Schauenburg Technology SE: New Legal Form to Reflect Internationalization

Change of legal form on 30 December 2009 / Improved framework for further growth / Currently about 700 employees in 6 countries

Mülheim/Ruhr, Germany. The Schauenburg Technology GmbH (Mülheim/Ruhr, Germany) changed its legal form, first in an intermediary step from a German GmbH (limited liability company to a German AG (stock corporation) and finally to a European stock corporation (Societas Europaea = SE). As of 30 December 2009 it officially operates as Schauenburg Technology SE. The family-owned company was founded in 1947 and is one of the leading producers of high performance spiral hoses worldwide. The change of legal form from a German to a European stock corporation reflects the rapidly growing international activities of the Schauenburg Technology Group, which currently has over 700 employees in 6 countries.

The change of legal form brings only positive changes for customers and employees. Marc Georg Schauenburg, Managing Director and Chairman of the Advisory Board, sums up the background, goals and opportunities of this change: “The European stock corporation came into being in 2004 and represents an important element to harmonization of European law. This legal form ideally suits our entrepreneurial vision for a European Group with global business activities. The new SE will help us to optimize the value-added chain, reduce national barriers, implement international acquisitions, find international executives, operate in the capital markets and promote our brands globally. Our customers will profit in the medium and long term from this strengthened position.”

With this legal change reflecting changing international framework, the Schauenburg Technology Group once again leads the way in its industrial sector.

Further Information:

Schauenburg Technology SE
Weseler Straße 35
45478 Mülheim-Ruhr
Germany

Tel.: +49 (0) 2 08 / 999 10
Fax: +49 (0) 2 08 / 999 1292
E-Mail: technology@schauenburg.com