During November 20-30, a delegation headed by Zhang Chi, Party Secretary, Chairman and General Manager of KraussMaffei Company Limited (KMCL), visited KraussMaffei Group, an overseas subsidiary of KMCL, and its factory and R&D center located in Munich, Germany, where Zhang made a field survey on workplace safety, strategic development, management reform, R&D innovation and improvement in quality and performance of KraussMaffei Group and met with the management team and frontline employees.

At the KraussMaffei factory in Parsdorf, Zhang visited the business exhibition hall, manufacturing shops and the R&D center, and communicated with technicians and frontline employees to learn about production, business operation and their work and life.

During his visit, Zhang listened to the reports of the executives of the Group on the market situation, corporate governance and promotion of key projects, talked with business teams of injection molding, extrusion, reaction injection molding, digital service and solution, etc., presided over the supervisory board meeting and its subordinate chairman’s committee meeting, and made a special survey on management improvement, asset optimization and sourcing from China, etc.

At the staff assembly of the Group, Zhang analyzed the grim challenges that lie in front of us, recognized the strong consensus on revitalizing KraussMaffei’s technologies and brands developed over the past 185 years, and issued the following proposals to the executives and employees:

1. We must set a goal, work together to overcome all difficulties, make efforts to contribute to the reform and development of the Group, and rebuild a unique KraussMaffei that is technologically leading and boasts the highest level in segmented industries.

2. We must raise our awareness of crisis, heighten our sense of urgency, waste no time, keep improving key links such as market analyses, product positioning, supply chain management, production and delivery, etc., and promote business operations.

3. We must further optimize our asset structure, capacity distribution, product mix and suppliers management, make clear product positioning, balance and coordinate production capacity distribution, intensify efforts for sourcing from China, and contribute to improving the quality and returns and achieving sustainable development.

4. We must establish an organizational structure featuring more clear-cut rights and responsibilities, clearly define job responsibilities, improve business procedures, and increase work quality and efficiency.

5. We must develop a more reasonable performance evaluation mechanism and a special incentive plan, as well as scientific KPI indicators, strengthen process control and management by objectives, stimulate vitality and unleash driving forces for development to the greatest extent.

6. We must encourage all employees to participate in the work related to improving quality and efficiency, ensure that employees are masters of the Group, and actively make proposals and walk the talk. The executive level should open up channels for encouraging freedom of speech, and ensure that all requests are properly responded to and everything are properly carried out.