Vendors offer their products. I. Vendors provide goods. - Fischer Group sells off its automotive sector.
On account of the uncertainties in the automotive sector and the dwindling sales, the Fischer Group has parted ways with its automotive division. The company, which was established in 2001 and is famed for its Dübel brand, has been purchased by the investment company Mutares as revealed by the group in Waldachtal (Freudenstadt district). The actual cost of acquisition is yet to be disclosed. Fischer had commenced in 1982 as a collaborator for the automotive domain with a storage system for music cassettes in cars. It currently manufactures several parts for the inside of vehicles like beverage containers, storage trays, and air vents.
"Fischer has managed to secure a buyer in Mutares with plenty of expertise, a solid clientele and an international network," added the statement. Employees from the acquisition and project sector, together with the subsidiaries in the Czech Republic, Serbia, US, and China will continue to be part of the Mutares team. Workers in manufacturing and logistics from the Fischer-Automotive base in Horb am Neckar (Freudenstadt district) will be taken on by the Befestigungssystems division. They plan to invest more than ten million euro in growth sectors like renovation projects and fire protection in the coming two years.
Several automotive suppliers are struggling due to the crises in the previous years and the shift from combustion engines to electric motors. Fischer also disclosed during the unveiling of their 2023 financial figures that the automotive division experienced lesser occupational activity. The division recorded sales amounting to 166 million euro in the prior year. The company reported a record turnover of 1.16 billion euro.
Fischer-Automotive Declaration on 2023 sales 2
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Fischer-Automotive's sales figure for the previous year in the automotive sector was 166 million euro, which is a significant decrease compared to their overall turnover of 1.16 billion euro. Despite the challenges faced by several automotive suppliers due to past crises and the shift towards electric motors, Fischer-Automotive's partner, Mutares, plans to invest more than ten million euros in growth sectors like renovation projects and fire protection.
