German corporation becomes European

The German joint-stock company Ziehl-Abegg has been converted into a European Company, a so-called Societas Europaea. From now on, the company will operate as Ziehl-Abegg SE. "This will further drive the expansion of the company, which already successfully operates beyond the borders of Germany," says CEO Peter Fenkl.

For business partners, nothing changes with the new legal form. New is the installation of a European Works Council, in which European employees work alongside German colleagues on equal terms. "This is not a problem for us at all, as we already have a works council in Germany with whom we have been working constructively for decades," says HR Director Achim Curd Rägle. The employee representation will now be much more European in nature.

The chairman of the works council, Otto Reinhardt from Künzelsau, also expresses satisfaction with the completed co-determination agreement: "Through several negotiation rounds, we have achieved a very fair form of co-determination and information for our European employees."

"The company headquarters remains Künzelsau as before," explains CEO Fenkl, adding to dispel rumors: "Of course, there will be no changes to the tax obligations either." The company will continue to be a privately held company not listed on the stock exchange and entirely family-owned.