| Revision as of 22:51, 13 August 2013 editDthomsen8 (talk | contribs)Autopatrolled, Extended confirmed users, Pending changes reviewers, Rollbackers498,600 editsm clean up, typos fixed: involvment → involvement using AWB← Previous edit | Revision as of 14:52, 27 September 2013 edit undo78.187.50.147 (talk) →2010-present: Recent HistoryTag: Automatic insertion of extraneous formattingNext edit → | ||
| Line 61: | Line 61: | ||
| The company’s sales and profit figures had been stagnating for years, leading to a programme of savings as of 2005. Around 500 production jobs were cut at sites in Germany and the Herzberg factory was closed; the sites in ] and ] were expanded considerably. Through to 2008, investments totalling 130 million Euros were made in Germany in the area of production technology and logistics. | The company’s sales and profit figures had been stagnating for years, leading to a programme of savings as of 2005. Around 500 production jobs were cut at sites in Germany and the Herzberg factory was closed; the sites in ] and ] were expanded considerably. Through to 2008, investments totalling 130 million Euros were made in Germany in the area of production technology and logistics. | ||
| <span class="notranslate" onmouseover="_tipon(this)" onmouseout="_tipoff()"><span class="google-src-text" style="direction: ltr; text-align: left">=== 2010-present: Recent History === ] In 2012, Grohe AG's ]s increased by 21 percent to 1,405 million Euros; ]s improved by 18 percent to reach 273 million Euros, representing a ] of 19.4 percent.<ref name="grohe figures 2012" /> Grohe is currently Europe's biggest manufacturer of sanitary fittings and has eight percent of the worldwide market.<ref name="grohe-facts" /> The German market makes up roughly 15 percent of overall sales.</span> === 2010-2013 mevcut: Yakın Tarih =GROHE Japon Lixil şirketi tarafından satın alındı. === ] 2013 GROHE Japon Lixil şirketi tarafından satın alındı. 2012 yılında, Grohe AG'nin ] s 21 oranında artarak 1.405 milyon Euro; ] s temsil eden, 273 milyon Euro ulaşmak için yüzde 18 oranında geliştirilmiş ] yüzde 19,4 oranında <ref name="grohe rakamlar 2012" /> Grohe şu anda. sıhhi tesisat, Avrupa'nın en büyük üreticisi ve dünya pazarının yüzde sekiz vardır. <ref name="grohe-facts" /> Alman pazarında toplam satışların yaklaşık yüzde 15 oluşturur.</span> <span class="notranslate" onmouseover="_tipon(this)" onmouseout="_tipoff()"><span class="google-src-text" style="direction: ltr; text-align: left">Currently, Grohe AG is owned almost 100% by Grohe Holding GmbH (there are still some minority shareholders from the period in which Grohe AG was listed on the stock market).</span> Şu anda, Grohe AG Grohe Holding GmbH (bazı azınlık hissedarlar Grohe AG borsaya kote edildiği dönemden hala var) hemen hemen% 100 aittir.</span> <span class="notranslate" onmouseover="_tipon(this)" onmouseout="_tipoff()"><span class="google-src-text" style="direction: ltr; text-align: left">Grohe Holding GmbH is owned by investors.</span> Grohe Holding GmbH yatırımcılar aittir.</span> <span class="notranslate" onmouseover="_tipon(this)" onmouseout="_tipoff()"><span class="google-src-text" style="direction: ltr; text-align: left">June 2010 saw a ruling against the European sanitary fittings industry by the ].</span> Haziran 2010 itibarıyla Avrupa sıhhi tesisat sektöründe karşı bir karar gördüm ].</span> <span class="notranslate" onmouseover="_tipon(this)" onmouseout="_tipoff()"><span class="google-src-text" style="direction: ltr; text-align: left">The Commission found that European manufacturers had operated a ] between 1992 and 2002 and imposed a collective fine of 622 million Euros.</span> Komisyon Avrupalı üreticiler bir ] ameliyat olduğunu bulundu 1992 2002 yılları arasında 622 milyon Euro kolektif bir para cezası.</span> <span class="notranslate" onmouseover="_tipon(this)" onmouseout="_tipoff()"><span class="google-src-text" style="direction: ltr; text-align: left">Grohe's share of the fine amounted to 54.8 million Euros.