Hoftex Group
| HOFTEX GROUP AG
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | DE0006760002 |
| founding | 1869 |
| Seat |
Hof (Saale) , Germany
|
| management | Klaus Steger, Robert Seibold (Board of Directors) |
| Number of employees | 1,197 |
| sales | 174 million euros (2018) |
| Branch | Textile industry |
| Website | www.hoftexgroup.com |
| As of December 31, 2018 | |
The Hoftex Group AG until 2012 textile group Hof AG ( TGH ) is a publicly traded holding company in the textile industry based in Hof (Saale) . The group produces yarns and threads for almost all areas of application, yarns and threads in the technical and clothing sector, nonwovens for the automotive and cable industry and creative decorative fabrics, ready-made goods and textile sun protection solutions, technical nonwovens and clothing nonwovens as well as decoration fabrics .
The shares are traded in the open market segment m: access on the Munich Stock Exchange. The majority of the capital (84%) is held by ERWO Holding , a family-run textile group to which Südwolle also belongs.
history
In the city of Hof, textile production was already widespread in the late Middle Ages. With the advancement of technology, textile companies could quickly be founded with the help of the invention of the steam engine. Some of these companies later merged to form the Hof textile group. The textile group traditionally limited itself to the basic level of production (for example spinning, weaving, dyeing). The textile industry, in particular the Hof textile group, was an important factor in the economic upswing in the Hof region. However, the globalization of the markets, especially the dominant position of China in the textile industry, led to a deterioration in the competitive situation of German textile manufacturers. Since the economy in Hof was essentially shaped by the textile industry, the increased competitive situation led to a relocation of the local textile industry abroad or to job cuts and bankruptcies.
The following chronicle of the textile group Hof shows an example of how Hof developed into a textile city.
- In 1869 the "New Cotton Spinning Mill" was founded and the merger with the "Mechanical Weaving" to form the "New Cotton Spinning and Weaving Mill"
- In 1931 Süddeutsche Webstoff GmbH was taken over, from which today's subsidiary eswegee Vliesstoff GmbH emerged.
- 1950–1960 the production facilities in Nördlingen and Moschendorf were established.
- In 1963, with the purchase of the "Neue Textil-Gesellschaft Münchberg mbH", production was expanded to include a decorative fabric weaving mill with dyeing and finishing.
- In 1969 the group acquired a stake in the "Vogtland Cotton Spinning Mill" group.
- 1973–1977 further companies were incorporated: Spinning mill Hermann Ebenauer & Co. and bleaching, dyeing and finishing company Uhingen AG ( liquidated in 2000 ).
- In 1994 the share in the Vogtland cotton spinning mill Hof AG was increased to around 93%.
- In 1996, the company was restructured into a holding company with the “New Cotton Spinning Mill and Web Milling Company” as the parent company.
- In April 1997, the main shareholders at the time, Bayerische Vereinsbank and Bayerische Hypotheken- und Wechselbank, sold their shares to Südwolle AG Nürnberg (which in turn is held by ERWO Holding AG).
- In 1999 the Hof textile group sold its majority stake in Vogtland Cotton Spinnerei AG, which had previously acted as an intermediate holding company. The operational business was previously transferred to other group companies.
- In 2003 the Nördlingen spinning mill was closed and Van Delden GmbH was sold.
- In 2005–2007 the Hof textile group acquired several companies (SC Textor SA, Romania; SBS CoreTech GmbH, Max Süß GmbH), took a stake in an Indian nonwovens manufacturer and set up a new production facility in Reichenbach / Saxony.
- In July 2012, the general meeting of shareholders almost unanimously decided to rename the AG.
- 2013 Construction of a new production facility in China.
- 2014 Construction of a new production facility in Reichenbach / Germany.
- 2017 Sale of Hoftex Max Süss GmbH
- 2018 Sale of Supreme Nonwoven Industries Pvt. Ltd. to the Indian co-shareholders
Business areas
The group is divided into the business areas yarns & fabrics , non wovens and home deco. These business areas are divided into the following companies:
- yarns & fabrics: "Hoftex GmbH", "Hoftex Färberei GmbH", "Hoftex CoreTech GmbH"
- non wovens: "Tenowo GmbH", "Tenowo Hof GmbH", "Tenowo Reichenbach GmbH", "Tenowo Mittweida GmbH", "Tenowo Inc", "Tenowo Huzhou New Materials Co. Ltd."
- home deco: Neutex Home Deco GmbH, SC Textor SA
Locations
The headquarters in Hof is at the same time the most important and largest production location of the group. Further locations are in Selbitz , Münchberg , Mittweida , Venusberg (Drebach) , Reichenbach in Vogtland and internationally in Târgu Mureș (Romania), Lincoln, North Carolina (USA) and Huzhou (China).
Web links
Individual evidence
- ↑ a b INVESTOR RELATIONS. Retrieved October 14, 2019 .
- ↑ Textilwirtschaft: Textilgruppe Hof becomes Hoftex Group ( Memento from September 24, 2015 in the Internet Archive ), July 10, 2012 (accessed: August 24, 2013)
- ↑ Bleaching, dyeing and finishing plant Uhingen GmbH iL, Uhingen - company information. Retrieved October 14, 2019 .
Coordinates: 50 ° 19 ′ 6.6 ″ N , 11 ° 55 ′ 18.1 ″ E