The supply chain law plays a crucial role in ensuring human rights standards are met, but the impact on businesses can vary depending on their suppliers and their adherence to these standards. For example, working with western suppliers may reduce the risk of human rights violations, but it still requires significant effort to comply with requirements.
In terms of administration, the company employs a mix of workers and employees, with a small percentage dedicated to administrative tasks. Research and development are integrated into production, especially for prototypes and product development with large customers. Austria and Europe’s strong training programs can still benefit the company in terms of skilled workers, with apprenticeships being an important part of the workforce. Despite high non-wage labor costs and wage agreements, the company aims to excel in technology and quality leadership to remain competitive.
The decision to produce in Ternitz is driven by its historical presence in the area, modern production facilities, and a highly trained workforce. With a focus on specialized products and a global presence, the company provides high-quality products that customers are willing to pay more for. Despite shifting energy landscapes, the company sees opportunities for growth in new markets related to the energy transition. While traditional oil and gas production remains a core part of the business, the company is also expanding into new energy sectors with growth potential. The Russian war of aggression against Ukraine had minimal impact on the company as Russia is not a major market for them. Compliance with sanctions led to a halt in deliveries to Russia, which represented a small percentage of total sales. The company remains focused on its core markets and continues to grow in the new energy sector.
In conclusion, by focusing on technology and quality leadership, nurturing talented employees, and exploring new opportunities in the energy transition, this company continues to navigate challenges in the business landscape while remaining resilient and adaptable to changing circumstances in the market.
