DGAP-Media: Schweizer Electronic AG appointed 'Turnarounder of the Year 2010'
29.10.2010
Schweizer Electronic AG / Key word(s): Enterprise
29.10.2010 10:57
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Rising like a Phoenix -
Schweizer Electronic AG appointed 'Turnarounder of the Year 2010'
Schramberg, October 28, 2010 - During a festive ceremony yesterday in
Bertelsmann's Berlin based representative office Schweizer Electronic AG's
CEO, Dr. Marc Schweizer received the award 'Turnarounder of the Year 2010'.
Schweizer Electronic AG was nominated in the category companies with up to
1,000 employees as they succeeded in being back in the black after a
perennial crisis. Literally rising like a phoenix the company was
consequently resurrected based on an adjusted strategy, after a fire in
2005 burnt down a big part of the production areas. The years of
reconstruction were marked by severe cuts: the close-down of a second
manufacturing site, the reduction of workforce by a one-fifth, the
optimization of business and production processes and the termination of
unprofitable business areas. The economic crisis hit the company in the
middle of the restructuring process, leading to a loss of six million Euro
in the first half of 2009. The turnaround eventually began to show at the
end of last year, supported by a consistent implementation of the company
strategy, a close cooperation with banks and the foundation of a partner
network.
'I accept this award on behalf of our employees', says Dr. Marc Schweizer.
'We express a big 'Thank You' as this prize is a result of their
engagement, creativity and loyalty, particularly during the years of
crises. Economic success can only be achieved if everyone contributes to it
and our staff proved this in an impressive way. Given our improved economic
situation, we will ultimately be able to reward our workforce. Our
appreciation also includes our customers, suppliers, banks and partners for
their long-term loyalty and successful cooperation.'
Together with his fellow board members Marc Bunz (CFO) and Bernd Schweizer
(COO) Dr. Marc Schweizer is currently planning further strategic steps
within the company's core business printed circuit boards (PCB), but also
towards diversification and optimization of the value chain. Corresponding
decisions and measures are expected to being taken within the coming
quarters.
The award 'Turnarounder of the Year' is granted by auditing company BDO and
the business magazine ,impulse' and honours the performance of German
companies whose management and staff succeeded in maintaining company and
jobs despite a difficult economic situation. The prize is awarded in three
company size categories, i.e. up to 500, up to 1,000 and more than 1,000
employees.
In July Schweizer Electronic AG reported in their mid-year financial report
a significant increase in revenues by 80% and is expecting a turnover of
about 90 to 100 million Euro for 2010. This successful growth is also based
on a cooperation with their partner Meiko Electronics. Within the last two
years the company's share price increased from 2 Euro to a current price of
around 26 Euro.
About Schweizer Electronic AG:
Schweizer Electronic AG (WKN 515623) is one of the Top 3 PCB manufacturers
in Europe with recognized technology and consulting expertise in the field
of automobile, solar and industrial electronics. The company was
established in 1849 and is currently managed by the sixth generation of the
family.
Schweizer Electronic is focused on complex multilayer and HDI circuits as
well as solutions for reducing the system cost and improving the
integration of active and passive components on the PC board. In addition,
Schweizer Electronic has many answers to the challenges of modern power
electronics. With its network of partners, Schweizer Electronic AG offers
optimal cost and manufacturing solutions for small, medium and large
series.
For further information please contact
Susanne Schorn
Media & Communications
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Telefon: 07422 / 512-213
Telefax: 07422 / 512-397
E-mail: Communications@schweizerelectronic.ag
29.10.2010 Dissemination of a Press Release, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Deutschland
Internet: www.schweizerelectronic.ag
End of Announcement DGAP-Media
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Schweizer Electronic AG / Key word(s): Enterprise
29.10.2010 10:57
=--------------------------------------------------------------------------
Rising like a Phoenix -
Schweizer Electronic AG appointed 'Turnarounder of the Year 2010'
Schramberg, October 28, 2010 - During a festive ceremony yesterday in
Bertelsmann's Berlin based representative office Schweizer Electronic AG's
CEO, Dr. Marc Schweizer received the award 'Turnarounder of the Year 2010'.
Schweizer Electronic AG was nominated in the category companies with up to
1,000 employees as they succeeded in being back in the black after a
perennial crisis. Literally rising like a phoenix the company was
consequently resurrected based on an adjusted strategy, after a fire in
2005 burnt down a big part of the production areas. The years of
reconstruction were marked by severe cuts: the close-down of a second
manufacturing site, the reduction of workforce by a one-fifth, the
optimization of business and production processes and the termination of
unprofitable business areas. The economic crisis hit the company in the
middle of the restructuring process, leading to a loss of six million Euro
in the first half of 2009. The turnaround eventually began to show at the
end of last year, supported by a consistent implementation of the company
strategy, a close cooperation with banks and the foundation of a partner
network.
'I accept this award on behalf of our employees', says Dr. Marc Schweizer.
'We express a big 'Thank You' as this prize is a result of their
engagement, creativity and loyalty, particularly during the years of
crises. Economic success can only be achieved if everyone contributes to it
and our staff proved this in an impressive way. Given our improved economic
situation, we will ultimately be able to reward our workforce. Our
appreciation also includes our customers, suppliers, banks and partners for
their long-term loyalty and successful cooperation.'
Together with his fellow board members Marc Bunz (CFO) and Bernd Schweizer
(COO) Dr. Marc Schweizer is currently planning further strategic steps
within the company's core business printed circuit boards (PCB), but also
towards diversification and optimization of the value chain. Corresponding
decisions and measures are expected to being taken within the coming
quarters.
The award 'Turnarounder of the Year' is granted by auditing company BDO and
the business magazine ,impulse' and honours the performance of German
companies whose management and staff succeeded in maintaining company and
jobs despite a difficult economic situation. The prize is awarded in three
company size categories, i.e. up to 500, up to 1,000 and more than 1,000
employees.
In July Schweizer Electronic AG reported in their mid-year financial report
a significant increase in revenues by 80% and is expecting a turnover of
about 90 to 100 million Euro for 2010. This successful growth is also based
on a cooperation with their partner Meiko Electronics. Within the last two
years the company's share price increased from 2 Euro to a current price of
around 26 Euro.
About Schweizer Electronic AG:
Schweizer Electronic AG (WKN 515623) is one of the Top 3 PCB manufacturers
in Europe with recognized technology and consulting expertise in the field
of automobile, solar and industrial electronics. The company was
established in 1849 and is currently managed by the sixth generation of the
family.
Schweizer Electronic is focused on complex multilayer and HDI circuits as
well as solutions for reducing the system cost and improving the
integration of active and passive components on the PC board. In addition,
Schweizer Electronic has many answers to the challenges of modern power
electronics. With its network of partners, Schweizer Electronic AG offers
optimal cost and manufacturing solutions for small, medium and large
series.
For further information please contact
Susanne Schorn
Media & Communications
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Telefon: 07422 / 512-213
Telefax: 07422 / 512-397
E-mail: Communications@schweizerelectronic.ag
29.10.2010 Dissemination of a Press Release, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Deutschland
Internet: www.schweizerelectronic.ag
End of Announcement DGAP-Media
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