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SMS Meer to Expand Mönchengladbach Site
07/15/2011 - SMS Meer is investing around 60 million euros in the expansion of its Mönchengladbach site in Germany by 2015 to increase productivity, reduce delivery times, and safeguard jobs over the long term.
SMS Meer, Germany, is investing around 60 million euros in the expansion of its Mönchengladbach site by 2015 to increase productivity, reduce delivery times, and safeguard jobs at the site over the long term, according to Dr. Joachim Schönbeck, the company’s President and CEO.
The modernization of machinery is expected to reduce unit costs considerably, while shortening lead times. The expansion of the heavy-equipment bay will further improve production processes.
Dr. Schönbeck said, “Germany as a location offers benefits, particularly thanks to our committed, well-trained employees. If we can retain our place at the top here, then Germany, too, still has a good future in front of it as a production location.”
The investment is not linked to a reduction in the workforce, the company stressed. The SMS Meer business area employs 3000 staff worldwide, with 1400 in Mönchengladbach.
SMS Meer GmbH is a company of the SMS group, which is, under the roof of the SMS Holding GmbH, a group of companies internationally active in plant construction and mechanical engineering for the steel and nonferrous metals industry. It consists of the two business areas, SMS Siemag and SMS Meer. In 2010, about 9200 employees worldwide generated a turnover of EUR 3 billion.
