Schefenacker AG Business Report FY2006
Business Highlights
Restructuring Program
-In late 2004, the Company launched a restructuring program called "Transition". This program focuses on all of its facilities in Germany, Selmer (USA), SAPU (Hungary), and SGA (Slovenia) This program has five key areas: location, purchase and logistics, new product introduction, organization, and transparency.
-Schefenacker is preparing for an improved competitive position by the relocation of the lighting production from the Geislingen plant to new sites and the optimization of the production in the Schwaikheim plant. The closure of the Geislingen plant is one of the measures of a restructuring programme which started last year. The company wants to realize the important savings potential resulting from relocating capacity within Germany, the closing the Geislingen plant, and implementing further optimization measures in the remaining plants. This includes staff cuts of 580 people, whereof 390 are permanent employees.
Acquisition
In June 2006, Schefenacker-Rngelmann Spiegel GmbH acquired both the assets of the German operative business of the Engelmann Group, which had applied for an insolvency proceeding in 2004, and the shares of its not insolvent subsidiaries in Spain and Mexico. The Engelmann-Group is a manufacturer and supplier of interior and exterior mirrors as well as fuel filler flaps for OEMs.
-In late 2004, the Company launched a restructuring program called "Transition". This program focuses on all of its facilities in Germany, Selmer (USA), SAPU (Hungary), and SGA (Slovenia) This program has five key areas: location, purchase and logistics, new product introduction, organization, and transparency.
-Schefenacker is preparing for an improved competitive position by the relocation of the lighting production from the Geislingen plant to new sites and the optimization of the production in the Schwaikheim plant. The closure of the Geislingen plant is one of the measures of a restructuring programme which started last year. The company wants to realize the important savings potential resulting from relocating capacity within Germany, the closing the Geislingen plant, and implementing further optimization measures in the remaining plants. This includes staff cuts of 580 people, whereof 390 are permanent employees.
Acquisition
In June 2006, Schefenacker-Rngelmann Spiegel GmbH acquired both the assets of the German operative business of the Engelmann Group, which had applied for an insolvency proceeding in 2004, and the shares of its not insolvent subsidiaries in Spain and Mexico. The Engelmann-Group is a manufacturer and supplier of interior and exterior mirrors as well as fuel filler flaps for OEMs.
R&D
R&D Expenditure
| in million Euros | FY2006 | FY2005 | FY2004 | FY2003 | FY2002 |
| R&D Expenditure | N.A. | 35.9 | 37.0 | 39.6 | 51.0 |