German machine tool industry anticipates drop in production for 2009 -
Companies plan to retain core workforce
11.12.2008 - The German Machine Tool Builders’ Association (VDW), Frankfurt am Main, is predicting a 15 per cent drop in German machine tool production for the coming year. “In the wake of an unparalleled five-year boom, we are now being massively hit by our customers’ production cutbacks both at home and abroad,” said VDW Chairman Carl Martin Welcker, explaining the Association’s forecast.