The Müller Martini group announced that it is looking to initiate restructuring measures in the upcoming months to adjust to what it calls the shrunken global graphics industry. Up to 550 jobs worldwide could be affected by the restructuring.
“In order to survive in strong shape, we cannot avoid the need to operate on a smaller scale,” says CEO Bruno Müller, adding, “However, by concentrating our forces, we will do our utmost to continue to intensify the comprehensive advice we provide to our customers on new investments and in particular in the service area. Our sales and service network regionalization program, which was initiated last year, gives us a good starting point in this context.”
According to Müller Martini, revenues have “fallen massively over the last four years” despite the company maintaining a market lead. The company also attributes the decline to customers, both existing and potential, holding back on capital investment or prevented from investing due to the lack of credit.
The restructuring is to involve looking at consolidating the company’s two main sites at Zofingen and Felben, both in Switzerland, which are currently not operating at sufficient capacity.