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Material Handling Headlines

Hamburg, Germany – In light of the current market, the Board of Management of Jungheinrich AG decided to intensify the measures taken so far to counter the effects of the economic crisis. The measures are designed to protect the company's future viability over the long term and to return to generating profits commensurate to the economic situation from 2010 onwards.

The Board of Management is reacting to the continued collapse of the world market for material handling equipment, which is still shrinking at a rate of about 50%. The market for material handling equipment is not expected to be revitalized before the second half of 2010.

The company will incur substantial one-off costs in the second half of 2009 as a result of the newly adopted package of measures, primarily in connection with intended personnel-adjustment measures. In addition to the 300 layoffs implemented at the German production sites at the beginning of the year, about 500 more jobs will have to be cut, in order to adapt the plants to the market's long-term requirements in structural terms. Adjustment measures affecting approximately 400 Jungheinrich sales employees initiated primarily outside Germany will have to be flanked by a further headcount reduction by an anticipated 150 employees in Germany and abroad.

The Board of Management will inform the Supervisory Board of the comprehensive package of measures at a meeting at the beginning of August.

Read the full story at presseportal.de.

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