Leopold Kostal GmbH & Co. KG Business Report FY ended Dec. 2016
Recent Years
Financial Overview |
(in million EUR) |
| FY ended Dec. 31, 2016 | FY ended Dec. 31, 2015 | Rate of change (%) |
|
| Sales | 2,366 | 2,358 | 0.3 |
Developments outside Germany
-In 2008, the Company established a joint venture with NTTF in India.
-The Company established Kostal of Ukraine in 2007.
-In March 2007, the Company's North American subsidiary, Kostal North America, announced that it will relocate its Novi, Michigan, operations to Troy, Michigan, investing approximately USD 13.6 million and creating 203 new high-technology positions. The expansion will also enable its Michigan facility to become one of three new international research and development centers. (From a press release on March 15, 2007)
-In 2006, the Company opened its first office in Korea. This is its third location in Asia after its location in Japan, established in 1992, and its location in China in 1995.
Contracts
-In September 2016, the Company hosted a tech show for the Ford Motor Company at the automaker’s headquarters in Dearborn, Michigan. At the tech show, the Company displayed its steering column module for Ford’s CD6-platform vehicles, the first steering column module that the Company has supplied for Ford in the U.S. (From a press release on November 11, 2016)
R&D Expenditure
-The Company’s aims to have 8% of its sales turnover invested in research and development. In 2016, this amounted to approximately EUR 189 million.
Investments outside Germany
-On October 10, 2016, the Company’s subsidiary in Macedonia, known as Kostal Macedonia, officially began production in its recently renovated premises. The plant spans an area of approximately 6,000 square meters. Kostal Macedonia has a workforce of 48 employees and plans to increase this number to 100 employees by the end of 2016. (From a press release on November 7, 2016)
-Ten years after the foundation of Kostal of Czech, the Company established its plant in Zdice in 2003.