WALTER MEIER AT A GLAncE
WALTER MEIER AT A GLAncE
WALTER MEIER AT A GLAncE
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Climate teChnology<br />
<strong>WALTER</strong> <strong>MEIER</strong> <strong>AT</strong> A <strong>GLAncE</strong><br />
manufaCturing teChnology
Walter Meier is an international climate and manufacturing technology<br />
group. The company was founded in 1937 and today generates<br />
sales of approx. cHF 800 million with around 1700 employees.<br />
Walter Meier sets great store by customer-specific total solutions<br />
and comprehensive support services. Shares in Walter Meier are<br />
listed on the SIX Swiss Exchange (symbol WMn).
“BuILDInG OnE cOMPAny”<br />
Dear Readers,<br />
Walter Meier is growing steadily from a<br />
financially managed holding company into<br />
a strategically focused Group with an integrated<br />
organizational structure. In doing so, we are<br />
focusing consistently on two areas of expertise,<br />
climate and Manufacturing Technologies. Prior<br />
to 2007, the Group had been characterized by a<br />
large number of subsidiaries that were inde-<br />
pendent to a great extent. Today, Walter Meier<br />
offers a uniform, global corporate brand with<br />
only three operating group divisions as well as<br />
specialized corporate centres.<br />
However, with a uniform visual image and the<br />
new corporate structure we have only created<br />
the necessary prerequisites for our strategy. Its<br />
implementation is the responsibility of all of<br />
our approximately 1700 employees who must<br />
now bring it to life. “Building one company” is<br />
the guiding principle for the path we are taking.<br />
To this end, Group Management has formulated<br />
a uniform value proposition for everyone with<br />
whom Walter Meier comes into contact, and it<br />
has also created a corporate culture that<br />
defines the mindset of everyone in our Group<br />
and how we can all work together.<br />
now it’s our turn to put these words into<br />
action – because we have not yet reached the<br />
point where we want to be. It’s the respon-<br />
sibility of all members at management level to<br />
implement our corporate values in their teams.<br />
Every employee should know how he or she can<br />
incorporate our value proposition and corporate<br />
culture into their day-to-day work.<br />
“Walter Meier at a glance” provides a brief<br />
picture of who Walter Meier is and what the<br />
Group stands for. Enjoy reading!<br />
Silvan G.-R. Meier<br />
chief Executive Officer<br />
03
<strong>WALTER</strong> <strong>MEIER</strong> IS An<br />
InTERn<strong>AT</strong>IOnAL cLIM<strong>AT</strong>E AnD<br />
MAnuFAcTuRInG TEcHnOLOGy<br />
GROuP<br />
cLIM<strong>AT</strong>E<br />
TEcHnOLOGy<br />
We make perfect indoor climate possible with<br />
the lowest environmental burden.<br />
To achieve this, our offering covers the three<br />
dimensions of indoor climate: temperature,<br />
humidity and fresh air. For energy sources, we<br />
prefer the sun, energy recovery and the Earth.<br />
Installers and exclusive importers are our<br />
distribution partners. We serve residential,<br />
commercial and industrial end users.<br />
upper left:<br />
conventional or renewable energy:<br />
Walter Meier offers service for all technologies.<br />
Lower left:<br />
Precise manufacturing and reduced working<br />
hours thanks to automation solutions.<br />
MAnuFAcTuRInG<br />
TEcHnOLOGy<br />
05<br />
We make precise manufacturing possible with<br />
the minimum use of labor.<br />
Our offering covers the areas of metalworking,<br />
woodworking, material handling, air tools<br />
and hand tools. In addition, we provide custom-<br />
made automation solutions.<br />
Specialty distributors and exclusive importers<br />
are our distribution partners. We focus on end<br />
users in craft and industry.
