Tough times lie ahead

first_imgTHERE was a time ’when we could have fun with the engineers’, mused Adtranz President & Chief Executive Officer Kaare Vagner on September 10. Not any more. With railways forcing down rolling stock prices and higher profits at the top of the Adtranz agenda, the CEO’s strategy means attacking the cost base: ’tough times are ahead’, he warns. His message is addressed particularly at the group’s German operations. The 11 major factories employing 8500 people represent an unacceptable degree of overcapacity, and downsizing is inevitable.Adtranz is already using its cheaper plants in eastern Europe to supply hardware for assembly in the west. For example, bodyshells for German Railway’s Class 101 locos being put together in Kassel (above) are now coming from the Pafawag plant in Poland. Kassel has already been reorganised to assemble locos on a single production line, and the huge premises at Hennigsdorf near Berlin face similar change.Vagner’s restructuring model is taken from Britain, and he is ’flying in a British restructuring team’ to Germany to oversee the changes. He considers rationalisation to have been well handled in Britain as management faced up to a dearth of rolling stock orders during the privatisation of British Rail – costs in Britain are now 50% lower than in Germany. He also feels that purchase of former railway workshops has given Adtranz an advantage in terms of maintenance expertise. This business is set to grow: already DM100m of work a year is being contracted out by DB, and Adtranz has projects in Uganda, India and Latin America.All this does not mean that the thirst for acquisitions has been slaked – Schindler’s rolling stock business in Switzerland will be added to the Adtranz portfolio on January 1. Vagner says the Swiss company’s expertise in aluminium shell production and double-deckers will complement current capabilities, as well as secure access to the Swiss market.The group has just set up an office in France, where it is angling for all or part of the contract to supply up to 1400 metro cars for Paris in the early years of the next century. Another acquisition is the expertise of former Eurotunnel Co-Chairman Sir Alastair Morton (p654), who will be well able to contribute advice on funding large projects.By 2002 Vagner expects to be employing 25% fewer people in Europe, but activity in India and Latin America will increase. Among projects being tendered at the moment are suburban trains for Buenos Aires, which Vagner hinted could be a version of the British 365 or a Danish Flexliner.Apart from lifting operating profit above last year’s 4% (RG 7.97 p467) Vagner has other ambitions: ’I have one dream left, no two. The first is to turn in real profits, and the second is to merge with GE Transportation … we would make a hell of a team.’ He confirmed discussions had taken place but acknowledged that ’I don’t know that it is possible’. Adtranz and GE already co-operate on the Blue Tiger, and this may grow into something more. olast_img read more

Liverpool complete signing of Thiago Alcantara from Bayern

first_img Loading… “It also [has] this kind of family [feeling] that I need because we [like to] have a very close relationship with the club and I think I will feel this, I will have this feeling, with this club as well.” Thiago moves to Anfield fresh from helping Bayern clinch a prestigious treble as they won the Bundesliga, German cup and Champions League in 2019-20, during which he featured 40 times. Promoted ContentTop 7 Best Car Manufacturers Of All TimeBirds Enjoy Living In A Gallery Space Created For Them6 Incredibly Strange Facts About HurricanesCouples Who Celebrated Their Union In A Unique, Unforgettable WayThe Highest Paid Football Players In The WorldThis Guy Photoshopped Himself Into Celeb Pics And It’s Hysterical10 Risky Jobs Some Women DoWhich Country Is The Most Romantic In The World?What Are The Most Delicious Foods Out There?7 Black Hole Facts That Will Change Your View Of The UniverseThe Highest Paid Football Players In The WorldTop 10 Most Romantic Nations In The World Moments after sealing the move, Thiago told Liverpoolfc.com: “I think it’s an amazing feeling. I was waiting for this moment for a long time and I am very, very happy to be here. “When the years are passing, you are trying to win as much as you can – and when you win, you want to win more. I think this club describes what I am as well; I want to achieve all of the goals, win as many trophies as possible. Read Also: Liverpool open Barcelona talks about Dembele loan “Everything is more compact and we started a little bit later, but still it is football and I think we have to mix all the big things up, all the good things we have. I will help the team in a defensive and offensive [way] and also in a mental aspect. “[The fans] are not more excited than I am, for sure not! It is not about saying words, it is about doing the things. I will give my heart on the field to my teammates, the club and also to the fans.” FacebookTwitterWhatsAppEmail分享 Premier League champions Liverpool have completed a deal for the permanent transfer of Thiago Alcantara from FC Bayern Munich. According to Liverpool official website, the Spain international midfielder has put pen to paper on a long-term contract with the Reds and becomes the club’s second signing of the transfer window, following Kostas Tsimikas in August. The 29-year-old, who also has 39 caps for Spain, spent seven seasons at the Allianz Arena having transferred to Germany from FC Barcelona, where he began his career. In total, Thiago has won nine league titles, two Champions Leagues and two FIFA Club World Cups with his respective previous teams. He added: “I must adapt to the team as fast as I can in the situation and the context that we are living right now.last_img read more