Press Archive


21.02.18

Statement regarding recently published articles about ZKW Group by the Austrian journal ‘Industriemagazin’

We expressly reject the statements published by ‘Industriemagazin’ in articles by Mr. Ruhaltinger from February 19, 2018. Just like the statements from last November, where the journal claimed the sale of ZKW to LG has been fixed, the current statements (LG would have reduced the alleged purchase price and the owner, Mr. Mommert himself, consequently would have terminated negotiations) are fabricated and not true.

It is quite irritating that, in our point of view,  ‘Industriemagazin’ obviously tries to put the good reputation of ZKW in question, to open the field for alleged ‘earlier interested buyers’ (‘Industriemagazin’ specifically mentions B&C Holding and Magna). In the articles, ‘former bidders’ are quoted with the statement, ZKW has ‘inflated sales in recent years’. This statement is an insult to all of our employees, who have paved the way for the profitable growth of ZKW in recent years. Our past growth is an outstanding achievement that our employees can be proud of. One would almost like to say to be glad not to have such alleged bidders, which obviously don‘t understand such growth rates, as owners.

Additionally, also the statement, that the profitability of ZKW ‘has been doubted by analysts’, can only be considered ‘intentionally malicious’, since – as widely known – ZKW is not listed on a stock exchange and therefore such statements from analysts on ZKW simply do not exist. On the contrary, ZKW has recently successfully placed a promissory note bond in the amount of €180 million with institutional investors. This confirms the confidence that institutional investors and banks place in the future of ZKW. We will close also the previous year with record sales and profits.

After all, a so-called “downgrade” of our products “from high-tech to mid-tech”, as stated by the journal, shows the missing understanding for the natural technological evolution in our industry. ZKW has been, is, and will be at the forefront of technological developments. As we have successfully managed former technological changes (from halogen to xenon to LED), we will do so in the future and want to remain at the forefront of innovation.

ZKW is a very successful company and we will be working hard to make sure this does not change. If there are changes in our ownership structure, we will communicate such facts clearly and openly. We, of course, hold talks with potential technological partners to fulfil our duties for facilitating a brigtht future of ZKW. We, however, do not conduct this in the public, into which the ‘Industriemagazin’ evidently aims to push us.