The Textile and Automotive Spin-offs
In 1995, Ernst Thomke, reputed Swiss Manager, took over the leadership of Saurer AG in Arbon as Chairman of the Board. To restructure this conglomerate, he had previously abandoned his position with its then major shareholder: BB Industrie Holding AG (22%). The previous major shareholder, Tito Tettamanti, of the conglomerate, founded in 1853, specialized in textile machinery and "propulsion technology", had acquired the main competitor in each field, Schlafhorst, with a large manufacturing capacity excess and Ghidela.
Thomke led actively Saurer AG until 1996, when he retired to the direction of the Board until 1999. In his years he promulgated transparency at all levels, flexible working hours, optimized the production and refined accounting systems. In 1996, the group Saurer AG went back into financial results showing profits. More than half of the revenues originating from Schlafhorst, upon its positive restructuring.
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Famous quotes containing the word textile:
“The textile and needlework arts of the world, primarily because they have been the work of women have been especially written out of art history. It is a male idea that to be “high” and “fine” both women and art should be beautiful, but not useful or functional.”
—Patricia Mainardi (b. 1942)