Tuttlingen, Germany - Leading global supplier of machining centers, the CHIRON Group has initiated a comprehensive restructuring to secure its future. This includes the bundling of production and assembly in Tuttlingen and Neuhausen o. E., the concentration on service and sales of Stama products at the Schlierbach location and the sale of Scherer Feinbau GmbH, based in Alzenau.
The Group recorded a significant decline in demand in 2019, triggered by the upheaval in the Automotive industry and the weakening of the global economy. While it achieved sales of around EUR 500 million in 2018, sales in 2019 fell to EUR 443 million (-11%). In 2020, the situation was aggravated by the effects of the corona pandemic, so a further decline is expected.
“Our goal is to keep the Group capable of acting in the short term and to create competitive advantages in the medium term to secure as many jobs as possible. We have carefully examined all the alternatives and consider the initiated reorganization as necessary and future-proof,” says Dr. Armin Schmiedeberg, Chairman, the Supervisory Board.
Source : CHIRON Group