FULL SPEED INTO THE FUTURE

WIELAND ELECTRIC CLOSES 2020 WITH POSITIVE YEAR-END SURPLUS AND PLANS TO PUSH AHEAD WITH DIGITALIZATION IN THE NEW YEAR

The year 2020, marked by the Corona pandemic, has demanded a lot from the German economy, especially from medium-sized businesses. The long-established Bamberg-based company Wieland Electric has not been spared either. It had to fight against declining sales, postpone investments, projects and personnel measures and establish a restrictive cost management. On the other hand, the family-owned company only had to resort to short-time work to a limited extent and was instead able to reach an agreement with the works council on a capacity adjustment, which included the reduction of vacation, flextime and credit balances from the economic stimulus account. 

As can now be seen, the efforts have paid off: "We can look back on a satisfactory year, considering the circumstances, and will close 2020 with a positive net income," sums up Managing Director Bernd P. Uckrow and at the same time confirms that the jobs at Wieland Electric are secure. As a thank you for their commitment and hard work, all employees will receive a Corona bonus, which will be paid out before Christmas. In addition, the company will provide more than 200,000 euros from this year's solidarity collective agreement to employees affected by short-time work. The aim here is to provide particular relief for the lower pay groups. 

Looking ahead to the new year, Wieland Electric is full of drive: In 2021, the so-called "transformation", the future orientation of the company, is not only to gain momentum, but the company wants to make up for lost time as far as possible. Based on a slight recovery in sales figures, investments in the order of 10 million euros are planned. In addition, the topics of digitalization and process optimization are to be given high priority. The international presence is also to be expanded with a stronger industry focus and a tailored product portfolio. The company management will be supported by the new technical managing director Dr. Börne Rensing from January 1, 2021. Dieter Gleisberg will end his position as Managing Director on December 31, 2020, but will continue to support central projects on behalf of the management.