Press Conference of the Brose Corporate Group on the occasion of the 59th Frankfurt International Motor Show

At Frankfurt we are demonstrating, for the first time, a manual seat adjuster, which has been specially developed for two-door vehicles.

It is simple to operate and has an easy entry function with mechanical memory, which makes it possible to get into the rear passenger compartment of the car comfortably.

We will be able to pursue our expansive business strategy in the coming years as an independent family-run company with our own resources. In the next five years we intend to increase our business volume to about 2 billion euros and to intensify our activities especially in the United States.

The basis for this is our group’s sound financial position, resulting from our persistent international market success, our cost discipline and the dividend payment restraint exercised by our shareholders. This will make it possible for us to continue to finance our expansion with our own resources. By the year 2003, we will have invested more than 230 million euros in new products as well as in development and production capacities.

In order to be successful in the international arena, where competition is getting fiercer, cost discipline, speed and coordinated action worldwide are the essential strategic objectives. By introducing the new “Brose Working World” we have been able to achieve an international breakthrough in the streamlining and acceleration of our administrative processes. The most advanced information technology, variable working time, a new appraisal and remuneration system as well as a package of innovative social benefits and facilities are an integral part of our new organization. In this way, we will strengthen our employees’ identification with the company, their performance motivation and responsibility.

As a family-run company we will only be able to compete against the mega-suppliers if we have employees with above-average qualifications.

That is why at the IAA we are presenting ourselves not only to our customers but also to potential applicants by showing them the excellent career opportunities to be had at a family-run company which operates internationally.

Our growth means there is a need for qualified employees and at the moment we have 60 vacant positions for graduates.

As seen in a survey carried out throughout Germany by the VDI among graduates and young engineers on how well-known and attractive companies are, Brose has considerably improved its standing. Among German companies it is now in 15th position as the only family-run company and 4th position among the automotive suppliers.

With the new appearance of our international locations, we want to give a clear signal that the “supplier brand” of Brose stands for transparency, technology, quality and cost effectiveness.

I am convinced that even in this fiercely competitive environment we have laid the cornerstone for us to continue to be successful as an independent family-run company against the foreign mega-suppliers.

I thank you for your attention.