. Together with the newly announced program, he now expects, in the future, annual savings of a total of about 60 million euros.

For the first half of the year, Dürr has recorded a decline in order intake by 23 percent to 1.48 billion euros. In the meantime, was but a gradual revival of the demand, it said. Sales fell by 14 percent to 1.62 billion euros. Operating profit stands at 23.7 million euros, after nonrecurring items of EUR 6.6 million were left. After taxes, Dürr recorded a loss of Euro 3 million.

dpa
Updated Date: 29 July 2020, 15:26

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