News
Visiocorp plc sells Sound GmbH |
• Concentration on core business continued according to plan
• Current managing director taking over Esslinger company
• New company name: Marlok Automotive GmbH
• Message of confidence in the location and a good outlook
Portchester, July 23rd 2008. Visiocorp plc, the world’s leading manufacturer of rear-view mirror systems for the automotive industry, has taken another step in its strict adherence to its consolidation strategy, which is still running just as planned. Continuing to concentrate on its core business, the company has sold the company previously named Visiocorp Sound GmbH, in Esslingen, near Stuttgart (Germany), to its current managing director, Siegfried Marlok, in the form of a management buyout. With its workforce of 110 employees, the company has been producing high value sound systems for a well-known supplier (tier 1) since 1990 and as of 2005 roof modules for premium cars of leading automobile companies. In 2007 the Visiocorp Sound GmbH made a turnover of 24 million Euros. In future, it will be trading under the new name Marlok Automotive GmbH.
Visiocorp plc, based in Portchester, UK, was created in 2007 from the former Schefenacker AG and the Engelmann Group, and has nineteen factories across the world. Once negotiations are completed, it will be passing on this Esslingen section of the company to the Marlok Automotive GmbH, which is 100% owned by Siegfried Marlok. After 20 years of experience in the automobile supplier industry, Marlok has been managing the GmbH (limited company) for 15 months and will now become the sole owner. Visiocorp CEO Ulrich Bruhnke explained the decision: “We chose Siegfried Marlok’s business model from among those of several interested parties, as on the one hand it ensures that Visiocorp gets a sales price to match its value, and on the other hand, it is a clear message of confidence in the location and a sign of commitment to the redevelopment scheme collective agreement, which does not allow layoffs for operational reasons until 2010. This means the future of the company and the employees is safe‿.
This course is also welcomed both by the employees and by the customers of the former Visiocorp Sound GmbH, for whom the company last year produced 270,000 high-quality sound systems with 1,800,000 integrated loudspeakers and 60,000 roof modules.
Siegfried Marlok, now the sole shareholder, asserted: “Our customers have reacted very positively to our business model of continuing to produce the sound systems and roof modules in Germany, and have undertaken to place further orders on this basis.
Thus, Visiocorp plc has completed another important step in its corporate re-orientation, according to plan. As well as continuing to restructure the factories, which are now al-most all getting positive results again, the global market leader’s other main strategic fo-cuses are on providing high-quality rear-view mirrors with an excellent price/value ratio, developing innovative camera-based rear-view mirror systems to support the driver, and extending production internationally in line with current developments in the global automotive industry.