Business cycles dominated the first years of our existence

Oct 22, 2020 | Market News

The semiconductor boom at the end of the 1960s was a factor in the founding of our Villach plant. However, fiscal year 71/72 was already marked by a severe recession in the global semiconductor market. This almost led to the closure of the newly founded plant. At Siemens in Munich, 10,000 employees were on short-time work. In the spring of 1972, the market increased strongly again and production volumes doubled.

A recession began again in 1974. By 1976, the recession had bottomed out and the closure of the plant was again being discussed.  Wolfgang Spalek , the site manager at the time, motivated the workforce to deliver top performance. The resulting good performance ultimately helped to secure the future of the site. In the spring of 1977, the market recovered and it went steeply up again.

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