GETRAG Business Report FY ended Dec. 31, 2009 - 2010
Business Highlights
Recent Years
-In Mar. 2010, German-based Getrag Getriebe-und Zahnradfabrik Hermann Hagenmeyer GmbH & Cie KG, part of Getrag Group Transmissions, announced its plan to implement restructuring measures as economic climate in the European auto industry continues to be weak. Under the plan, production at the Ludwigsburg facility will be closed no later than the end of 2011. Restructuring will also be conducted at other plants in Neuenstein and Bad Windsheim as well as in Untergruppenbach where its corporate headquarters and development center are located. In total a reduction of 698 jobs might be necessary within the next two and a half years. (From a press release on March 9, 2010)
Supply contracts released in 2010
Restructuring
<Getrag Group Transmissions>-In Mar. 2010, German-based Getrag Getriebe-und Zahnradfabrik Hermann Hagenmeyer GmbH & Cie KG, part of Getrag Group Transmissions, announced its plan to implement restructuring measures as economic climate in the European auto industry continues to be weak. Under the plan, production at the Ludwigsburg facility will be closed no later than the end of 2011. Restructuring will also be conducted at other plants in Neuenstein and Bad Windsheim as well as in Untergruppenbach where its corporate headquarters and development center are located. In total a reduction of 698 jobs might be necessary within the next two and a half years. (From a press release on March 9, 2010)