MANN & HUMMEL
1994 rising sales and improving results / Further internationalization
For the current business year, all domestic and foreign corporations belonging to the Mann + Hummel Group – HQ: Filterwerk Mann + Hummel GmbH (D-71631 Ludwigsburg) – expect rising sales. According to Winfried Witte, executive vice-president, the group of companies which is one of the leading manufacturers of filters of all kinds, as well as of technical plastics parts for the automobile industry and of industrial filters and materials processing plants for the plastics industry, believe that the external group turnover will increase by about 7% compared to 1993. After the first half of the year 1994, the near future can be regarded more confidently than at the beginning of the year. Incoming orders, since April, increased at a surprisingly brisk level.
In 1993, external group turnover went down by 8.8% to DM 1.095bn (1.2). The results achieved from the regular business activities fell to DM 18.2m (29.7). The automobile industry, with a share of 77%, remained the major contributor to sales, the remaining 23% was contributed by the industrial technology sector.
"Although a clear improvement in the group's results is estimated to take place during the current business year, it is not expected that satisfactory annual results will be achieved", Witte stated in a discussion with press representatives. By the formation of the Mann + Hummel Holding GmbH and the parallel integration of all Mann + Hummel activities, directly or indirectly related to the filter plant, the basis of the successful development of the group has been created with respect to company law. It is therefore possible for other companies to participate in the holding company.
It is intended to further promote the group's internationalization process. By the acquisition of Universal Dynamics Inc (Una-Dyn, Woodbridge, VA, USA), the second largest American manufacturer of plastic materials processing, Mann + Hummel supports the sector of industrial technology and creates a bridgehead in the overall American market. The company is pleased with the performance of its foreign subsidiaries, among them the Mexican enterprise Filtros Mann SA de CV, supplier of VW Mexico, and the Czech company Jihoceské Papriny AS (JIPAP). Both of them are joint ventures with Mann + Hummel having a controlling majority interest. The incorporation of Mann + Hummel plc Ltd in Singapore serves to directly intensify its distribution activities in the Asian markets.
Despite the extension of its international activities, Mann + Hummel, however, do not want to neglect its German production plants. Mann + Hummel Kunststofftechnik GmbH (MHK, Friedrich-Engels-Str. 157, D-96515 Sonneberg), its German subsidiary located in Thüringen, should continue to represent a priority for capital expenditure. With investments amounting to DM 44m, the first stage of the extensions carried out in this plant have, for the present, been completed. The business line of materials processing, together with Somos GmbH (PO Box 1154, D-64320 Weiterstadt), acquired on 1st January 1993, has opened a sales office for Central Germany (PO Box 1130, D-64320 Weiterstadt) which will serve customers in the sales areas of the Saarland, Hessen and Rheinhessen.
READER SERVICE: Mann + Hummel Annual Report 1993 (German): PIE-No. 36577.
In 1993, external group turnover went down by 8.8% to DM 1.095bn (1.2). The results achieved from the regular business activities fell to DM 18.2m (29.7). The automobile industry, with a share of 77%, remained the major contributor to sales, the remaining 23% was contributed by the industrial technology sector.
"Although a clear improvement in the group's results is estimated to take place during the current business year, it is not expected that satisfactory annual results will be achieved", Witte stated in a discussion with press representatives. By the formation of the Mann + Hummel Holding GmbH and the parallel integration of all Mann + Hummel activities, directly or indirectly related to the filter plant, the basis of the successful development of the group has been created with respect to company law. It is therefore possible for other companies to participate in the holding company.
It is intended to further promote the group's internationalization process. By the acquisition of Universal Dynamics Inc (Una-Dyn, Woodbridge, VA, USA), the second largest American manufacturer of plastic materials processing, Mann + Hummel supports the sector of industrial technology and creates a bridgehead in the overall American market. The company is pleased with the performance of its foreign subsidiaries, among them the Mexican enterprise Filtros Mann SA de CV, supplier of VW Mexico, and the Czech company Jihoceské Papriny AS (JIPAP). Both of them are joint ventures with Mann + Hummel having a controlling majority interest. The incorporation of Mann + Hummel plc Ltd in Singapore serves to directly intensify its distribution activities in the Asian markets.
Despite the extension of its international activities, Mann + Hummel, however, do not want to neglect its German production plants. Mann + Hummel Kunststofftechnik GmbH (MHK, Friedrich-Engels-Str. 157, D-96515 Sonneberg), its German subsidiary located in Thüringen, should continue to represent a priority for capital expenditure. With investments amounting to DM 44m, the first stage of the extensions carried out in this plant have, for the present, been completed. The business line of materials processing, together with Somos GmbH (PO Box 1154, D-64320 Weiterstadt), acquired on 1st January 1993, has opened a sales office for Central Germany (PO Box 1130, D-64320 Weiterstadt) which will serve customers in the sales areas of the Saarland, Hessen and Rheinhessen.
READER SERVICE: Mann + Hummel Annual Report 1993 (German): PIE-No. 36577.
31.10.1994 Plasteurope.com [21130]
Published on 31.10.1994