SCHEFENACKER
Relocation of headquarters / Mirror competence centre in China / Expansion in central Europe
German automotive supplier Schefenacker (Esslingen; www.schefenacker.com), world´s leading supplier of automotive mirrors, is relocating its group headquarters from Esslingen to Schwaikheim / Germany as part of a restructuring programme. The move is expected to go hand in hand with a “certain amount of shrinkage” in the 200-strong workforce at the headquarters, although no specific job-cutting measures are said to be planned. The only operations remaining at Esslingen will be the packaging and logistics activities of the Automotive Sound Systems division with around 100 employees.
Alongside central Europe, Schefenacker is concentrating on Asian markets, where it recently acquired a 30% stake in Changchun Mekra Lang Fawer Vehicle Mirror (Changchun / China). A competence centre for mirrors is to be built at the Chinese site in cooperation with truck mirror specialist Mekra Lang (Fürth / Germany; www.mekra-lang.com). Chinese car manufacturer FAW Sihuan is also involved in the project.
The German group is not yet satisifed with its presence in China, considering the size of the market. According to a spokesman, it wants to exploit the country´s growth potential and break the dominance of the world market leader, Magna Donnelly. The Magna subsidiary has a share of nearly 70% in North America, western Europe and Asia-Pacific. With nearly 30%, Schefenacker is number two.
In central Europe, plans are to expand the workforce at the new factory operated by Schefenacker Automotive Parts Slovenia from 30 to 100 before the end of 2006. This company formerly was part of the joint venture Schefenacker Grah Automotive (Slovenske Konjice / Slovenia) with the Grah family. The new plant produces complete rear light modules.
Nearly 72% of Schefenacker´s EUR 952m total sales in 2004 were in the Rear Vision Systems segment. The Rear & Interior Lighting division contributed another 17.5%, and the smallest segment, Automotive Sound Systems, accounted for just under 10%. Up to the third quarter of 2005, cumulative sales totalled EUR 696m, down from EUR 715m in the 2004 time frame, while the cumulative loss came to to EUR 37m. At present, the group is an estimated EUR 420m in the red.
• e-Service:
Schefenacker report on the third quarter of 2005 as PDF document (187 kB)
Alongside central Europe, Schefenacker is concentrating on Asian markets, where it recently acquired a 30% stake in Changchun Mekra Lang Fawer Vehicle Mirror (Changchun / China). A competence centre for mirrors is to be built at the Chinese site in cooperation with truck mirror specialist Mekra Lang (Fürth / Germany; www.mekra-lang.com). Chinese car manufacturer FAW Sihuan is also involved in the project.
The German group is not yet satisifed with its presence in China, considering the size of the market. According to a spokesman, it wants to exploit the country´s growth potential and break the dominance of the world market leader, Magna Donnelly. The Magna subsidiary has a share of nearly 70% in North America, western Europe and Asia-Pacific. With nearly 30%, Schefenacker is number two.
In central Europe, plans are to expand the workforce at the new factory operated by Schefenacker Automotive Parts Slovenia from 30 to 100 before the end of 2006. This company formerly was part of the joint venture Schefenacker Grah Automotive (Slovenske Konjice / Slovenia) with the Grah family. The new plant produces complete rear light modules.
Nearly 72% of Schefenacker´s EUR 952m total sales in 2004 were in the Rear Vision Systems segment. The Rear & Interior Lighting division contributed another 17.5%, and the smallest segment, Automotive Sound Systems, accounted for just under 10%. Up to the third quarter of 2005, cumulative sales totalled EUR 696m, down from EUR 715m in the 2004 time frame, while the cumulative loss came to to EUR 37m. At present, the group is an estimated EUR 420m in the red.
• e-Service:
Schefenacker report on the third quarter of 2005 as PDF document (187 kB)
01.12.2005 Plasteurope.com [204071]
Published on 01.12.2005
German version of this article...