An employee stands in a workshop at the headquarters of Heidelberger Druckmaschinen AG. (picture alliance / dpa)
German company Heidelberger Druckmaschinen AG and its long-standing Chinese sales partner Masterwork are looking to strengthen their position in the Chinese market. The production joint venture is to take over some of the machine parts previously manufactured at a German site, the company announced on Wednesday. Production is scheduled to start at the Masterwork site in Tianjin at the beginning of 2021.
With sales of 300 million euros, China is the largest market for Heidelberger Druckmaschinen. According to the company, Masterwork is the largest Chinese manufacturer of die cutters and hot foil embossing machines. "With the increasing purchase of locally manufactured parts, we are significantly increasing our competitiveness in this growth market," said CEO Rainer Hundsdörfer.
According to a spokesman, the long-planned move will not affect personnel. Heidelberg Druckmaschinen had announced in the spring that it was cutting 1,600 jobs. The number of employees worldwide currently stands at 11,300.
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