Declining construction activities and the economic crisis have weakened demand. Nevertheless, the Prüm-Garant Group, which is held by Looser Holding, reports continuous growth. In the first half-year of 2009, the company generated net sales of 92.9 million Swiss francs corresponding to a 2.6 percent growth rate after currency adjustments. Thus the Prüm-Garant Group has again been able to gain market share. To secure this excellent market position in the future and to promote further growth, Looser Holding AG will invest 7.2 million Euros in the production plant in Weinsheim, Rheinland-Pfalz.
Increase production volume
The expansion will be necessary as, over the years, the Weinsheim production plant experienced strong organic growth. Production processes will now be improved with the aid of intelligent manufacturing technologies to realize further increase of productivity. Newly created capacities will be utilized to increase the overall production volume. At the same time, delivery periods will be shortened by at least one week from formerly three weeks on the average. Moreover, the stock of finished goods will be reduced to a maximum outreach of 3 weeks.
The Board of Directors and Group Executive Board of Looser Holding AG are convinced that the Prüm-Garant Group’s market position can be further strengthened and expanded with this investment. „We are convinced of the Prüm-Garant Group's positive future prospects“, says Tim Talaat, CEO of Looser Holding. Detlev Schröder, Managing Director of the Prüm-Garant Group, adds: „The further shortening of delivery periods and the benefits thus created for clients as the overall product range is made available more rapidly make as a preferred partner for our customers.“
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Four-year plan for the Weinsheim production plant |
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2008 |
New construction of coatings storage facility and related shelving system |
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2009 |
Relocation of frame production unit |
| 2010 |
Relocation of door production and custom door production units |
| 2011 |
Relocation of veneering unit and facility extension to increase capacities |
About the Prüm-Garant Group
The Prüm-Garant Group is number 2 in the German interior doors market. At its two production plants in Weinsheim (Rheinland-Pfalz) and Ichtershausen (Thüringen), it employs a workforce of approx. 750. Contrary to the market trend, the company’s door sales increased markedly in recent years which was due to strategic competitive advantages, such as fast delivery, reliability and quality. In the fiscal year 2008, the Prüm-Garant Group generated net sales of 193.3 million Swiss francs and thus achieved an internal growth by 3.2 percent in local currencies. The Prüm-Garant Group has been held by Looser Holding AG since 31 May 2007.
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About Looser Holding AG
Looser Holding AG is an international industrial holding company headquartered in Arbon, Switzerland. The corporate Group is active in the Coatings, Industrial Services, Temperature Control and Doors sectors. Around 1,600 employees work for the Group in 22 operational facilities in Europe, Asia and the U.S.A. Looser Holding AG’s registered shares are listed on the SIX Swiss Exchange.
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Finance agenda |
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12 November 2009 |
2009 Q3 results press release |
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February 2010 |
Fiscal year 2009 revenues press release |
| 31 March 2010 |
Media and analysts conference |
| 30 April 2010 |
Annual general meeting |
To the editorial office:
Text and pictures available for downloading at:
www.looserholding.com/medien
For further information please contact:
Tim Talaat, CEO, Chairman of the Group Executive Board
Christoph Fierz, CFO
Telephone: +41 (0) 71 447 20 80
Fax: +41 (0) 71 447 20 81
E-mail: info@looserholding.com
Internet: www.looserholding.com