06<br />
cLIM<strong>AT</strong>E TEcHnOLOGy<br />
MARkETS AnD PRODucTS<br />
In addition to its strong own brands in the<br />
humidification and dehumidification sector,<br />
Walter Meier’s range is rounded off with<br />
third party brands. Walter Meier is represented<br />
through its own sales organizations in<br />
Switzerland and neighboring European countries.<br />
They supply end users in the residential building,<br />
VALuE-ADDED cHAIn<br />
Products<br />
Walter meier<br />
Own brands<br />
Suppliers<br />
Third party<br />
brands<br />
Walter meier<br />
Service<br />
markets<br />
Distribution partners<br />
Distribution through<br />
exclusive importers<br />
Walter meier<br />
Distribution through<br />
installers<br />
construction trades and industrial sectors<br />
through installers. Exclusive importers assume<br />
this role in more than 50 other countries<br />
worldwide. After-sales services are mainly<br />
supplied directly to end users.<br />
Distribution<br />
partners<br />
Installers<br />
end users<br />
Residential<br />
commercial<br />
Industrial
PRODucTS<br />
VS. MARkETS<br />
Walter meier<br />
Own brands<br />
Suppliers<br />
Third party<br />
brands<br />
Walter meier<br />
Service<br />
Humidification<br />
Dehumidification<br />
Heating<br />
Ventilation<br />
cooling<br />
most important own brands: condair, Defensor, nortec, AxAir<br />
Walter meier Distribution partners<br />
Distribution through installers Exclusive importers<br />
Switzerland<br />
Germany France uk Austria Hungary<br />
most important third party brands: Oertli, DeDietrich, carrier, BlueBox, Fujitsu<br />
Installation of a concrete core activation system –<br />
environmentally conscious heating and cooling thanks<br />
to thermally active components.<br />
uSA/<br />
canada china<br />
07<br />
International
08<br />
MAnuFAcTuRInG TEcHnOLOGy<br />
MARkETS AnD PRODucTS<br />
In its core markets, Walter Meier is represented<br />
through its own brands and its own sales<br />
organizations. More than 50 other countries are<br />
supported by exclusive importers. In principle,<br />
end users, whether craftsmen or industrial<br />
companies, are serviced through specialty distrib-<br />
utors. An exception here is business in the Swiss<br />
VALuE-ADDED cHAIn<br />
Products<br />
Walter meier<br />
Own brands<br />
Suppliers<br />
Third party<br />
brands<br />
Walter meier<br />
Service<br />
markets<br />
Distribution partners<br />
Distribution through<br />
exclusive importers<br />
Walter meier<br />
Distribution through<br />
specialty distributors<br />
Walter meier<br />
Direct sales<br />
automated metalworking sector, where<br />
Walter Meier supplies complete manufacturing<br />
solutions consisting of trade products directly<br />
to industrial end users.<br />
Distribution<br />
partners<br />
Installers<br />
end users<br />
craft<br />
Industry
PRODucTS<br />
VS. MARkETS<br />
Walter meier<br />
Own brands<br />
Suppliers<br />
Third party<br />
brands<br />
Walter meier<br />
Service<br />
Metalworking<br />
Woodworking<br />
Material-handling<br />
Air tools<br />
Hand tools<br />
Automated<br />
Metalworking<br />
Miscellaneous<br />
Precision machining of a watch case<br />
on a nakamura cnc lathe.<br />
Walter meier Distribution partners<br />
Direct Distribution through specialty<br />
sales distributors<br />
Switzerland<br />
most important own brands: Jet, Wilton, Powermatic, Promac, Toolcraft<br />
most important third party brands: nakamura, kennametal, Fanuc Robodrill<br />
Exclusive importers<br />
09<br />
Switzerland<br />
Germany France uSA Europe Latin America
10<br />
OuR VALuE PROPOSITIOn<br />
Walter Meier gears its business to the needs<br />
of everyone who has a stake in the company’s<br />
success. Our aim, of course, like every other<br />
company, is to earn as much as possible. However,<br />
our focus is extremely long term, and we know<br />
that we shall only succeed in the distant future<br />
with the help and satisfaction of all those<br />
involved. We have devised a value proposition as<br />
a basis for sustained collaboration with everyone<br />
who has a stake in the company’s success.<br />
EnD uSERS<br />
End users are provided by us with a need-oriented<br />
and user-friendly offering.<br />
DISTRIBuTIOn PARTnERS<br />
Distribution partners are enabled by our products<br />
to achieve a sustainable competitive advantage.
EMPLOyEES<br />
Employees are provided with security, challenging<br />
and fulfilling tasks plus fair compensation.<br />
SuPPLIERS<br />
Suppliers are regarded by us as<br />
long-term partners who can rely on us.<br />
SHAREHOLDERS<br />
11<br />
Shareholders should receive a return that corresponds<br />
to their risk.<br />
THE EnVIROnMEnT AnD<br />
FuTuRE GEnER<strong>AT</strong>IOnS<br />
The environment and future generations benefit from our<br />
commitment to efficient and low-emission technologies.
