Business Overview
-The Company again showed a strong performance in 2008, continuing its growth of recent decades. Thanks to the acquisition of Continental AG's electric motors division, it posted a significant increase in its global turnover. Revenues came to 2.8 billion euros, a gain of 13%. This figure includes some 450 million euros in sales from the Drives division.


Domestic Developments (Germany)
-After merging the two large business divisions of window regulators and door systems into one organizational unit Door Systems at the beginning of 2007, all the development and sales activities are also to be consolidated in Hallstadt by the middle of 2007: Approx. 70 percent of its worldwide business is coordinated from Hallstadt. The Company produces door systems and window regulators for more than 40 automobile brands at more than 30 locations. To create the capacities required for processing customer projects, it was necessary to build an additional building for testing and engineering with an investment of more than 5 million euros. Completion is targeted for the end of July, 2007. (From a press release on June 19, 2007)

-On 16 July 2007, the JIS plant in Gewerbepark Sol/Weil in Weil im Schonbuch was officially opened.

-In keeping with the expansion of its door system business, the Company is extending its production capacities: at the end of 2007, the Company's production facility in Gifhorn will go operational.


Recent Developments outside Germany
-The Company has announced that it will be consolidating several door and latch module production programs into its newest plant in Warren, Michigan. (From a press release on Nov 19, 2008)


Acquisitions
-In Dec. 2007, the Company announced that it is to acquire Continental AG's electric motor operations, the sale being agreed by the two companies on December 20, 2007. The transaction comprises the business with electric motors for window regulators, antilock brake systems (ABS/ESC), heating/ventilation, engine cooling and electric power steering. The activities of the Electric Motor Drives business unit in Wurzburg and Berlin, as well as the development office in Nuremberg and the location in Oldenburg will be transferred to the Company. Hybrid activities, which are also located in Berlin, shall not be affected by this transaction. In addition, six plants in La Suze/France, Gainesville/U.S.A., Reynosa/Mexico, as well as in Shanghai, Zhangjiagang and Changchun (all in China) shall be included in the acquisition. (From a press release on Dec. 20, 2007)

R&D History

Year	Innovation
1928	Manual window regulator
1950	Mechanical door latch
1963	Power window regulator
1979	Power seat Adjuster
1983	Electronic memory system for seat position
1986	Electronically-controlled window regulator with anti-trap technology
1987	First modular system
1991	Door system with wet/dry side separation
1993	Active manual seat height adjuster
1997	System latch
2000	Seat length adjuster with slide-integrated gear
2001	Laser technology for rails and backframes
2002	Door system with integrated door frame
2002	Lumbar support with comfort mat and massage function
2004	Power rear bench
2005	Modular liftgate with integrated drive
2005	System kit for recliners
2006	Door system with highly integrated plastic carrier
2007	Drive units for side doors

Capital Expenditures

(in million Euros)	FY2008	FY2007	FY2006
Turnover	253	113	123

Domestic Investment
-The Company location in Hallstadt near Bamberg is gaining increasingly in importance for the international corporate group. After merging the two large business divisions of window regulators and door systems into one organizational unit Door Systems at the beginning of 2007, all the development and sales activities are also to be consolidated in Hallstadt by the middle of 2007: Approx. 70 percent of its worldwide business is coordinated from Hallstadt. The Company produces door systems and window regulators for more than 40 automobile brands at more than 30 locations. To create the capacities required for processing customer projects, it was necessary to build an additional building for testing and engineering with an investment of more than 5 million euros. Completion is targeted for the end of July, 2007. (From a press release on June 19, 2007)

-The Company has, by establishing its new just-in-sequence production facility at Gewerbepark Sol/Weil in Weil im Schonbuch, moved even closer to the Mercedes plant in Sindelfingen: On 16 July 2007, the JIS plant was officially opened. Before the new plant was built, the door systems for DaimlerChrysler were made in a rented building in Herrenberg; the Company had been supplying them from there to the nearby Mercedes plant since 2005. In addition to the production facilities for the door systems of the S Class, four new assembly lines were installed for making the C Class door systems. With the establishment of the Company production facility near the Mercedes plant in Sindelfingen, JIS production of the highest standard has been successfully set up and Mercedes is now able to benefit from further cost advantages. (From a press release on July 18, 2007)

-In keeping with the expansion of its door system business, the Company is extending its production capacities: at the end of 2007, the international automotive supplier's production facility in Gifhorn will go operational, supplying door systems to the Volkswagen plant in Wolfsburg. Some 60 new jobs will be created when production starts at the facility. Quality assurance measures, such as the Poka-Yoke system, in the production process ensure a stable product quality level. The requested variant of each door system is supplied in line with the automaker's own vehicle assembly schedule to the Volkwagen plant in Wolfsburg 20 kilometers away. (From a press release on Oct. 19, 2007)