But positive outlook

Pankl in Kapfenberg: short stop for transmission plant

Wolfgang Plasser is CEO of Pankl

(Bild: Kundigraber | Pankl Racing Systems )

What will happen to Pankl and Krenhof in Styria after the insolvency of KTM? CEO Wolfgang Plasser announced a two-month production stop at a Kapfenberg plant, but still expects positive results.

Pankl Racing Systems and Krenhof have more than 1600 employees in Styria, mainly in Kapfenberg, Bruck and Köflach. They are part of Pierer Industrie AG, which is now undergoing a European restructuring process - the KTM insolvency is a consequence of this. Do the many employees in Styria also have to fear for their jobs?

"KTM is an important customer of Pankl," says CEO Wolfgang Plasser to "Krone". "In the last few days, we have intensively discussed and calculated measures and scenarios." The result: Pankl will generate positive results in 2024 and 2025, both in Styria and worldwide.

Layoffs and rehiring for 40 employees
Nevertheless, one plant will be shut down in the first quarter of 2025: "We expect production at our Kapfenberg gearbox plant to come to an almost complete standstill for two months," says Plasser. "40 employees will be laid off, but will be rehired from March."

Pankl's high-performance plant in Kapfenberg

(Bild: Meieregger)

Overall, says Plasser, the economic situation is affecting the locations differently. "Krenhof, for example, is primarily affected by the poor economy and little or not at all by the developments at KTM."

Slump for "normal" cars, records for sports cars
The pure automotive sector is weakening. However, the market for luxury sports cars and Formula 1 is on course for records. "The engine component plant in Bruck and the aerospace plant in Kapfenberg, which only opened last year, are working at full capacity," says Plasser. In Köflach near Krenhof, a new press for titanium alloys has been purchased to meet these needs and employees are being transferred internally.

There are currently few vacancies at Pankl, "but we are always looking for machining technicians". The decline in the Group's turnover is "in the low single-digit range. We have well-filled order books."