Steinweg hit by domestic slump

German construction hoist and lift manufacturer Steinweg is restructuring operations as its domestic market remains stagnant.
Most of the company's output is destined for the domestic market, including several models tailored to the German construction industry that have little or no export potential.
Managing director Klaus Steinweg said poor economic conditions in Germany were its main problem and the strong Euro was not helping.
However, he said following restructuring, production should return to normal.
Martin Gibson, director of Steinweg UK, said product and spare parts for the UK market were still being received as normal.