On September 6th, Peter Witteczek, global CEO and president of Walter AG, made a special trip to the Chinese branch in Wuxi, and Paul Montgomery, president of Walter Greater China. Mr.) jointly released the company's new corporate identity system, and announced its "1B10" strategy: to become a 1 billion euro company by 2010. At the same time, Walter's new Wuxi plant and the new Japanese plant are under construction. A series of market behaviors indicate that Walter expects to become the industry leader's ambition.
The new company logo is based on the Walter word, and makes full use of the original Walter, Titex, Prototyp colors, the latter two become a part of the new logo in the form of color, expressing the fusion power of the three brands. At the same time, Titex and Prototyp continue to exist as brand logos, which are represented by red or yellow logos that symbolize their respective brands under the corporate logo.
Today, customers need suppliers with strong core competencies and a wide range of products. The processing of new and more composite materials requires finding integrated solutions from a single supplier to reduce suppliers and reduce the complexity of production management. The key question is whether suppliers can offer a wide range of products. . Walter saw this accurately and hopes to have such advantages through integration.
After brand integration, Walter will be a provider of integrated solutions from a one-stop supplier: Walter Group was founded in 1919 as a leading manufacturer of tools for carbide turning, drills and milling cutters. One; Walter Titex is a globally renowned brand of high performance drills, HSS (E) boring tools and solid carbide knives; Walter Prototyp is the overall hard of innovative thread knives, HSS (E) milling cutters and high-tech coatings. The leading brand of alloy tools. The new corporate logo represents the company's transformation, and the Walter Group is not only committed to providing high-quality tools, but also provides reasonable advice for customers from the initial selection of the tool to the subsequent practical application.
Here, Peter Witteczek also answered questions from reporters about Paul Mgomery.
Reporter: How do you view China's tool market? How to evaluate this market?
Paul Montgomery: The development of the Chinese market is impressive. Chinese customers are increasingly concerned about the performance of tooling products and the benefits of cutting tools. They want to find tool suppliers who can help them improve their productivity. At present, more and more international tool companies are setting up factories in China. Walter's new production base in Wuxi will become Walter's new global production center, which will have a high core competitiveness.
Walter's time to enter China is not too long, but our level in the Chinese market is relatively high, because we have high-performance tools, we are more concerned with providing customers with complete solutions. Of course, in addition to product performance, customers are also very concerned about price, and the competitive advantage of price is mainly occupied by some Chinese local tool companies.
I have been in China for 6 years. From the very beginning, I thought that the Chinese market is very big. Now I have deepened this understanding, and now the Chinese market is very competitive.
Peter Witteczek: I came to China in 1978. At that time, China gave me a deep impression that there were very few cars and only a lot of bicycles. Today, when I came again, I found that many cars on the roads even had traffic jams. The contrast between these two eras is very shocking for me, because it may take a hundred years in Europe to make such a huge change, and the time for Chinese society to experience this change is unbelievable.
Reporter: Are these three businesses in the Chinese market after the merger of the three brands all belong to Walter Greater China? How to achieve integration as soon as possible?
Paul Montgomery: Yes, now we are a company. There are three core brands under this company. The business in the Chinese market is unified to Walter Greater China.
Peter Witteczek: In order to achieve integration as soon as possible, we will hire more employees, more technical experts, and organize relevant personnel to the German headquarters for technical training, forming an excellent technical team to support the operation of the three brands in the Chinese market. Support the work of Greater China. At present, we have trained technicians in Germany, and they will return to China to continue to support the Chinese market in the future. At the same time, there are technical experts from Germany in our Greater China region to share their experiences.
Reporter: In the 1B10 strategy, Walter hopes to achieve sales revenue of 1 billion euros in 2010, so how much will the Chinese market occupy in this plan?
Peter Witteczek: I believe that China will have at least 10% of its 1 billion euros in sales revenue in 2010.
Reporter: We all know that OSG has already had equity cooperation with Toshiba Tailuo, and Walter has been relying on OSG before sales in Japan. Will this affect Walter's strategy in the Japanese market? Walter also opened a factory in Japan. Why choose a market like Japan that is very protective and even has certain risks to enter?
Peter Witteczek: Indeed, OSG and Toshiba Tailuo have produced a number of equity transactions, and we have had agreements and cooperation with OSG very early. Recently we have had some discussions, and OSG will continue to help Walter achieve sales in Japan. Of course, this kind of assistance sales is only in Japan, and this phenomenon will not happen in other countries.
As for the Japanese factory, my opinion is that Walter can enter other markets and also enter the Japanese market. Japanese machine tools also want to be equipped with some European tools, including Walter's tools.
Reporter: Walter's new Wuxi plant is about to start. At this time, China's economic situation and the Chinese market are facing some uncertain factors. Have you considered whether it is really worth investing in a new factory at this time?
Paul Montgomery: Walter has been established in Wuxi for 12 years, and we have grown and developed over the past 12 years. No matter how the market changes, I think that the current situation has been unable to adapt to the company's continued development, and we need to invest in new plants.
Moreover, my prediction of the development of the Chinese market is still positive and optimistic. I believe that even after ten years, the Chinese market will still be very good.
Reporter: The release of the new logo, the investment of the new Wuxi factory and the new factory in Japan, and the proposal of the 1B10 strategy are a series of big moves for Walter. What are Walter's pursuit behind these? Is the relatively large market share or the global ranking jump?