<ref>http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/790&type=HTML</ref> The current Grohe board of directors, which took up business after the period under investigation, introduced awareness programmes about competition law and operates a zero-tolerance policy towards price-fixing.<ref>http://www.grohe.com/htlib/3/PDF/GROHE_CoB.pdf</ref> In early 2011, Grohe acquired a majority stake in the leading Chinese sanitary fittings producer ''Joyou'', making a successful public takeover bid.</span> Ince Grohe payı 54,8 milyon Euro olarak gerçekleşti. <ref> Http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/790&type=HTML </ ref> sürmüştür Yönetim mevcut Grohe kurulu, iş kadar incelenen süre sonra, rekabet hukuku konusunda bilinçlendirme programları tanıttı ve fiyat sabitleme karşı sıfır tolerans politikası izlemektedir. <ref> http://www.grohe.com/htlib/3/PDF/GROHE_CoB.pdf </ ref> 2011 yılının başlarında, Grohe önde gelen Çinli sıhhi tesisat armatürleri üreticisi çoğunluk hissesini satın aldı'' Joyou'', başarılı bir kamu devralma teklifi yapmak.</span> <span class="notranslate" onmouseover="_tipon(this)" onmouseout="_tipoff()"><span class="google-src-text" style="direction: ltr; text-align: left">The aim of this takeover is above all to strengthen Grohe's sales infrastructure on the fast-growing Asian market.<ref>http://www.reuters.com/finance/stocks/JY8G.DE/key-developments/article/2344643</ref> Grohe currently holds a 72 percent stake in Joyou.<ref name="grohe figures 2012" /> In May 2013, David Haines, chairman of Grohe, confirmed that, although the company is examining all options for ending investor involvement, no concrete plans had yet been made.</span> Bu devralma amacı hızla büyüyen Asya pazarında Grohe satış altyapısını güçlendirmek için tüm üzerindedir. <ref> Http://www.reuters.com/finance/stocks/JY8G.DE/key-developments/article/2344643 < / ref> Grohe şu anda Joyou bir yüzde 72 hissesine sahip. <ref name="grohe rakamlar 2012" /> May 2013 yılında David Haines, Grohe başkanı, doğruladı, bu şirket, yatırımcı katılımı sona erdirmek için tüm seçenekleri inceleyerek olmasına rağmen somut bir plan henüz yapılmıştır.</span> <span class="notranslate" onmouseover="_tipon(this)" onmouseout="_tipoff()"><span class="google-src-text" style="direction: ltr; text-align: left">Capital market experts estimate that Grohe would currently be valued at up to four billion Euros if it were to return to the stock market.<ref>http://uk.reuters.com/article/2013/05/13/uk-grohe-ipo-idUKBRE94C0Q420130513</ref></span> Sermaye piyasası uzmanları bu borsa dönmek için olsaydı Grohe şu anda dört milyar Euro'ya kadar değerli olacağını tahmin ediyoruz. <ref> Http://uk.reuters.com/article/2013/05/13/uk-grohe -ipo-idUKBRE94C0Q420130513 </ ref></span> | |||
| === 2010-present: Recent History === | |||
| ] | |||
| In 2012, Grohe AG’s ]s increased by 21 percent to 1,405 million Euros; ]s improved by 18 percent to reach 273 million Euros, representing a ] of 19.4 percent.<ref name="grohe figures 2012" /> Grohe is currently Europe’s biggest manufacturer of sanitary fittings and has eight percent of the worldwide market.<ref name="grohe-facts" /> The German market makes up roughly 15 percent of overall sales. Currently, Grohe AG is owned almost 100% by Grohe Holding GmbH (there are still some minority shareholders from the period in which Grohe AG was listed on the stock market). Grohe Holding GmbH is owned by investors. | |||
| June 2010 saw a ruling against the European sanitary fittings industry by the ]. The Commission found that European manufacturers had operated a ] between 1992 and 2002 and imposed a collective fine of 622 million Euros. Grohe’s share of the fine amounted to 54.8 million Euros.<ref>http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/790&type=HTML</ref> The current Grohe board of directors, which took up business after the period under investigation, introduced awareness programmes about competition law and operates a zero-tolerance policy towards price-fixing.<ref>http://www.grohe.com/htlib/3/PDF/GROHE_CoB.pdf</ref> | |||
