Mar 13 2008
The Board of Management and the Supervisory Board of SGL Carbon AG will submit a proposal to its shareholders at the upcoming Annual General Meeting on April 25, 2008 on converting the SGL Carbon Aktiengesellschaft into a European Company (Societas Europaea, SE) named SGL CARBON SE. The intended conversion into a European Company follows SGL Group’s international orientation, and acknowledges the importance of the domestic European market.
Currently, only approximately 15% of SGL Group’s sales are generated in Germany and around 35% of its production. Over 70 % of SGL Group’s workforce is employed in the European Union, of which nearly one half in Germany and the remainder in other EU countries. The conversion of the holding company into an SE allows the representation and involvement of the SGL employees from all sites in EU member states.
Robert J. Koehler, CEO of the SGL Group, states: "The legal form of a European Company is in accordance with our international corporate culture and can be regarded as a sign of commitment to our European home market. The conversion of the German Stock Corporation (Aktiengesellschaft) into the modern legal structure of an SE is a logical step in our company development, supporting the growth path on which we have embarked. We are now planning to bring the legal structure of our Group into a form, which matches the reality of our internal structures and daily business."
Posted March 13th,2008