Vecoplan invests millions and enjoys further success despite COVID-19

Vecoplan invests millions and enjoys further success despite COVID-19
19 November 2020

Despite the COVID-19 pandemic, Vecoplan AG has continued supplying machines and systems that shred, convey and process primary and secondary raw materials in the production and materials cycle, while running as profitably as last year.

"Despite COVID-19, our business is still very stable since we’re working through a high backlog of orders. One reason for these orders is our development offensive and the resulting product launches of recent months," says Werner Berens, CEO of the Vecoplan Group. 

"However, there will be a time lag in the recovery of incoming orders, because although the demand for Vecoplan machines is enormous, many companies are taking their time over final investment decisions due to the uncertainty of the current situation," says Michael Lambert, CFO of the Vecoplan Group.

The company's goal of increasing added value for its customers as well as the strong demand for its products were key factors in the decision to invest several million euros in the further modernisation of its production. The company intends to use this investment to increase capacities and optimise processes. Vecoplan will invest the lion's share of the capital into the production of shredding technology and around a third of it in conveying and storage technology. Its subsidiary in North Carolina, USA, has already invested around 10 per cent for the mobile shredding business. "Thanks to these investments, we can continue to meet the demands of the various markets," says the CEO. 

Since the outbreak of the pandemic, Vecoplan has avoided short-time work, job cuts and shutdowns. "We still expect the markets to fully recover, so we’re continuing to invest in the training and further education of our employees – and we'll even be greatly expanding our workforce," says Michael Lambert. The Westerwald company also strengthened its service division in recent months with 10 new employees.

Published under Cement News