This will be achieved through a Group-wide program of optimizing costs and raising efficiency across all four divisions in the next three years, and with a total volume of around EUR 900 million. Due to the Group’s strong position, the program can be implemented without a cyclical reduction in employee numbers, i.e., in contrast to many other industrial companies, it is assumed that the number of Group employees will remain stable over the medium term. The focus of the program lies in the sectors of working capital, logistics optimization, raising energy efficiency and improving raw materials costs, as well as new methods of organizing a series of business units. Further key areas include optimizing plant maintenance, the drive to use Group synergies, entering new market regions, and accelerating restructuring at problematic sites.
The management is counting on the knowledge and skills of its employees in implementing all these measures, and is convinced that this EUR 900 million program will enable us not only to maintain our leading position but to extend it further, thereby providing the Group with a long-term perspective.