DGAP-News: Wacker Neuson SE: Three years on, Wacker Neuson confirms merger success
(firmenpresse) - Wacker Neuson SE / Key word(s): Miscellaneous
02.11.2010 16:33
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Three years on, Wacker Neuson confirms merger success
World's largest offering of light and compact equipment - upturn brings
market share gains - important milestones reached.
(Munich, November 2, 2010) The three-year anniversary of the Wacker Neuson
merger provides proof of concept, with the Group's strategy of becoming a
one-stop provider of light and compact equipment emerging a clear success.
Taking stock of the last three years, the Group reports positive progress,
having reached key milestones defined during the merger and firmly placing
itself on the road to further growth.
Merger arises from shared vision of growth
Three years ago, on October 31, 2007, the company announced that the merger
between the former Wacker Construction Equipment AG, Munich, Germany, and
the former Neuson Kramer Baumaschinen AG, Linz, Austria was complete. In
February 2009, it changed its legal form to a European company and has been
trading under the name Wacker Neuson SE ever since.
The two companies behind the merger shared the same strong roots. Both were
traditional, family-owned businesses managed with a high degree of
flexibility and a strong sense of cost awareness. And both companies were
committed to the highest standards of technology and quality, resulting in
respective portfolios of market-leading products. The merger was inspired
by the joint vision of securing further growth through sales synergies. And
Wacker Neuson has used its existing global sales and distribution network
for light equipment to launch compact equipment in new markets, resulting
in one of the world's broadest light and compact equipment portfolio,
flanked by an extensive service offering.
Promoting team spirit and cost synergies
The Group focuses on actively merging the two corporate cultures and
creating a unified corporate identity. Group-wide deployment of SAP
software is a key step in this move as it will further integrate business
processes.
Since 2007, the Group has made significant progress and achieved many key
milestones:
* High levels of customer acceptance
Customers highly rate the Group's ability to provide light and compact
equipment along with rentals and service from a single source. In
Switzerland, for example, this approach saw Wacker Neuson increase revenue
in 2009 by ten percent although the industry as a whole experienced growth
of just one percent. The benefits of these synergies were also evident at
this year's bauma trade fair in Munich, where Wacker Neuson showcased its
new product portfolio for the first time. Order intake was 25 percent up on
bauma 2007, when both companies had separate stands.
* Launch of compact equipment in further markets
Since the merger, the company has used the former Wacker Group's sales and
distribution network to introduce compact equipment from its production
facilities in Linz (Austria) and Pfullendorf (Germany) to markets in North
and South America, South Africa, the Middle East and several countries in
the EU. The most strategic target market here is the US, where the Group's
compact equipment portfolio was previously largely unknown. The positive
mid-term outlook for Wacker Neuson in the US is a strong sign that the
Group will be able to build on its strong position in the light equipment
sector and also become one of the leading providers of compact equipment
here. The Group is planning further launches in countries, e.g. Russia,
once the economy picks up. The 20-year strategic partnership that Wacker
Neuson concluded with Caterpillar in June will generate additional revenue
in the compact equipment segment. Caterpillar's core business is heavy
equipment. The agreement will see Wacker Neuson designing and producing
mini excavators weighing up to three tons for the company. These machines
will then be distributed under the Caterpillar brand via Caterpillar's
global sales network.
* Expansion of product portfolio for the agricultural sector
The agricultural market worldwide also offers attractive long-term growth
prospects for the Group. Increasing reliance on technology and machinery in
agricultural holdings is fueling demand for particularly versatile compact
equipment. To maximize this opportunity, Wacker Neuson is gradually
expanding the Weidemann range (compact equipment for the agricultural
industry) to include proven machines from our construction industry
portfolio (platform concept).
* Expansion and modernization of production capacity
To create capacity for further growth, Wacker Neuson built four production
plants over the space of three years. The new facilities were constructed
at the Korbach (Weidemann) and Pfullendorf (Kramer Allrad) facilities in
Germany as well as at Norton Shores in the US and Manila in the Philippines
(both light equipment). A further new facility is planned for Linz,
Austria. All of the Group's production lines then have extensive capacity
and are equipped with cutting-edge technology plus the latest developments
in sustainable production.
* Stronger joint position as economy recovers
As was the case among all industry peers, Wacker Neuson experienced a
dramatic drop in revenue, especially in 2009. However, the company has
already returned to a growth path in 2010 and is leveraging the strengths
of the merger to outpace the market.
Further international expansion planned for the future
The Wacker Neuson Group is in a strong financial position. It is a
growth-oriented, highly innovative company that is determined to outgrow
the market by sticking to its strategic goals. The company intends to gain
new market share, open up new markets and reap the benefits of its
intelligent platform concepts across the construction and agricultural
sectors.
Your contact partner at Wacker Neuson:
Wacker Neuson SE
Katrin Neuffer
Preussenstr. 41
80809 Munich, Germany
Tel. +49 - (0)89 - 354 02 - 173
katrin.neuffer(at)wackerneuson.com
Internet: www.wackerneuson.com
About Wacker Neuson
Wacker Neuson SE is a global manufacturer of light and compact equipment.
With over 30 affiliates and more than 180 sales and service stations across
the globe, the company offers an exceptionally broad product portfolio.
Manufacturing activities are distributed across three German, one Austrian,
two American and one Philippine production sites. Almost all products
manufactured by the company are branded Wacker Neuson. The only exceptions
to this in Europe are Kramer Allrad products and Weidemann-branded
agricultural machinery. With over 300 product categories and complementary
rental, spare parts and repair services, Wacker Neuson is the partner of
choice among professional users in construction, gardening, landscaping and
agriculture, as well as among municipal bodies and companies in the
industrial and recycling sectors.
02.11.2010 16:33 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Wacker Neuson SE
Preußenstr. 41
80809 München
Deutschland
Phone: +49 - (0)89 - 354 02 - 0
Fax: +49 - (0)89 - 354 02 - 390
E-mail: info(at)wackerneuson.com
Internet: www.wackerneuson.com
ISIN: DE000WACK012
WKN: WACK01
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Hannover, Stuttgart
End of Announcement DGAP News-Service
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Datum: 02.11.2010 - 16:33 Uhr
Sprache: Deutsch
News-ID 32468
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Kategorie:
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