The company is a global ODM (Original Design Manufacturer). Over the past years, revenues were stagnating at a declining productivity. Due to long-term losses, the equity became negative. There was also an extreme liquidity gap (one member of the global banking consortium had blocked the accounts). Overheads were too high.
Interim CEO for the restructuring process Ensure liquidity. Significant reduction of overheads in the headquarters and in Asia, shutting down inefficient sales offices. Bold increase of customer share at two key accounts.
Liquidity was secured after a negotiation marathon with the bank consortium. The plant in the CIS has been transferred to an independent exclusive supplier. The capacity of the Eastern European plant was increased by a multiple of 3. This was achieved by a big increase in productivity in plastic processing and assembly. The number of program directors was reduced. The overhead in the Asian plant has been adjusted.
Being back with reliable deliveries additional orders and new projects could be acquired. The mould making capacity was fully utilized and acquired many injection moulding contracts. We achieved the highest turnover in the company history and stopped the 4-year loss period. A comfortable liquidity level was achieved.