VAT ends short-time work and is optimistic
Published: Thursday, Nov 30th 2023, 07:40
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The vacuum valve manufacturer VAT, based in Haag SG, is ending short-time working in Switzerland due to an improved order situation. The vacuum valve manufacturer is also preparing for the expected upturn.
In June of this year, VAT introduced short-time working for its approximately 650 employees at the two Swiss sites; in August, the measure was then extended by three months. As of December 1, the short-time work will finally come to an end, according to a press release issued on Thursday.
The end of short-time working is justified by strong demand in the Advanced Industrials division. In addition, demand in the Semiconductor and Global Service divisions has stabilized.
The outlook for China remains rather "sober". This is mainly due to "persistently weak consumer and industrial spending and uncertainty about exports of production equipment to China", it says. The situation is expected to remain the same in the first half of 2024.
However, the management is optimistic about the growth prospects. For this reason, short-time working has been ended in order to have the necessary capacities ready for the expected upturn.
The company is also continuing to drive forward its efficiency efforts. A new ERP system at the Swiss locations, for example, is planned to be introduced in summer 2024.
©Keystone/SDA
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