12<br />
OuR cORPOR<strong>AT</strong>E cuLTuRE<br />
no matter where we are doing business and<br />
with whom we are dealing, our global corporate<br />
culture is based on the same principles – in<br />
making decisions, in relations with everyone who<br />
has a stake in the company’s success, in dealing<br />
with each other, in the provision of information<br />
and in communication as well as in assessing<br />
performance. Our corporate culture is based on<br />
the moral values and attitudes that characterize<br />
the behavior of all our staff and consequently<br />
the image of Walter Meier. OPEn-MInDED<br />
We look at everyone and everything in an unbiased<br />
manner, without prejudice. We think globally when<br />
considering business opportunities around the<br />
world. Our innovations are the result of our enthusiasm<br />
for leading-edge concepts and technologies.<br />
DynAMIc<br />
We are quick to act and respond. We do not wait to<br />
be prompted into action by others but instead act on<br />
our own initiative. We do not let bureaucracy slow<br />
us down and instead strive to act in a decisive manner.
cOOPER<strong>AT</strong>IVE<br />
We are unselfish in constantly focusing on the common<br />
interest. We adapt to situations flexibly to improve<br />
our teamwork. We are reliable in keeping our promises.<br />
STRAIGHTFORWARD<br />
We are uncomplicated in our dealings and are<br />
prepared to give honest and straightforward answers.<br />
We are willing to follow the other person's train<br />
of thought so as to make ourselves comprehensible.<br />
Because we are concise, we do not waste time.<br />
RESuLT-ORIEnTED<br />
Because we are focused, we can concentrate on what<br />
is essential. We are tenacious, unyielding and push<br />
forward to our goals. We are satisfied only when our<br />
determination leads to consistently good results.<br />
13
14<br />
GROuP MAnAGEMEnT<br />
Silvan g.-r. meier<br />
chief Executive Officer<br />
Human Resources<br />
Information Technology<br />
corporate communications<br />
Business Development<br />
rudolf Strebel<br />
climate Markets<br />
Switzerland<br />
Germany<br />
France<br />
uk<br />
Austria<br />
Hungary<br />
Jochen nutz<br />
chief Financial Officer<br />
Accounting & Reporting<br />
Planning & controlling<br />
Treasury<br />
Taxes<br />
roberto ettlin<br />
Manufacturing Markets<br />
Switzerland<br />
Germany<br />
France<br />
uSA<br />
Export Europe<br />
Export Latin America<br />
raimund Baumgartner<br />
Products<br />
Engineering – own brands<br />
Assembling/sourcing –<br />
own brands<br />
Facilities Pfäffikon, Hamburg,<br />
Ottawa, Beijing<br />
climate Markets uSA/canada,<br />
china, Export International
kEy FIGuRES 2008<br />
nET SALES cHF 782.7 MILLIOn<br />
EMPLOyEES 1650<br />
net SaleS By region (In cHF MILLIOn)<br />
Climate technology<br />
453.3<br />
29.8<br />
10.8<br />
165.1 247.6<br />
166.7<br />
Climate technology<br />
1190<br />
92<br />
269<br />
Switzerland other europe uSa/Canada other<br />
numBer of emPloyeeS (GROuP MAnAGEMEnT: 33)<br />
manufacturing technology<br />
329.4<br />
Switzerland other europe uSa/Canada China/taiwan<br />
66<br />
763<br />
6.5<br />
manufacturing technology<br />
427<br />
95<br />
180<br />
15<br />
103.4<br />
52.8<br />
133<br />
19
16<br />
MILESTOnES<br />
In OuR HISTORy<br />
1937 1972 1975 1977<br />
1937 Walter Meier begins importing machine tools into<br />
Switzerland and to this end establishes the parent<br />
company of the present-day Group named after him.<br />
1972 The second generation assumes responsibility<br />
for running the company under the management of<br />
Dr. Reto E. Meier.<br />
net sales: cHF 25 million<br />
number of employees: 43<br />
1975 The first acquisition and entry into the air<br />
conditioning market through the purchase of Defensor,<br />
a pioneering company and market leader in air<br />
humidification.<br />
1976 With the establishment of WMH Walter Meier<br />
Holding, Dr. Reto E. Meier lays the foundation for a<br />
long-term strategy of rapid growth and diversification.<br />
1977 Entry into the heating market through the<br />
acquisition of Oertli.<br />
1981 Strengthening of the Group's position as a global<br />
leader in air humidification through the acquisition<br />
of condair and the north American company nortec.<br />
1982 Expansion of the heating business and entry<br />
into the heating-systems distribution market through<br />
the acquisition of Procalor.<br />
1985 Initial public offering with listing on the<br />
Swiss stock exchange.<br />
net sales: cHF 265 million<br />
number of employees: 1506<br />
1988 First step in the expansion of the processing<br />
business outside of Switzerland through the acquisition<br />
of Jet Equipment & Tools, a uS supplier of woodworking<br />
and metal working machines as well as transport and<br />
material-handling equipment.<br />
1990 Acquisition of Vestol and its merger with Procalor<br />
to form Vescal, which subsequently ranks among the<br />
leading providers of heat production and heat supply<br />
systems and components in Switzerland.<br />
1991 Germany's leading air humidification company,<br />
Barth + Stöcklein, is acquired.<br />
1994 Further strengthening of the Swiss climate business<br />
through the acquisition of climatechnique kobra.
