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21. April 2016

Change in the KÜNKEL WAGNER shareholder structure

Change in the KÜNKEL WAGNER shareholder structure

The Huatong Group of China, who are the shareholders of KÜNKEL WAGNER Germany GmbH and who are a state-owned holding company, have taken the decision to substantially expand their investment and to streamline the activities by dedicated strategic planning at KÜNKEL WAGNER.

Their objectives, among others, include a strengthening and modernisation of the KÜNKEL WAGNER headquarters’ real estate and upgrades in Germany which enjoys a high reputation in the foundry industry worldwide.

In line with this new commitment, KÜNKEL WAGNER in Alfeld will benefit from much more resourceful finances from their parent company Huatong Group, particularly an expansion of the R&D sector. Moreover, the IT infrastructure of all members of the KÜNKEL WAGNER group throughout the world will be restructured and standardised. Staff development programmes will be undertaken which will contribute to a stronger international orientation of the company, and the production facilities in Alfeld will be modernised to meet this enhanced international requirement.

As per the Huatong Group’s internal standard practice in case of large scale investments, they have appointed a managing director at KÜNKEL WAGNER closely connected to the shareholders for the purpose of spearheading and completing this project. On an interim basis Mr. Ruqiu Ma will intensively focus on Huatong Group’s expanded financial commitment to KÜNKEL WAGNER.

All the existing members of the KÜNKEL WAGNER management team well-known and accepted by customers and suppliers are still holding their key roles in KÜNKEL WAGNER. This team will also offer all their know-how and experience to contribute to the success of this important growth and modernisation project activity.

Source: Künkel Wagner

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