In recent months, STEP-G has carried out an in-depth analysis of its business areas. This has shown that some segments are not achieving the level of profitability required to ensure the company’s sustained success. As an initial strategic measure, STEP-G will gradually scale back its further fabrication (FF) for rail vehicle construction at the Bonn location and plan to phase it out by the end of this year, as well as adjusting the plant structure.
“This decision was not taken lightly, as we are fully aware of the impact it will have on our employees and partners,” said Faruk Tüfekli, Co-Managing Director at STEP-G. “However, we firmly believe that this restructuring is a crucial step towards securing STEP-G’s long-term future.” By specifically improving our cost structures, we are not only creating a solid financial foundation but also enabling ourselves to allocate resources more efficiently. This gives us the opportunity to focus on the areas where we see the greatest growth potential. By consolidating our strengths and pursuing innovative approaches, we are confident that we can not only boost our competitiveness, but also ensure the long-term success of our company.”
Stefan Knabben, Co-Managing Director at STEP-G, adds: “The closure will take place gradually and is planned in such a way as to minimise the impact on employees. We will support all those affected and help them explore new opportunities.” The company will also continue to make targeted investments in profitable business areas and continuously optimise them to drive innovation and enhance customer service. We will review our existing products and services and make focused adjustments to respond more efficiently to our customers’ needs. These measures are designed to ensure that we remain competitive and deliver real added value for our customers. Our focus is on developing sustainable solutions that will improve both our internal processes and customer satisfaction.”
We would like to thank our customers, partners and employees for their understanding and support during this transitional phase. STEP-G is fully committed to further develop its high standards of quality and service, and to working closely with all stakeholders to shape a positive future.
Press release and image material to download:
Press release: STEP-G announces strategic restructuring measures to streamline operations
Image: As part of its transformation process, STEP-G is focusing even more strongly on automated manufacturing processes. // © STEP-G
For more information please contact:
Julia Preukschas, Marketing Manager
Tel: +49(0) 228 558-3026
julia.preukschas
@step-g.com