1985 1988 2007 2008<br />
1995 Formation of the world-leading air humidifi cation<br />
company through the merger of Defensor, condair,<br />
Barth + Stöcklein and kobra under the name Axair.<br />
1997 Establishment of a branch in Beij ing. Production<br />
of air humidifi cation equipment in china begins.<br />
1999 Strengthening of the American woodworking<br />
business through the acquisition of Powermatic.<br />
2001 The acquisition of Draabe Industrietechnik<br />
in Germany strengthens the global humidifi cation<br />
business for process applications.<br />
2002 Strengthening and expansion of the metalworking<br />
business through the acquisition of Wilton, the leading<br />
supplier of vises in the uSA. Acquisition of the uk-based<br />
refrigeration specialists climate Equipment.<br />
2006 continuity of the Group is ensured when<br />
Silvan G.-R. Meier joins Walter Meier and thus represents<br />
the third generation of family entrepreneurs. At the<br />
same time, it is the starting signal for a strategic<br />
realignment and revitalization.<br />
net sales: cHF 774 million<br />
number of employees: 1800<br />
17<br />
2007 The Group and its business units present a<br />
unifi ed identity under Walter Meier. In parallel with this,<br />
Axair kobra, Vescal and Oertli Service merge to become<br />
the leading Swiss provider in the area of indoor climate.<br />
2008 The Group continues to move closer together with<br />
the creation of the new central areas of Human Resources,<br />
Information Technology and corporate communications.<br />
The acquisition of Tosa with its product brands Promac<br />
and Toolcraft strengthen the product range of<br />
manufacturing technologies and expands the specialty<br />
distributors channels in Switzerland and France. The<br />
global fi nancial crisis reaches the real economy and has<br />
an eff ect on the annual result.<br />
2009 The acquisition of Eichler expands the presence<br />
in the air conditioning market to Austria and Hungary.<br />
creation of a focused organizational structure with<br />
three group divisions, namely climate Markets,<br />
Manufacturing Markets and Products. With Tk 3000.<br />
Walter Meier acquires the leading ventilation hygiene<br />
company in Switzerland, thus complementing its<br />
range of services in climate technology.
18<br />
grouP<br />
Walter meier ltd.<br />
Laubisrütistrasse 24<br />
cH-8712 Stäfa<br />
Switzerland<br />
Phone +41 44 928 15 15<br />
Fax +41 44 928 15 00<br />
group@waltermeier.com<br />
www.waltermeier.com<br />
Climate marKetS manufaCturing marKetS<br />
Walter meier<br />
(Klima Schweiz) ag<br />
Bahnstrasse 24<br />
8603 Schwerzenbach<br />
Switzerland<br />
Phone +41 44 806 41 41<br />
Fax +41 44 806 41 00<br />
ch.klima@waltermeier.com<br />
Walter meier<br />
(Klima Deutschland) gmbh<br />
carl-von-Linde-Strasse 25<br />
85748 Garching-Hochbrück<br />
Germany<br />
Phone +49 89 326 70 0<br />
Fax +49 89 326 70 140<br />
de.klima@waltermeier.com<br />
Walter meier<br />
(Climate uK) ltd.<br />
Highlands Road, Shirley, Solihull<br />
West Midlands B90 4nL<br />
united kingdom<br />
Phone +44 121 705 76 01<br />
Fax +44 121 711 86 30<br />
uk.climate@waltermeier.com<br />
eichler Klima gmbh<br />
Pernerstorfergasse 5<br />
1100 Wien<br />
Austria<br />
Phone +43 1 60 33 111 0<br />
Fax +43 1 60 33 111 399<br />
info@eichler.at<br />
