* Says economic uncertainty hurting industry recovery
* Says to slash production capacity by 15 percent
* Aims to save 180 million euros by 2013/14
* Q3 incoming orders down 4.2 percent
(Adds details, background)
FRANKFURT, Jan 17 Heidelberger
Druckmaschinen AG is slashing up to 2,000 more jobs
around the world to cut costs as economic uncertainty hurts
demand for printing machines.
"The ongoing economic uncertainties will continue to put a
brake on the industry's recovery," Chief Executive Bernhard
Schreier said in a statement on Tuesday.
Heidelberg, the world No.1 maker in sheetfed offset printing
machines, has already cut one in five jobs to halt several years
of losses and has seen its market value collapse in recent years
to less than 400 million euros ($507 million) from more than 2.5
The latest round of job cuts, of which 1,200 will be in the
company's German home market, represents almost 13 percent of
Heidelberg's current global workforce.
Heidelberg said it plans to slash production capacity by
about 15 percent, shift service capacities to emerging markets,
cut spending on research and development, and pool sales and
It aims to save 180 million euros by 2013/14, Heidelberg
said, affirming its target of posting operating profit before
special items of about 150 million euros for that year.
Incoming orders in the fiscal third quarter to the end of
December fell by 4.2 percent to 630 million euros, Heidelberg
($1 = 0.7891 euros)
(Reporting by Maria Sheahan; Editing by David Holmes)