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Structural adjustment of FRIWO
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| 09/03/2001 |
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| Structural adjustment of FRIWO |
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CEAG AG:
Structural adjustment of FRIWO
Ostbevern/Bad Homburg v.d.H., September 3, 2001
CEAG AG, holding of the FRIWO Group and, with the brand FRIWO, worldwide leading manufacturer of chargers for mobile phones, reacts not only abroad but also domestically to the market development and reduced sales volumes of the telecommunication market by adjusting its capacities.
In addition to 2,000 job cuts (of 7,500) in the first 6 months among the foreign subsidiaries, the enterprise now adjusts to the changed market requirements. The current price and cost situation leads to the necessity of transferring the last mass product from Ostbevern to China and therefore to 66 production related job cuts.
According to President Rolf Endress, the current market and competition situation does not offer any alternate solutions. Endress: "We are trying everything to protect the Ostbevern location. Due to the current development we need to save costs by transferring the mass production for the telecommunication market abroad. Nevertheless, we are searching for R&D engineers and technicians to push our promising non-telecommunication business fields and to further reduce the dependence on the telecommunication sector.
Short portraits
CEAG AG. Germany
With the brand FRIWO and a market share of over 22 per cent, the CEAG AG, a holding of FRIWO Group headquartered in Bad Homburg v. d. Hoehe, Germany, is the worldwide leading supplier of chargers and power supplies for mobile telephones. Moreover, individual chargers and power supplies are manufactured for numerous applications in the electronic industry, information technology, medicine technology as well as in door and lock technology. The group's turnover amounted to 260.8 million EUR in the financial year 2000.
Worldwide more than 8,000 people were employed. CEAG AG has manufacturing facilities in Europe, America and Asia. By expanding manufacturing locations in the U.S. and Mexico (1999) as well as by
founding new sales offices in Japan and Brazil (2001), FRIWO consolidates its position on all important growing markets. Main shareholder is DELTON AG with almost 77 per cent of the capital stock. Since June 8, 2001, CEAG AG is SMAX quoted and since July 30 it is SDAX quoted.
DELTON AG
The DELTON AG, in Bad Homburg, bundles entrepreneurial investments of its sole shareholder Stefan Quandt. In the financial year 2000 the group achieved a sales volume of approximately 730 million euros and employed worldwide more than 10,000 employees. As a strategic management holding DELTON leads apart of the CEAG AG (power supply) value creating entrepreneurial activities in business sectors logistics, drugs, household products and fashion. Thus the enterprise commits itself in clearly defined segments of future oriented growth markets, in which on a global scale a market leading position is already achieved or targetted.
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FRIWO