At the annual General meeting of Grammer, the sparks fly. The family business Hastor has taught the VW, the Fear, and is now in the Bavarian automotive supplier to the Power.
With a sharp mutual criticism Company and a major shareholder in the automotive supplier Grammer have played in their struggle for power on Wednesday to the annual General meeting. Of fear that the Investor Cascade, behind which the Bosnian family of entrepreneurs Hastor, “pursuing only their own goals,” said Grammer-in-chief Hartmut Müller, the Hastor-wants to depose page. The major shareholder to the detriment of the other shareholders, the Say in the group and him, in the short term at profit maximization trim. Cascade-lawyer Franz Enderle threw the Board to the shareholders ‘ meeting in Amberg in the upper Palatinate duty forgotten: He think of it, “as he can his own Position secure,” the future of the company.
The family business Hastor is since the bitter dispute of the to the count of your Empire, the Prevent group with Volkswagen, widely known to the Public; the gruff-run dispute shut down last summer, at times, the production of the car manufacturer. Experts fear that Hastor is also striking in the case of Grammer a sharper key to the customer from the car industry. Among the largest customers of the manufacturer of headrests, armrests and center consoles for passenger Cars and for commercial vehicles, Volkswagen, BMW and Daimler. Several major customers have announced, according to Grammer-boss Mueller to reconsider their business relations with Grammer, if the Hastor required replacement of the Board of management and Supervisory Board members should come.
Employees against Hastor
“Hastorenschreck Grammer drives away customers,” on a poster to read, prior to the start of the annual General meeting, staff and members of the IG Metall against the Investor protested. Around 2000 people made with whistles and drums, their Anger loudly air. “The Hastors are only interested in short term gains”, said the Bavarian trade Union chief Jürgen Changer. You harm Grammer and vulnerable jobs. “All the actors take a stand against these Investor: Grammer, the employees, the customers of Grammer, shareholder representatives, analysts, and policy.”
Protests from employees, there was already in April
The protesters announced with posters, to wish against a major shareholder Hastor fight, holds, according to Grammer-boss currently two investment vehicles around 23 per cent of the shares. Depending on the presence during the voting, this could be enough for Hastor to the own goals. The Chinese major shareholder of Ningbo Jifeng, the Grammer tip as the Savior and “white knights” on Board had brought, holds 15 percent.
Grammer-boss hope for the shareholders
Müller asked the shareholders to vote against the amendments of the Hastor-page. This could possibly “jeopardize the future of Grammer substantial”. The CEO pointed to the record numbers from the year 2016, and the good prospects for the interiors specialists. The return of the last to 4.3 per cent will increase up to 2021 is seven percent, Müller said.
Cascade-lawyer Enderle was the Grammer tip, behind the defense strategy against Hastor Volkswagen. Because of the large customer, the chief Executive officer of Müller “the saddle”, not a more serious price negotiations possible in the future. “You will not have to accept any price, the VW dictates.” In addition, the Board of Directors to be forgotten is “totally mandatory” and how the Supervisory Board “for the management of the company is no longer suitable”. Cascade intend neither, its participation in Grammer, to increase a Takeover and certainly not a share sale. “We are here to stay.”
zdh/qu (rtr, dpa)