Peter Witteczek: Obviously, we really hope to get a bigger market share. As for the global ranking, we hope to be able to enter the top three.
The new company logo is based on the Walter word, and makes full use of the original Walter, Titex, Prototyp colors, the latter two become a part of the new logo in the form of color, expressing the fusion power of the three brands. At the same time, Titex and Prototyp continue to exist as brand logos, which are represented by red or yellow logos that symbolize their respective brands under the corporate logo.
Today, customers need suppliers with strong core competencies and a wide range of products. The processing of new and more composite materials requires finding integrated solutions from a single supplier to reduce suppliers and reduce the complexity of production management. The key question is whether suppliers can offer a wide range of products. . Walter saw this accurately and hopes to have such advantages through integration.
After brand integration, Walter will be a provider of integrated solutions from a one-stop supplier: Walter Group was founded in 1919 as a leading manufacturer of tools for carbide turning, drills and milling cutters. One; Walter Titex is a globally renowned brand of high performance drills, HSS (E) boring tools and solid carbide knives; Walter Prototyp is the overall hard of innovative thread knives, HSS (E) milling cutters and high-tech coatings. The leading brand of alloy tools. The new corporate logo represents the company's transformation, and the Walter Group is not only committed to providing high-quality tools, but also provides reasonable advice for customers from the initial selection of the tool to the subsequent practical application.
Here, Peter Witteczek also answered questions from reporters about Paul Mgomery.
Reporter: How do you view China's tool market? How to evaluate this market?
Paul Montgomery: The development of the Chinese market is impressive. Chinese customers are increasingly concerned about the performance of tooling products and the benefits of cutting tools. They want to find tool suppliers who can help them improve their productivity. At present, more and more international tool companies are setting up factories in China. Walter's new production base in Wuxi will become Walter's new global production center, which will have a high core competitiveness.
Walter's time to enter China is not too long, but our level in the Chinese market is relatively high, because we have high-performance tools, we are more concerned with providing customers with complete solutions. Of course, in addition to product performance, customers are also very concerned about price, and the competitive advantage of price is mainly occupied by some Chinese local tool companies.
I have been in China for 6 years. From the very beginning, I thought that the Chinese market is very big. Now I have deepened this understanding, and now the Chinese market is very competitive.
Peter Witteczek: I came to China in 1978. At that time, China gave me a deep impression that there were very few cars and only a lot of bicycles. Today, when I came again, I found that many cars on the roads even had traffic jams. The contrast between these two eras is very shocking for me, because it may take a hundred years in Europe to make such a huge change, and the time for Chinese society to experience this change is unbelievable.
Reporter: Are these three businesses in the Chinese market after the merger of the three brands all belong to Walter Greater China? How to achieve integration as soon as possible?
Paul Montgomery: Yes, now we are a company. There are three core brands under this company. The business in the Chinese market is unified to Walter Greater China.
Peter Witteczek: In order to achieve integration as soon as possible, we will hire more employees, more technical experts, and organize relevant personnel to the German headquarters for technical training, forming an excellent technical team to support the operation of the three brands in the Chinese market. Support the work of Greater China. At present, we have trained technicians in Germany, and they will return to China to continue to support the Chinese market in the future. At the same time, there are technical experts from Germany in our Greater China region to share their experiences.
Reporter: In the 1B10 strategy, Walter hopes to achieve sales revenue of 1 billion euros in 2010, so how much will the Chinese market occupy in this plan?
Peter Witteczek: I believe that China will have at least 10% of its 1 billion euros in sales revenue in 2010.
Reporter: We all know that OSG has already had equity cooperation with Toshiba Tailuo, and Walter has been relying on OSG before sales in Japan. Will this affect Walter's strategy in the Japanese market? Walter also opened a factory in Japan. Why choose a market like Japan that is very protective and even has certain risks to enter?
Peter Witteczek: Indeed, OSG and Toshiba Tailuo have produced a number of equity transactions, and we have had agreements and cooperation with OSG very early. Recently we have had some discussions, and OSG will continue to help Walter achieve sales in Japan. Of course, this kind of assistance sales is only in Japan, and this phenomenon will not happen in other countries.
As for the Japanese factory, my opinion is that Walter can enter other markets and also enter the Japanese market. Japanese machine tools also want to be equipped with some European tools, including Walter's tools.
Reporter: Walter's new Wuxi plant is about to start. At this time, China's economic situation and the Chinese market are facing some uncertain factors. Have you considered whether it is really worth investing in a new factory at this time?
Paul Montgomery: Walter has been established in Wuxi for 12 years, and we have grown and developed over the past 12 years. No matter how the market changes, I think that the current situation has been unable to adapt to the company's continued development, and we need to invest in new plants.
Moreover, my prediction of the development of the Chinese market is still positive and optimistic. I believe that even after ten years, the Chinese market will still be very good.
Reporter: The release of the new logo, the investment of the new Wuxi factory and the new factory in Japan, and the proposal of the 1B10 strategy are a series of big moves for Walter. What are Walter's pursuit behind these? Is the relatively large market share or the global ranking jump?
Peter Witteczek: Obviously, we really hope to get a bigger market share. As for the global ranking, we hope to be able to enter the top three.
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