Kiekert closes 2010 with a good result

Workforce benefits from the successful year
(PresseBox) (Heiligenhaus, ) The Kiekert group achieved a turnover of approximately €500 million in the business year 2010. Over the past three years the profitability of the global leader of automotive locking systems has been improved fundamentally. At the same time, the customer portfolio has expanded substantially. The acquisitions of new business and volume from competitors have helped Kiekert to return already in 2010 to the excellent turnover figures of 2007.

Kiekert's global workforce was also able to benefit from the positive business figures achieved in 2010. During the critical months of the global economic crisis, the employees made financial sacrifices by accepting reductions in both hours and salaries. This loyalty to the company has now been rewarded. Just before Christmas, the management resolved that this success should be shared with the workforce by making an additional one-time bonus to every employee. The management also decided to bring forward the negotiated pay increases.

The positive business climate, and in particular the additional volumes, have allowed the supplier to make the necessary workforce adjustments at the factory in Heiligenhaus, Germany, on a voluntary basis. "Kiekert's workforce structure does not yet fully meet the requirements for coming years. Thanks to the positive economic situation, the necessary adjustments can be achieved by voluntary programs. From today's perspective, redundancies can be avoided in the coming years" says the management.

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Kiekert AG
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D-42579 Heiligenhaus
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