heidelberger druck shuts down finishing machine production

by:Homkey Packaging     2020-10-20
FRANKFURT (Reuters)-
Heidelberger Druckmaschinen, a German printer manufacturer, announced plans to shut down its own finishing machine production, which will result in the closure of the plant and affect 650 jobs.
The company said on Wednesday it will establish a strategic partnership with Masterwork Machinery Co. in China, which will develop and manufacture Post-printed packaging products in the future.
The Swiss company Miller Martini will take over the services of the installed equipment from the discontinued series.
The restructuring will increase revenue by about 30 million euros ($40. 1 million)
One year is a step towards achieving the target profit margin of earnings before interest, tax, depreciation and amortization (EBITDA)
Hedberg Drucker said there were at least 8% people in fiscal 2015/16. ($1 = 0. 7484 Euros)(
This version of the story corrects the headlines and causes Hedberg Drucker masning to shut down the production of the finish machine instead of the folding machine)(
Reports from Maria Sheahan;
Kirsti Knolle and David Evans editor)
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