Negotiations on reconciliation of interests finalised

Warstein, 08/03/2016 A change in strategy has given the SIEPMANN-WERKE GmbH & Co. KG Management Board a positive outlook for the future. The negotiations which have been underway between the Works Council and Management Board of SIEPMANN-WERKE since the start of January have now come to an end. The Fittings department is set to expand its portfolio, while in Forging there will be more of a focus on the areas in which the company's strengths lie in future. However, none of this will be possible without cutting back on costs – and that includes money spent on staffing.

SIEPMANN-WERKE: a change in strategy and reduction in costs

forging-and-beyondThe Management Board has been in discussions with the employee representatives to come up with the best solution for all concerned. The 50 employees who will be affected by the staffing changes will be offered the chance to transfer to an interim company for 12 months under a social contract."Although not ideal, it has become necessary for us to take this step so that we are able to focus on our core areas within the two departments," says Managing Director Korinna Schwittay.

The SIEPMANN-WERKE GmbH & Co. KG Management Board is expecting a positive outcome from the new certification within the Fittings department amongst other things, as this should open up new markets. Speaking on behalf of the Management Board, Korinna Schwittay expresses the optimism surrounding this development: "The majority of our domestic and global customers are from the mechanical engineering, commercial vehicle manufacturing and power plant construction sectors, representing a market that continues to get weaker. However, our latest certification as an 'ASME Stamp Holder' will allow us to add to our fittings portfolio as we expand into the field of US standards. This move will open up a huge new market for us that we aim to serve going forward having made improvements to our performance. In the Forging department, we will be focussing more closely on our core areas as well as raising our profile as a development partner for our customers." Improvements will be achieved by making internal organisational changes at the company. Over the next few weeks, SIEPMANN-WERKE will be working to make the organisation more agile so it will be able to respond to changing market conditions and customer requirements more efficiently. "We are setting our sights on improving efficiency and transparency with a view to identifying potential for optimisation earlier so we are in a better position to tap into it. This should also help us build up trust both internally and externally," says Schwittay.

"The changes we are going to see over the coming months will no doubt prove to be nothing short of challenging." In spite of this, the company spokesperson is also certain that "This will only make us stronger. Our incredible commitment will get us through this period of change and ensure that we are in a better position at the end of it."

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