The Oerlikon Group will simplify its Textile Segment to further increase competitiveness and profitability. The three key elements of this change are:-
• the consolidation of the five Textile machinery and components businesses into three Business Units (BUs),
• the relocation of Textile's headquarters to Shanghai, and
• increased R&D investment in both Germany and Asia to around CHF 80 million.
In line with the new organizational structure, Clement Woon, an internationally experienced executive will succeed Thomas Babacan as Segment CEO on 1 January 2012. Oerlikon's CEO, Dr. Michael Buscher, said: "We have seen strong improvement in our Textile business, resulting in record margins.
With the announcement we are positioning the Segment even closer to our largest customers, consistent with our strategy to further increase efficiency and profitability. I would like to thank Thomas Babacan for his dedication to Oerlikon and welcome Clement Woon to the company."
Announcement supports the continuation of the focus on operational discipline, lifting the underlying performance of Oerlikon Textile to a new level, building on an already strong market position in Asia.
For more details please visit: Oerlikon Group Reorganizing Its Textile Division @ Fiber2fashion
• the consolidation of the five Textile machinery and components businesses into three Business Units (BUs),
• the relocation of Textile's headquarters to Shanghai, and
• increased R&D investment in both Germany and Asia to around CHF 80 million.
In line with the new organizational structure, Clement Woon, an internationally experienced executive will succeed Thomas Babacan as Segment CEO on 1 January 2012. Oerlikon's CEO, Dr. Michael Buscher, said: "We have seen strong improvement in our Textile business, resulting in record margins.
With the announcement we are positioning the Segment even closer to our largest customers, consistent with our strategy to further increase efficiency and profitability. I would like to thank Thomas Babacan for his dedication to Oerlikon and welcome Clement Woon to the company."
Announcement supports the continuation of the focus on operational discipline, lifting the underlying performance of Oerlikon Textile to a new level, building on an already strong market position in Asia.
For more details please visit: Oerlikon Group Reorganizing Its Textile Division @ Fiber2fashion
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