| In early 2011, Grohe acquired a majority stake in the leading Chinese sanitary fittings producer ''Joyou'', making a successful public takeover bid. The aim of this takeover is above all to strengthen Grohe’s sales infrastructure on the fast-growing Asian market.<ref>http://www.reuters.com/finance/stocks/JY8G.DE/key-developments/article/2344643</ref> Grohe currently holds a 72 percent stake in Joyou.<ref name="grohe figures 2012" /> | |||
| In May 2013, David Haines, chairman of Grohe, confirmed that, although the company is examining all options for ending investor involvement, no concrete plans had yet been made. Capital market experts estimate that Grohe would currently be valued at up to four billion Euros if it were to return to the stock market.<ref>http://uk.reuters.com/article/2013/05/13/uk-grohe-ipo-idUKBRE94C0Q420130513</ref> | |||
| ==Grohe in the U.S.== | ==Grohe in the U.S.== | ||
Revision as of 14:52, 27 September 2013
- For the Brazilian goalkeeper, see Marcelo Grohe
 | |
| Company type | Private |
|---|---|
| Industry | Sanitary Fittings |
| Founded | 1948  |
| Headquarters | Düsseldorf, Germany |
| Number of locations | 130 national representatives, 23 distribution companies (2011) |
| Area served | Worldwide |
| Key people | David J. Haines (chairman and CEO) |
| Revenue | € 1,405 million (2012) |
| Operating income | € 273 million (2012) |
| Number of employees | 9,000 (2012) |
| Website | www |
Grohe AG is Europe's largest manufacturer of sanitary fittings, including kitchen and bathroom faucets/taps, and shower systems. Grohe has a worldwide market share of roughly eight percent in this product segment. The Grohe corporate centre is located in Düsseldorf, Germany, and it has offices in many parts of the world, including a US headquarters in Bloomingdale, IL. Grohe has six production sites, with locations in Portugal, Thailand, and Canada, along with three in Germany. The company has 9,000 employees, 3,400 of them working at its Chinese subsidiary Joyou.
History
1911 until 1990: Family-Owned
The company started as a ferric hardware factory in 1911 under the name Berkenhoff & Paschedag, located in Hemer, Germany; it was taken over by Friedrich Grohe in 1936, who focused on sanitary faucets only. Before that, Friedrich used to work for his fathers company Hansgrohe, founded in 1901. The first order from outside of Germany came in 1938. In 1948, the company was renamed to Friedrich Grohe Armaturenfabrik. In 1961, by which time the company had purchased a factory in Lahr/Schwarzwald, the company set up its first subsidiary abroad in France. A year later in 1962, Grohe acquired exclusive rights to produce the Moen Mixing Faucet, which mixes hot and cold water with a single lever.
In 1968, Friedrich Grohe sold a 51% stake in the company to International Telephone & Telegraph (ITT). During the 70s, Grohe opened subsidiaries in the US, UK, Holland and Belgium and introduced the ergonomic handshower series Relexa. 1982 saw the beginning of production at the new factory in Hemer-Edelburg. Friedrich Grohe died in 1983; in the following year, his heirs bought back the part of the company which had been sold to ITT. In 1989, there were some additions to the Lahr production site and a new logistics dept was opened at Hemer-Edelburg.
1990s and 2000s: Involvement of Investors
In 1991, the company bought two other producers of faucets: Herzberger Armaturen GmbH from the Brandenburg region and Armaturenfabrik H. D. Eichelberg & Co. GmbH at Iserlohn in Westphalia. Grohe was also restructured as a public limited company. By taking over the DAL group in 1994, the company acquired a production site in Porta Westfalica, Westphalia; at the same time, the company also acquired Tempress Ltd. of Mississauga in Ontario (Canada). At the Hemer site, new technology and factory control facilities were opened; in 1996 saw the company expand to Portugal and Thailand. A new design centre followed at the Hemer site in 1997.
