SGL says up to 300 jobs affected by cost-cutting program

AUTOMOTIVE NEWS

Published: December 12, 2013 3:49 pm ET
Updated: December 12, 2013 3:53 pm ET

Related to this story

Topics Automotive, Sustainability, Composites

FRANKFURT, GERMANY — Germany's SGL Group, which helps make carbon fiber reinforced parts for BMW Group's electric i3, said in a statement that its global work force will be reduced by up to 300 jobs as part of a cost-cutting program.

Of the 150 million euros ($206 million) in annual cost savings it aims to achieve by the end of 2015, 50 million euros will be realized in 2013, it added.

SGL announced in September it would reduce its annual costs by about 150 million euros by the end of 2015 as it seeks to counter a slump at its graphite electrodes and carbon fiber businesses.


Comments

SGL says up to 300 jobs affected by cost-cutting program

AUTOMOTIVE NEWS

Published: December 12, 2013 3:49 pm ET
Updated: December 12, 2013 3:53 pm ET

Post Your Comments


Back to story


More stories

Image

Magna opens new exterior facility, plans for lighting investment

October 30, 2014 1:36 pm ET

Canadian automotive supplier Magna International Inc. on Oct. 28 opened a new injection molding and robotic paint line facility in Delta Township,...    More

Image

Finalists named for 2014 SPE Automotive Innovation Awards

October 30, 2014 11:00 am ET

The Society of Plastics Engineers Automotive Division has selected finalists for its 2014 Automotive Innovation Awards competition. Category winners...    More

Image

Detroit Manufacturing Systems to hire 200 for F-150 production

October 29, 2014 10:40 am ET

Interior trim supplier Detroit Manufacturing Systems LLC plans to hire 200 assembly workers by January to support production growth of Ford Motor Co....    More

Image

Teknor Apex expands production of recycled nylon to Europe

October 29, 2014 10:12 am ET

Materials firm Teknor Apex Co. is making its recycled nylon compounds available in Europe for the first time.    More

Image

Trex sets quarterly sales record with more business on tap

October 28, 2014 1:09 pm ET

Composite deck maker Trex Co. Inc. set sales and earnings records for the third quarter of 2014 and is on track to see revenue reach $388 million for ...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events