At Plasser & Theurer

New building worth 50 million euros to be taken over privately

Demolition work is underway at the former Quelle site on Industriezeile in Linz.(Bild: Dostal Harald)

Track construction machinery giant Plasser & Theurer is making an investment in Linz despite the austerity package: a new plant costing more than EUR 50 million will be built in the provincial capital from September. In order to protect the company's coffers, the owners are covering the costs privately.

The façade has been gone for some time. Now the demolition excavators are working their way further and further into the building and razing it to the ground by dismantling the ceilings and columns...

Forcing the savings course: boss Johannes Max-Theurer.(Bild: Harald Dostal, Plasser & Theurer)

Demolition work is in full swing where the Quelle department store once stood on Industriezeile in Linz. At the beginning of September, there will be nothing left to remind us of the building, and in the same month, Plasser & Theurer will give the official go-ahead for the construction of a plant for the final assembly and commissioning of track-laying machines with a ground-breaking ceremony

More than 50 million euros will be invested in this - the owner family around boss Johannes Max-Theurer is paying for the expansion from private funds. The reason: The company's liquidity should not be burdened.

Personnel costs to be reduced by 30 million euros this year
The track construction machinery giant put together an austerity package at the beginning of the year. Personnel costs alone are to be reduced by 30 million euros this year.

Workforce in Linz has shrunk by 70 employees since February
As a result, employees have been forgoing part of their salary since March, with gross pay cuts of between zero and 400 euros. A new wage system will be introduced for workers in October. In Linz, the number of employees has fallen from 2000 to just under 1930 since February.