Faced with the global economic downturn, extruder maker Cincinnati Extrusion GmbH has cut costs and invested about 3 million euros ($4 million) to buy a surface grinder and a milling machine, to upgrade screw manufacturing at the company headquarters in Vienna.
The investment to modernize the screw operation positions Cincinnati Extrusion to prepare for the demands of the future, the company said.
Walter HÃ¤der, managing director and chief executive officer, said a sustained recovery is not expected before 2010. But he said the recession has not hit the firm as hard as some other machinery companies, because officials anticipated the sharp market decline in the middle of 2008; that led to corporate restructuring.
HÃ¤der said to avoid additional layoffs, the company in April will impose reduced working hours for at least three months.
Cincinnati Extrusion also recently bought a computer numerically controlled, cylindrical surface grinder from the Spanish company Danobat Group, and a RotoMill milling machine from WeingÃ¤rtner Maschinenbau GmbH of Austria.