Heidelberg: "FOCUS 2012" Program to Achieve Profitability Targets

The target is to achieve total sustainable savings of around EUR 180 million in financial year 2013/14. Depending on the results of negotiations with employee representatives and other factors, the non-recurring expenditure required to do so is estimated at up to EUR 150 million.

"The ongoing economic uncertainties will continue to put a brake on the industry's recovery. We are seeing weaker demand in industrialized nations but stronger growth potential in emerging markets," said Heidelberg CEO Bernhard Schreier. "FOCUS 2012 will position Heidelberg accordingly, above all by significantly reducing production capacities and by adjusting sales activities to the regional market changes. This will create the basis and efficient structures needed for profitable business development," he added.