Claus Bolza-Schünemann, president and CEO of KBA, used his company’s recent AGM to set out his commitment to the Fit@All restructuring program, saying: “It is clear that we must sustainably restructure our core business with web and sheetfed offset presses as well as realign capacities to new market conditions. The expansion of new growth areas is also a key aspect of our programme.”
This will include outsourcing more activities that lie outside of the group’s press-related core competences, which means cutting 1,100 and 1,500 jobs from today’s figure of approx. 6,200.
KBA will look to expand its niche application areas, including banknote and digital printing, metal decorating and coding. In addition, KBA is preparing a new group and management structure with the goal of becoming a decentralised, highly flexible press manufacturing group. As part of this it has already split the Sheetfed and Web offset activities into separate units.
Bolza-Schünemann said: “We aim to achieve an overall cost base at which group sales of €1bn will lead to appropriate earnings. We do not want to go overboard with cost savings or shrink beyond recognition, which is why the expansion of potential growth areas is a further pillar of our realignment.”
He went on to predict that the group will return to sustainable profitability “by 2016 at the latest.”
Meanwhile, Dr Mathias Dähn will replace Dr Axel Kaufmann, who resigned last year, as CFO. Dähn has a broad financial background including as director for group controlling at the MAN group where he was directly involved in various M&A activities, such as the sale of Manroland.