GRAMMER
Further globalisation / Higher sales and earnings / Plants in Brazil and China
With a strategy of greater internationalisation, Grammer AG (D-92204 Amberg) is continuing its course of expansion. This manufacturer of seats, seating systems and car fittings boosted group sales in the first quarter of 1998 by 15% to DEM 157m. For 1998 as a whole, the company is expecting sales to grow by 18% to DEM 660m.
Grammer is thus continuing the success it has enjoyed over the past few years. At the recent balance sheet press conference, Board member Wolfgang Steinbach reported that, in 1997, Grammer posted results from ordinary business operations of DEM 41.3m (35.3m), a rise of 17%. Consolidated sales of the Grammer Group were up 19% to DEM 565.6m (474.7m). Foreign sales grew at an above-average rate of 30% to DEM 256.2m, as a result of which the Group's export ratio jumped from 42 to 45%. Of the three product segments, driver's seats, passenger seats and car fittings, the latter recorded the highest rate of increase, namely 27%. All in all, interior components – which include head restraints, arm rests, side trim and integrated child seats – achieved sales of DEM 236.1m. Sales of driver's seats were up 14% to DEM 247.2m, and passenger seats up 22% to DEM 64.3m. Other sales amounted to DEM 18m. Grammer Wackersdorf GmbH, which began in April 1997 with the production of head restraints for BMW's new 3 series, contributed DEM 6m to the sales growth.
One of Grammer's prime strategic goals is greater internationalisation. The Group, which had 17 production and marketing companies in 10 countries at the end of 1997, will be realising a number of international projects in the near future. From mid-1998, Grammer Seating (Xiamen) Ltd., a 95/5 joint venture with a Chinese partner, will begin manufacturing driver's seats for the entire Far Eastern region. A new facility in Coritiba, Brazil, is scheduled to begin supplying car interior components from March 1999 for the VW/Audi models, Golf, Passat and A3, which are manufactured at VW's Brazilian factory. Grammer has also succeeded in winning Opel as a new customer and will be supplying interior components for the Omega from 1999.
READER SERVICE: Press conference speech from Wolfgang Steinbach: PIE-No. 42788 – Grammer Group Annual Report 1997: PIE-No. 42789 (all in German).
Grammer is thus continuing the success it has enjoyed over the past few years. At the recent balance sheet press conference, Board member Wolfgang Steinbach reported that, in 1997, Grammer posted results from ordinary business operations of DEM 41.3m (35.3m), a rise of 17%. Consolidated sales of the Grammer Group were up 19% to DEM 565.6m (474.7m). Foreign sales grew at an above-average rate of 30% to DEM 256.2m, as a result of which the Group's export ratio jumped from 42 to 45%. Of the three product segments, driver's seats, passenger seats and car fittings, the latter recorded the highest rate of increase, namely 27%. All in all, interior components – which include head restraints, arm rests, side trim and integrated child seats – achieved sales of DEM 236.1m. Sales of driver's seats were up 14% to DEM 247.2m, and passenger seats up 22% to DEM 64.3m. Other sales amounted to DEM 18m. Grammer Wackersdorf GmbH, which began in April 1997 with the production of head restraints for BMW's new 3 series, contributed DEM 6m to the sales growth.
One of Grammer's prime strategic goals is greater internationalisation. The Group, which had 17 production and marketing companies in 10 countries at the end of 1997, will be realising a number of international projects in the near future. From mid-1998, Grammer Seating (Xiamen) Ltd., a 95/5 joint venture with a Chinese partner, will begin manufacturing driver's seats for the entire Far Eastern region. A new facility in Coritiba, Brazil, is scheduled to begin supplying car interior components from March 1999 for the VW/Audi models, Golf, Passat and A3, which are manufactured at VW's Brazilian factory. Grammer has also succeeded in winning Opel as a new customer and will be supplying interior components for the Omega from 1999.
READER SERVICE: Press conference speech from Wolfgang Steinbach: PIE-No. 42788 – Grammer Group Annual Report 1997: PIE-No. 42789 (all in German).
31.08.1998 Plasteurope.com [18472]
Published on 31.08.1998