(DGAP-Media / 19.12.2012 / 14:04)
Press Release
odelo reacts to challenging automotive market - plans comprehensive
adjustment of corporate structure
- Site in Oberrot to be closed; existing business to be shifted to
Geislingen
- Structural adjustments also at headquarters in Schwaikheim and
production site in Geislingen
- Detailed concept and negotiations with Works Council in weeks to come
- Managing Partner Ahmet Bayraktar: 'odelo cannot disregard the
developments on the automobile markets; it has to adjust to retain its
long-term future prospects. We sincerely regret that we have to make
redundancies and we will try to do so in the most socially responsible
way possible'
Schwaikheim, 19 December 2012 - odelo GmbH ('odelo'), a manufacturer of
tail and signal lights for the premium segment of the automotive industry,
is reacting to the challenging situation in the automotive sector and sees
no choice but to extensively adjust its corporate structure. This will
involve closing down the Oberrot site in the district of Schwäbisch Hall.
The existing business is to be shifted to Geislingen. Looking forward,
odelo also expects necessary adjustments of the capacities at the
Geislingen site to match the anticipated decline in turnover.
The adjustment plans are a result of the vastly challenging current
situation on the international automotive markets, leading to high pressure
on costs and strong competition in the automotive supply industry. The
decline in series production no longer allows to compensate rising costs
with increasing productivity. 'The planned measures constitute severe cuts
for the workforce. However, they are unfortunately unavoidable in the
current market environment. They are the only way of maintaining odelo's
future prospects,' said Ahmet Bayraktar, Managing Partner of odelo.
At the headquarters in Schwaikheim the company is also planning to combine
jigs and fixtures production capacities into a smaller and more flexible
unit in order to effectively meet the requirements of technical problem
solving and strategic purchasing. Thus, odelo will retain key expertise in
the company. In addition, the try-out process is to be gradually moved to
the manufacturing plants.
The management has personally informed the employees of all German
locations about the plans at employee meetings over recent days. Management
aims to work out a detailed concept over the coming weeks and then enter
into concrete negotiations with the Works Council and the trade union. 'We
will do everything we can to find a socially responsible solution for the
employees affected,' explained Ahmet Bayraktar.
About odelo GmbH:
odelo GmbH, based in Schwaikheim, is a leading manufacturer of tail and
signal lights for the premium segment of the automotive industry. The
company was founded by Alfred Schefenacker in Esslingen in 1935. In 2007
the lights division of the Schefenacker group was split off, then renamed
odelo in 2008. In 2011 odelo was taken over by Bayraktalar Holding A. S., a
leading manufacturer in the automotive lighting sector in Turkey. As part
of the Bayraktalar group, odelo employs 1,600 workers at five different
locations in Germany and Slovenia.
Press contact:
Lasse Schmid
Lasse.Schmid@cnc-communications.com
Tel.: +49 89 599 458 142
Mobile: +49 172 838 2558
End of Media Release
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Issuer: odelo GmbH
Key word(s): Enterprise
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company of EquityStory AG.
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(END) Dow Jones Newswires
December 19, 2012 08:04 ET (13:04 GMT)
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