8/28/2015 12:01:00 AM
NEWS BRIEFS
Würth Group Nears Double-Digit Growth
Germany-based Würth Group reported sales rose 8.7% to EUR 5.46 billion in the first six months of 2015. Earnings were flat, hurt by appreciation in the Swiss franc.
“Würth’s development is positive, which is not only due to the good economic development in relevant fields of our business activities,” stated Robert Friedmann, Chairman of the Central Managing Board of Würth. “We also focused on expanding forward-looking business units such as e-business.”
The number of employees increased 2.6% to 67,779, including 30,686 sales reps, in the first half of 2015.
In July Würth acquired Frankfort, NY-based Northern Safety Co., Inc., which generated sales of $190 million in 2014 and has 472 employees. Northern Safety specializes in the sale of personal protective equipment and mainly supplies industrial businesses.
During the first half of 2015, one Würth business, Adolf Würth GmbH & Co. KG, has acquired 51% of Paravan GmbH based in Pfronstetten-Aichelau, Germany. The company, which has sales of EUR 20 million and employs 140 workers, customizes vehicles for people with a physical disability, and specializes in the drive-by-wire concept.
“For Würth, the future cooperation and the technology of Paravan offer great potential on the global market for fully autonomous driving systems,” Würth Group stated.
The companies want to jointly boost the international marketing activities of the first drive-by-wire system with a permit for road traffic, “Space Drive.”
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