EQS-News: Manz AG
/ Key word(s): Personnel/Miscellaneous
Manz AG launches comprehensive efficiency program and reorganizes Managing Board
Reutlingen, July 11, 2024 – The Managing Board of Manz AG, a globally active high-tech mechanical engineering company with a comprehensive technology portfolio, today adopted a multi-stage efficiency program of measures. In the first stage, the two divisions will be merged at the Reutlingen site and the organization will be further optimized. In this way, the performance, effectiveness and speed of implementation of customer projects are to be improved. In a second step, capacities will be adapted to the expected incoming orders and market developments by introducing short-time work. As announced, Manz is thus reacting to the current challenges in the direct market environment as a result of the continuing reluctance of European customers to make new investments, especially in the field of battery production. At the same time, the Supervisory Board of Manz AG is reorganizing the Managing Board. The previous CEO Martin Drasch will leave the company at his own request and by best mutual agreement on August 31, 2024. With effect from July 15, 2024, the Supervisory Board has appointed Dr. Ulrich Brahms as a new member of the Managing Board and from 1st of September 2024 on as Chief Executive Officer (CEO) with a term of office of three years. Dr. Brahms has many years of experience in mechanical engineering. He is a proven expert in the strategic realignment and restructuring of companies and will use his know-how and in-depth knowledge of the market to consistently drive forward the strategic positioning of Manz AG. The core of the efficiency program adopted by the Managing Board with the approval of the Supervisory Board is the streamlining of the organization and optimization of processes. For example, the previously independent structures in the business segments at the Reutlingen site are to be merged organizationally. In this way, efficiency in the handling of customer projects is increased. The aim is to work on and manage all projects bundled in the overarching and closely interlinked areas of technological development, sales, project management and project controlling according to uniform standards in the future. As part of the efficiency program, Manz AG will also expand its strategic focus. Since entering the battery market, the company has been developing innovative systems for battery cell production, which are used in particular in new cell and module factories of European and North American automotive manufacturers and suppliers. So far, this market has not developed at the pace and with the reliability predicted. Nevertheless, the markets for electromobility will remain an interesting sales market for Manz in the long term.
11.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Manz AG |
Steigäckerstr. 5 | |
72768 Reutlingen | |
Germany | |
Phone: | +49 (0) 7121 9000-0 |
Fax: | +49 (0) 7121 9000-99 |
E-mail: | info@manz.com |
Internet: | http://www.manz.com |
ISIN: | DE000A0JQ5U3 |
WKN: | A0JQ5U |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1943853 |
End of News | EQS News Service |
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1943853 11.07.2024 CET/CEST
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