www.eichler.at<br />
Walter meier<br />
eichler hungaria Kft.<br />
(Climat france) SaS<br />
Fehévàri ùt 44<br />
2, rue des Vieilles Vignes 1119 Budapest<br />
croissy Beaubourg<br />
Hungaria<br />
77437 Marne la Vallée cedex 2 Phone +36 1 382 45 80<br />
France<br />
Fax +36 1 382 45 77<br />
Phone +33 1 60 95 89 39 eichler@eichler.hu<br />
Fax +33 1 60 95 89 31 www.eichler.hu<br />
fr.climat@waltermeier.com<br />
ProDuCtS<br />
Walter meier<br />
(Climate international) ltd.<br />
Talstrasse 35–37<br />
8808 Pfäffikon SZ<br />
Switzerland<br />
Phone +41 55 416 61 11<br />
Fax +41 55 416 62 62<br />
international.climate@waltermeier.com<br />
Walter meier<br />
(Climate Canada) ltd.<br />
2740 Fenton Road<br />
Ottawa, Ontario k1T 3T7<br />
canada<br />
Phone +1 613 822 03 35<br />
Fax +1 613 822 79 64<br />
northamerica.climate@waltermeier.com<br />
www.humidity.com<br />
Walter meier<br />
(machining Solutions) ltd.<br />
Bahnstrasse 24<br />
8603 Schwerzenbach<br />
Switzerland<br />
Phone +41 44 806 46 46<br />
Fax +41 44 806 47 47<br />
ch.machining@waltermeier.com<br />
tool ag<br />
Tämperlistrasse 5<br />
8117 Fällanden<br />
Switzerland<br />
Phone +41 44 806 59 59<br />
Fax +41 44 806 59 69<br />
tool@tool-ag.ch<br />
www.tool-ag.ch<br />
tool (france) S.à.r.l.<br />
57, rue du Bois chaland<br />
Z.l. du Bois chaland<br />
c.E. 2935 Lisses<br />
91029 Evry cedex<br />
France<br />
Phone +33 1 69 11 37 37<br />
Fax +33 1 60 86 32 39<br />
www.promac.fr<br />
Walter meier<br />
(Climate uSa) inc.<br />
826 Proctor Avenue<br />
Ogdensburg, new york 13669<br />
uSA<br />
Phone +1 315 425 1255<br />
northamerica.climate@waltermeier.com<br />
Walter meier<br />
Climate (Beijing) ltd.<br />
Building 3, Section c<br />
OPTO Mechatronics Industrial Park<br />
Tong Zhou District<br />
Beijing 101111<br />
P.R. china<br />
Phone +86 10 815 030 08/51/52<br />
Fax +86 10 815 038 70<br />
cn.climate@waltermeier.com<br />
Wmh tool group inc.<br />
2420 Vantage Drive<br />
Elgin, IL 60124<br />
uSA<br />
Phone +1 847 851 10 00<br />
Fax +1 847 851 10 45<br />
wmh@wmhtoolgroup.com<br />
www.wmhtoolgroup.com<br />
Wmh tool group ag<br />
Bahnstrasse 24<br />
8603 Schwerzenbach<br />
Switzerland<br />
Phone +41 44 806 47 48<br />
Fax +41 44 806 47 58<br />
info@wmhtoolgroup.ch<br />
www.wmhtoolgroup.ch<br />
mato CnC-maschinen ag<br />
Auerstrasse 32<br />
9442 Berneck<br />
Switzerland<br />
Phone +41 71 722 99 90<br />
Fax +41 71 722 99 92<br />
info@matoag.ch<br />
www.matoag.ch<br />
Draabe industrietechnik gmbh<br />
Schnackenburgallee 18<br />
22525 Hamburg<br />
Germany<br />
Phone +49 40 85 32 77 0<br />
Fax +49 40 85 32 77 79<br />
draabe@draabe.de<br />
www.draabe.com<br />
axenergy ltd.<br />
Talstrasse 35–37<br />
8808 Pfäffikon SZ<br />
Switzerland<br />
Phone +41 55 416 66 70<br />
Fax +41 55 416 62 62<br />
axenergy_ch@ctfog.com<br />
www.axenergy.com
www.myclimate.org<br />
The 0.69 tons of cO 2 emissions that were produced<br />
in the printing of this document are being offset<br />
through the international project myclimate.org.<br />
Printed on paper that was manufactured<br />
without chlorine.
Walter Meier AG<br />
Laubisrütistrasse 24, 8712 Stäfa, Switzerland<br />
Phone +41 44 928 15 15, Fax +41 44 928 15 00<br />
group@waltermeier.com, www.waltermeier.com<br />
4 / 2009
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