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DEUTZ invests €41 million in its German sites
Release Date:2020-12-28 15:06:09| Viewed:

Cologne, December 15, 2020 – DEUTZ and the IG Metall labor union have today agreed on a supplementary collective pay agreement with a three-year term. The main points that have been agreed are as follows:

I. Capital expenditure of approximately €41 million at the German sites in order to make them more competitive and enhance their ability to innovate
II. Protection of jobs and sites in Cologne, Herschbach, and Ulm
III. Savings on staff costs as a result of an unpaid increase in working hours and other financial contributions from all employees during the term of the agreement.

This represents another major step in safeguarding the Company’s operations in Germany, following on from the signing of the ‘DEUTZ Pact for the Future – Transform for Growth’ key issues paper in August and the start of the volunteer program on September 1, 2020 that was included in the paper. These measures will also further strengthen the Company’s competitiveness.

“The action plan agreed today constitutes further progress in safeguarding the future viability of our Company. We are aware that, with the signing of this agreement, our employees are making a significant contribution to protecting jobs at our sites in Germany,” says Dr. Frank Hiller, Chairman of the Board of Management of DEUTZ. “The labor union, workforce, and the Company have worked together in exemplary fashion to find a good solution.”

 
 
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