01: Sustainability at the Woco Group

Foreword and company

Dear Readers,

Woco products contribute to environmental relief through the reduction of emissions, immissions and noises. We aim to develop our vision on an ongoing basis and adapt it to the changes happening in the market and in society at large.

With the publication of our second sustainability report in accordance with GRI Standards, we would like to describe the measures we take to assume social responsibility in order to harmonize our economic activities with environmental and social considerations.

In particular, the transformation of the automotive sector toward new drive technologies, autonomous driving and the requirements in the field of materials calls for new perspectives. Digitalization involves new requirements for products and processes, and it also impacts on the knowledge and skills required of our employees. We have established the organizational basis for this with our new business units NEV (New Energy Vehicles) and Digitalization.  

Parallel to the transformation of the automotive sector, macroeconomic conditions are changing in all countries too. For this reason, we have also launched a cost-cutting program within the Woco Group to counteract the decline in turnover and the increase in material prices.

The purpose of these measures and our new structures is to enable the sustainable economic development of our company. As you can see, sustainability is a fundamental principle at Woco that shapes – and will continue to have a transformative effect on – how we think and act in all business units.

Best regards,


Bernhard Nagl, CFO Woco Gruppe
 


About Woco

Woco is an internationally active corporation with the flexibility and structure of a modern medium-sized company.

Headquartered in Bad Soden-Salmünster, the Woco Group has plants and production facilities in Europe, the Americas and Asia. Woco uses standardized processes to serve its customers across the globe in keeping with the philosophy: Woco is right where customers need Woco to be.

Woco therefore stands for quality, innovation and internationality. We develop material-independent functional solutions and are specialists for polymer materials and processes. Our main focus is on Automotive with the core product fields of Powertrain and Polymer Technology. Our customers in the automotive field include well-known automobile manufacturers and suppliers.

In the Non-Automotive area, long-standing experience in global industrial markets and continuous utilization of automotive know-how are the basis of our successful position in complementary production areas.

Governance structure

The Woco Group’s Executive Board consists of the CEO, CFO and COO.

Mr. Joachim Geimer became COO in September 2018, with responsibility for the plants. He presented the new structure at a company meeting at the beginning of 2019. The CEO is in charge of the markets.

The new structure involves dual leadership for market and plants, with responsibility extending across all three business units (Automotive Powertrain, Automotive Polymer Technology and Non-Automotive). 

Organizational changes

Markets:

In order to provide active support for the transformation of the markets, we have created new business units – NEV (New Energy Vehicles) and Digitalization – as part of a restructuring process that is still ongoing.

Plants:

In the area of plants too, we aim to meet increasing demands by means of central supply chain management.

With the plant expansions in Kronach, additional space in Eisenach and new plants in Greater Noida (India), Tianjin (China), Shuofang II (China), Lagos de Moreno (Mexico) and EFFBE CZ in Zlín (Czech Republic), we are establishing an excellent basis for future production of our customers’ orders with the quality and delivery reliability for which Woco is known.

Joint ventures:

We have provided fresh impetus in Non-Automotive, in particular with a new joint venture focused on the water sector management in China.

Introduction of SAP:

SAP’s ERP software is currently being introduced at Woco. We expect the SAP implementation to enable us to make a quantum leap in terms of process and information quality – ultimately benefiting the successful overall management of our company.

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