Koenig & Bauer is setting out on a new decade long strategy aiming at growth and technological leadership and under the title Impact.
This is an acronym for Intelligence, Market, People, Adaptability, Competitiveness and Technology and representing pillars that will guide Koenig & Bauer from being a traditional manufacturer into a complete technology provider the company says, explaining: “With a clear focus on technological intelligence, operational excellence and proactive adaptability the company aims to actively shape the fate of the printing industry.”
The strategy has been rolled out across the company together with merchandise to drive home the message and ensure that all staff are on the same page. Employees will have access to digital working tools and a wide range of training courses to help support its customers. Koenig & Bauer wants to expand its service business which currently accounts for 30% of revenues.
There will be new products, aimed at gaining share in the high volume and price sensitive mid tech segment while targeting growth markets in Asia, India, Latin America and the Middle East.
There will be an emphasis on versatility and flexibility moving away from capacity limits at any site to a flexible model providing a base utilisation of the factories and producing more in-house to reduce dependence on lengthy supply chains by using local procurement where possible.
“The objective is to operate with technological and economic independence and to be future proof across all addressed markets – from the high end to the mid tech segment,” it says.
The strategy is being supported by using artificial intelligence internally as well with its machinery, which makes increasing use of digital printing and with finishing equipment and presses across all sectors, including flexible packaging and corrugated packaging. “These products are now ready for global expansion,” the company states.
While Impact switches the emphasis from the ‘right sizing’ that has been underway in recent years, further reductions cannot be ruled put. “Koenig & Bauer is working with the highest priority on optimising its manufacturing costs, this coming through cross divisional cost reduction programmes, improved make or buy decisions and global procurement strategies.”
CEO Stephen Kimmich says: “In challenging times, we do not rely on the markets to calm down, but actively shape the future of our industry. The market data shows us the door; we have to walk through it ourselves. Koenig & Bauer is acting – decisively, innovatively, and in the interest of the sustainable success of our customers.”
