One Maag America – Together, as a team, we can accomplish more Dear Team MAAG Americas, The first quarter of 2023 is behind us and we are seeing some challenges ahead. Orders have been trailing behind plan by 4%. March was a reasonably good orders month, yet we could not make up entirely for the very slow intake in January and February. Specifically, the recycling segment is currently very slow. Low virgin resin prices and high interest rates are temporarily slowing down investment in recycling. I do believe this will pass and we will pick up again later in the year. MAAG Americas is currently on par for shipments but behind in EBIT by 6% points. Our performance with respect to profitability is directly tied to how much we ship. March has been a good shipments month and if we can keep up the pace, we will make up some ground in the coming months. On the group level MAAG is about on plan for the first quarter – we win as a Team. We have made on time delivery improvements a major theme for 2023. MAAG Kent held last month their first Kaizen event to dig deeper how to improve such. As it has been discussed prior, it is clear that every team from sales to final assembly and shipping plays a role and there is significant room for improvement to keep systems on track. I am pleased with the action items that came out of that first event and we will start implementing changes in the coming months. The Eagle Rock team will host a similar event later this year. Currently they are focused on improving engineering and shop floor scheduling to get a much better handle on true capacities. This, in combination with lower order intake, is resulting in shorter lead times for our customers. Cheers - Martin
MAAG’s management team visited Witte in Hamburg, Germany March 21 st . Ueli Thuerig provided an update on MAAG and the integration efforts during a town hall meeting. Communication is key in all integrations, there are many questions, and it is never done within just a few months. We had lots of one-on-one conversations with the Witte team and all the employees appreciated that we visited and made ourselves available for Q&A.
Made with FlippingBook. PDF to flipbook with ease