High Tech & Engineering

The German mechanical and plant engineering industry has just completed what could well be the most difficult year since the end of the Second World War. Efforts at introducing organizational improvements on all levels, political support, such as assistance with short time work, and the level-headed and responsible reactions of the industry itself have managed to keep the number of redundancies or bankruptcies to a minimum. Nonetheless, a great number of companies are still faced with a very slow resurgence of their markets – meaning that the efforts made in 2009 will not suffice to ensure their continued commercial viability and profitable future.

More restructuring initiatives require not only know-how, but also liquidity. It will be interesting to see how the banking world – one of the key actors of the current crisis – will support German SMBs in taking the necessary next steps. When it comes down to it, business will have to find their own solutions and convince the relevant stakeholders, be they clients, employees, suppliers, their partners in industrial relations, or sources for finance, of the viability of their proposed strategies. No stigmata should be attached to the invaluable restructuring work possible during insolvency protection. It should be seen for what it is – an opportunity to save companies and jobs even under the most adverse circumstances.

The industry will meet these challenges with its customary conscientiousness and power of innovation.

We will be there.

Contact: