[Gen-AI Analysis] Georg Fischer AG Business Report up until FY ended 2010 - MarkLines Automotive Information & Gen-AI Platform

Georg Fischer AG Business Report up until FY ended 2010

Business Highlights

Recent Years

Contracts

-In January 2010, the Company supplies die-cast aluminium doorframe for the Porsche "Panamera". The Company offers a total of 37 components made of iron, aluminium and magnesium, including the doorframe, for this model. They are manufactured at the plants in Altenmarkt, Austria (bodywork and engine parts); Herzogenburg, Austria (chassis parts); and Werdohl, Germany (gear parts). (From a press release on January 19, 2010)

Restructuring

-In 2009, GE Automotive implemented the key measures of the restructuring plan, including the sale of the aluminium foundry in Gleisdorf (Austria) and the closure of the aluminium plant in Montreal (Canada), which was moved to China. The restructuring of the aluminium foundries in Garching (Germany) and Herzogenburg (Austria) started in 2009 and will last until mid-2010.

Divestitures

-In August 2008, the Company announced to sell all the shares in Georg Fischer Verkehrstechnik GmbH to the SAF-HOLLAND S.A. (Luxemburg). The divestment is part of the efforts of GF Automotive to focus on its core business of automotive casting. Georg Fischer Verkehrstechnik manufactures and sells fifth wheel couplings and Trilex wheels for the commercial vehicle sector. In 2007 it generated sales of approximately CHF 100 million. (From a press release on Aug. 28, 2008)

Awards

-In April 2010, the Company has received "Excellent Supplier Award" from the Chinese carmaker Great Wall Motors for the delivery of engine blocks and oil sumps. (From a press release on April 19, 2010)

-In January 2010, the Company won the award as Supplier of the Year for 2009 in the Casting category from Knorr-Bremse. GF Automotive in Singen, Germany, supplies cast iron brake callipers to the Knorr-Bremse plant in Aldersbach, Germany. (From a press release on January 19, 2010)

R&D

R&D Structure

-The research and development competencies of GF Automotive are concentrated in Schaffhausen (Switzerland) and Suzhou (China).

Technological Alliance

-In May 2006 Georg Fischer Automobilguss GmbH, Schaeffler KG and Knorr-Bremse Systeme fur Nutzfahrzeuge GmbH signed a co-operation agreement for the development, production and sale of wheelends for trucks, trailers and buses in Europe. The companies intend to develop innovative solutions aimed at increasing the operating life, improving the serviceability and reducing the weight of brake discs and wheel bearings.

Investment Activities

Investment in Switzerland

-In November 2008, the Company announced that the new GF Automotive building, with an integrated center for research and development plus facilities for the Corporate Group's management and key staff functions, will be built at a later date. It had been planned to erect a replacement for the Central Laboratory in Muhlental. The new center on the Ebnat was originally scheduled to open in the spring of 2009. (From a press release on Nov 5, 2008)

Investment Outside Switzerland

<China>
-In March 2007, the Company announced to build an iron foundry in Kunshan, China. This modern plant will begin operation in the spring of 2009 and will supply the local automotive industry and globally operating carmakers with safety components. An investment of CHF 50 million is planned for the first construction phase. In May 2009, the new iron foundry in Kunshan started operation and is ramping up production in order to meet the brisk demand.

-In October 2005, the Company announced that its new light metal foundry in Suzhou was officially inaugurated. The plant began operations in mid-August, and the number of machinery is being gradually expanded. The overall plan calls for expansion to reach a maximum of four buildings with about 24 casting machines. Its customer base includes, in addition to several European companies, two emerging Chinese automotive manufacturers, Cherry (headquartered in Wuhu, Anhui province) and Great Wall Motors (headquartered in Baoding, Hebei province). Both these companies are now ready to take on the North American market with new models, for which Georg Fischer will supply the engine blocks and aluminum die cast parts.