Winterthur technology
| Winterthur Technologie AG, Zug
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|---|---|
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| legal form | Corporation |
| ISIN | CH0021892606 |
| founding | 1906 |
| resolution | 2011 |
| Reason for dissolution | Takeover by 3M |
| Seat | Zug , Switzerland |
| management | Edgar Rappold ( Chairman of the Board of Directors ) Edmar Allitsch ( CEO ) Reto Braun (Vice-Chairman of the Board of Directors) |
| Number of employees | 1,300 (December 31, 2009) |
| sales | 190 million EUR (2009) |
| Branch | Machine industry |
| Website | www.winterthurtechnology.com |
The Winterthur Technologie Gruppe (WTG) , based in Zug, was a leading international provider of complex grinding technology . The company was taken over by 3M at the end of 2010 .
WTG was a holding company listed on the SIX Swiss Exchange under Swiss law with production facilities in Switzerland, Germany, Austria, Sweden, Belgium, the USA, Russia, China and Korea. At the listed Wendt (India) Ltd. there was a 40 percent participation . The main brands of the group were Winterthur, Wendt, Rappold and SlipNaxos. WTG's products were sold in all relevant markets in Europe, North and South America and Asia.
In the last year before its takeover, the company was able to increase its sales 38.5% to 190 million euros with an EBITDA margin of 17% or 33.9 million euros. The EBIT was EUR 23.3 million and the EBIT margin was 12.2%, compared to 3% in the previous year. The profit amounted to 17.3 million euros compared to 1.5 million francs in the previous year. In terms of profit, the company referred to the amortization of intangible assets in the amount of EUR 4.75 million, this non-cash amortization should underpin the profitability of the group.
Field of activity
Winterthur Technologie developed and produced complex, high- margin consumer goods for grinding technology with a high technological content . The company's main products include grinding wheels in a ceramic material matrix , composite material wheels for cutting , tools made of diamond and cubic boron nitride, and tool grinding machines . These are used in the automotive, turbine, tool and steel industries.
history
In 1906 Walter Bölsterli & Cie was founded in Winterthur on Haldenstrasse by the chemist and businessman Walter Bölsterli. One year the factory was renamed Schweizerische Schmirgelscheibefabrik and production was relocated to Oberer Deutweg. The company also struggled with financial difficulties in its early years and had to modernize its manufacturing process. In the course of this turbulence, the company founder Bölsterli moved to Mexico for fear of bankruptcy in 1912. However, the company was saved by new donors. In the decades to come, the company developed into one of the leading companies in the industry, thanks in part to technical director Ernst Haus .
As part of a modernization, the name of the company was changed to WST Winterthur Schleiftechnik in 1981 and the company was taken over by the Austrian Rappold Group. In 1985 the company set up sales companies in the USA and Germany. In 1994 the production of grinding wheels was outsourced from Winterthur to Villach in Austria and Sweden . Individual customer work such as the adjustment of ceramic discs remained in Winterthur.
In 1999, Rappold Winterthur and the Swedish Slip Naxos Group were bought by Abrasive Technologies Holding AG in Zug, owned by Morgan Grenfell Private Equity and the Rappold family. In 2002 Slip Naxos sold the coated abrasives division to its largest customer Nastroflex. In 2003, Vision Capital took over the Morgan Grenfell portfolio and became the new majority shareholder in Abrasive Technologies Holding. In 2005 the ATH is renamed to its last name Winterthur Technologie . In 2007, Winterthur Technologie took over German competitor Wendt Holding.
2011, the Society of was 3M acquired as part of a public offering and the remaining outstanding registered shares in connection powerless explained. Until recently, Winterthur was the company's management headquarters, but after the takeover by 3M, the former parts of the company gradually left their founding city.
Web links
- WST Winterthurer grinding technology in the Winterthur glossary.
- winterthurtechnology.com ( Memento from March 2, 2011 in the Internet Archive )
Individual evidence
- ^ Bodies of the company. Winterthur Technology, archived from the original on May 25, 2010 ; accessed on February 15, 2017 (English).
- ↑ a b Winterthur Technologie 2010: Sales + 38.5% - EBITDA margin of 17-18% expected . In: Handelszeitung . January 25, 2011 ( handelszeitung.ch [accessed February 15, 2017]).
- ↑ a b 3M takes over Winterthur Technology Group. 3M Switzerland, December 2010, accessed on February 15, 2017 .
- ↑ Winterthur Technologie 2010: net profit EUR 17.3 million (previous year 1.5 million) . In: Handelszeitung . March 11, 2011 ( handelszeitung.ch [accessed February 15, 2017]).
- ^ History. Winterthur Technology, archived from the original on February 25, 2010 ; accessed on February 15, 2017 .
- ^ Cancellation of all publicly held registered shares of Winterthur Technologie AG, Zug. In: presseportal.ch. November 15, 2011, accessed February 15, 2017 .
- ↑ WST Winterthur grinding technology in the Winterthur glossary.