ZKW expands and generates more than one billion euros in revenue
- New offices in China and Czech Republic will ensure growth.
- ZKW achieves highest order volume in company history.
- Company positioned for strong future growth.
WIESELBURG, Austria, Feb. 17, 2021 /PRNewswire/ -- The ZKW Group, a specialist for innovative premium lighting systems and electronics, which runs North American facilities in Troy, Michigan, and Silao, Mexico, is expanding its international network. In early May, the ZKW Group will be adding a new development office in Olomouc/Czech Republic and a sales and development office in Shanghai to its 10 existing international locations. The new branch in Olomouc will support the global engineering network, while handling further development tasks to add to existing capacities in Austria. Fifty new jobs will be created during the initial expansion, with the company's goal to employ more than 100 specialists by 2023. The new sales and development office in Shanghai will support the existing ZKW location in Dalian. These expansion steps underscore the ZKW Group's successful trajectory. Despite the pandemic and the difficult economic environment, the Group succeeded in generating revenues of 1.03 billion euros in 2020. "We were able to maintain production at our locations through a major organizational effort and by showing outstanding flexibility. We have the excellent teamwork and commitment of all of our employees to thank for our success. Now, we will continue to grow through our global development footprint," says Oliver Schubert, CEO of the ZKW Group.
Workforce on-site
With its new development office in Olomouc, ZKW is pursuing its strategy of utilizing the local supply of labor and automotive expertise on-site. Olomouc is home to the Czech Republic's second oldest university, and has its own light technology department as well. This ensures ZKW's new employees will have a good technical background. In addition, the greater Olomouc region has a long tradition in developing and manufacturing automotive headlamps. "The region offers a highly qualified workforce, which we plan to use for our development of premium lighting systems. Currently, we are looking for experienced engineers from the automotive industry in the areas of light, design, electronics and software," says Schubert.
Closer to clients
The new sales and development office in Shanghai will support the existing ZKW location in Dalian. "This is a strategic decision to be closer to our clients, such as SGM and Volvo," Schubert says. In addition to sales and development tasks, colleagues in the new, 200 m2 (2,152 ft2) office will also support the Group's purchasing activities. Five employees will be hired initially in April of 2021. Later, the plan is to grow the workforce to a total of 15 specialists by 2022.
Successful fiscal year despite the coronavirus pandemic
Despite the pandemic and difficult global economic situation, the ZKW Group remains well-positioned to face future challenges. The company's special coronavirus taskforce is coordinating supply chain maintenance within the Group. In late 2020, the company received 150 million euros in financing from the European Investment Bank (EIB). ZKW will use the funds to expand its innovation activities, which are key to the Group's success. In addition, ZKW plans to invest in sustainable manufacturing and green development – for instance by investing in energy-efficient systems in the Slovakian plant in Krušovce. "Our order books are certainly looking very strong for the next three years. ZKW expects to set a new revenue record in 2022. We are proud to have the highest order volume in the company's history and feel positively about the future. We are certain that we will be able to manage challenges such as digitization, competitive pressure and sustainability alongside our employees," says Schubert, looking ahead.
About ZKW
The ZKW Group is the specialist for innovative premium lighting systems and electronics. As a system supplier, ZKW is a global partner to the automotive industry. The group develops and produces products based on its motto of "Bright Minds, Bright Lights," combining bright minds with modern production technologies to produce complex premium lighting and electronic modules for international automotive manufacturers.
Our top products include powerful and cost-efficient complete LED systems. The ZKW Group has a total of 12 locations worldwide, with intelligently networked development and production. In 2020, the Group employed around 10,000 workers and generated total revenues of 1.03 billion euros.
In accordance with the corporate vision "Ground-breaking premium lighting and electronic systems from ZKW for all mobility concepts of the global automotive industry," the company's primary goal is to produce top-quality high-tech products and to promote the development of innovative holistic lighting systems.
With our discoveries and inventions, the ZKW corporate group makes vehicles more desirable, more unique, safer, and more energy efficient.
Our 360 degree product portfolio includes headlamps and fog lamps, rear lamps, flashers, interior and license plate lamps as well as electronic modules. Major automotive manufacturers trust their brands to innovative products from ZKW. We are proud of our customers like BMW (BMW, Rolls Royce), DAIMLER (MERCEDES-BENZ Cars and Trucks), FORD (Lincoln, Ford), GEELY (Volvo, Polestar, Lynk & Co, Geely), GENERAL MOTORS (Buick, Chevrolet, Cadillac), JLR (Jaguar, Land Rover), PSA (Opel, Citroen), RENAULT/NISSAN (Infiniti, Alpine), VGTT (Volvo Trucks, MACK) and VW (Audi, Porsche, Skoda, Lamborghini, MAN, VW, Seat).
With intelligent lighting systems and innovative styling, ZKW is shaping the look and character of vehicles worldwide.
Press contact:
ZKW Group GmbH
Sandra Simeonidis-Huber
Group Communication
Tel: +43 7416 505 2051
[email protected]
www.zkw-group.com
Images can be found here: https://3kda3m2nmwh53ejt063u4hn3-wpengine.netdna-ssl.com/wp-content/uploads/2021/02/ZKW_Turnover_2020.zip
SOURCE ZKW Group
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