Bystronic Announces Restructuring Plan to Enhance Customer Proximity

Bystronic is set to optimize its organizational structure by transitioning to a divisional system. This shift is aimed at bringing the company closer to its customers and reducing fixed costs. Bystronic plans to eliminate its existing regional structure and reduce its Executive Board to four members, effective October 1, 2024. The company will focus on integrating its competencies in machinery, automation, and software.

Further restructuring measures will include merging group functions and consolidating its global footprint. Despite these changes, Bystronic remains committed to its efficient production operations in Niederönz, Switzerland. CEO Domenico Iacovelli emphasized the necessity of these restructuring measures in response to market dynamics, aiming for greater agility and customer responsiveness.

The structural changes are expected to yield annualized savings in the mid double-digit million range, with one-time costs in the low double-digit million range. Bystronic aims to ensure profitability across the economic cycle with these initiatives.