South Korea Is Most Successful Schmalz Company for 2010
Asian Markets Have High Potential for Growth
To start off the year, Schmalz held its World Market Meeting at its headquarters in Glatten. The company used this opportunity to greet the managing directors of its 16 international subsidiaries. As in years past, the subsidiary that showed the strongest growth was acknowledged.
South Korea received the prize for 2010's most successful company. Following the previous year's award to the Chinese branch, once again, an Asian company received the prize. "In general, Asian markets are showing notable growth. Our subsidiaries have established themselves well in their markets and are benefiting from the economic growth occurring there. We see great potential for growth in Asia in the coming years, as well," said Dr. Kurt Schmalz, Managing Director. The company of the year award is based on growth in revenue, turnover and productivity. Schmalz South Korea was founded in 2005 as a branch office in Seoul. Schmalz is growing strongly in South Korea in the automotive and electronics sectors and is particularly successful in markets of the future, such as the production of electric vehicles.
Keeping with tradition, the international meetings held at the beginning of the year focus on strategy and organization. Expectations and goals were the core topics, but upcoming product developments and market opportunities for 2011 were also discussed. Schmalz is planning for world-wide double-digit growth in turnover. "In order to reach this goal, we examined our product lines and developed and introduced new sales opportunities. The managing directors discussed their local activities and experiences. This interaction and continuous learning from one another is extremely important at our international meetings," reported Wolfgang Schmalz, Managing Director.
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