Abstract
In the early nineties, the global machine tool industry was struck by an economic downturn in most of its customers’ industries, especially the automotive industry and its suppliers. Consequently, a loss of more than 50% of production resulted in the German machine tool industry, see Figure 1 and the statistical reports published by the VDMA (1993, 1994b, 1995). German manufacturers were severely hit and many suffered losses that drove them out of business or forced them to merge with other manufacturers. Well known in the German industry are the Deckel merger with MAHO and afterwards the merger of Deckel-MAHO with Gildemeister in mid 1994. Overall, global competition between machine tool manufacturers has become fiercer. Recently, the German Machinery and Plant Manufacturers’ Association warned that it was almost impossible to generate profit by building machine tools in Germany, see VDMA (1991).
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