In 1998, a group of investors working with BC Partners bought all available Grohe shares and delisted the company in the following year, making the Grohe Holding GmbH company, owned by BC partners, into the majority owner of Grohe AG in 1999. BC partners sold the company to a consortium of investors from the Texas Pacific Group and CSFB Private Equity (a subsidiary of the Swiss Credit Suisse banking group) five years later in 2004.
In 2005, Franz Müntefering, chairman of the then ruling German Social Democratic party (SPD), sparked a debate on capitalism by designating foreign private equity firms as "locusts". He made TPG-owned Grohe his main example. The "locust" metaphor remained popular in German politics and media for years while the German government cited Grohe as an example for a successful turnaround only three years later.
The company’s sales and profit figures had been stagnating for years, leading to a programme of savings as of 2005. Around 500 production jobs were cut at sites in Germany and the Herzberg factory was closed; the sites in Thailand and Portugal were expanded considerably. Through to 2008, investments totalling 130 million Euros were made in Germany in the area of production technology and logistics.
=== 2010-present: Recent History ===
Currently, Grohe AG is owned almost 100% by Grohe Holding GmbH (there are still some minority shareholders from the period in which Grohe AG was listed on the stock market). Şu anda, Grohe AG Grohe Holding GmbH (bazı azınlık hissedarlar Grohe AG borsaya kote edildiği dönemden hala var) hemen hemen% 100 aittir. Grohe Holding GmbH is owned by investors. Grohe Holding GmbH yatırımcılar aittir. June 2010 saw a ruling against the European sanitary fittings industry by the European Commission. Haziran 2010 itibarıyla Avrupa sıhhi tesisat sektöründe karşı bir karar gördüm Avrupa Komisyonu. The Commission found that European manufacturers had operated a cartel between 1992 and 2002 and imposed a collective fine of 622 million Euros. Komisyon Avrupalı üreticiler bir kartel ameliyat olduğunu bulundu 1992 2002 yılları arasında 622 milyon Euro kolektif bir para cezası. Grohe's share of the fine amounted to 54.8 million Euros. The current Grohe board of directors, which took up business after the period under investigation, introduced awareness programmes about competition law and operates a zero-tolerance policy towards price-fixing. In early 2011, Grohe acquired a majority stake in the leading Chinese sanitary fittings producer Joyou, making a successful public takeover bid. Ince Grohe payı 54,8 milyon Euro olarak gerçekleşti. Cite error: A <ref> tag is missing the closing </ref> (see the help page). Grohe currently holds a 72 percent stake in Joyou. In May 2013, David Haines, chairman of Grohe, confirmed that, although the company is examining all options for ending investor involvement, no concrete plans had yet been made. Bu devralma amacı hızla büyüyen Asya pazarında Grohe satış altyapısını güçlendirmek için tüm üzerindedir. Cite error: A <ref> tag is missing the closing </ref> (see the help page). Sermaye piyasası uzmanları bu borsa dönmek için olsaydı Grohe şu anda dört milyar Euro'ya kadar değerli olacağını tahmin ediyoruz. Cite error: A <ref> tag is missing the closing </ref> (see the help page). In February 2012, Grohe announced its US headquarters will move from Bloomingdale, Illinois to New York City.
References
- ^ http://www.grohe.com/en/about-grohe/facts-figures/p/25_8628.html
- http://www.grohe.com/p/25_15105.html
- ^ http://www.grohe-group.com/en/press/press-releases/p/25_8630.html?item=1155&id_cat=77
- http://www.grohe.com/de/ueber-grohe/grohe-meilensteine/p/22_15109.html
- http://www.fundinguniverse.com/company-histories/Friedrich-Grohe-AG-amp;-Co-KG-Company-History.html
- http://www.dw.de/dw/article/0,,1589069,00.html
- http://www.ft.com/intl/cms/s/0/7d885ddc-331c-11dd-8a25-0000779fd2ac.html
- Cite error: The named reference
grohe rakamlar 2012was invoked but never defined (see the help page). - http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/790&type=HTML
- http://www.grohe.com/htlib/3/PDF/GROHE_CoB.pdf
- http://www.supplyht.com/Articles/Bath_and_Kitchen_News/BNP_GUID_9-5-2006_A_10000000000001158566