Global Fastener News

Wurth Breaks Two-Digit Billion Sales Goal;
Seeks 16% of Worldwide Fastener Market

John Wolz

The Wurth Group announced it met the goal set in 1987 by Reinhold Wurth to reach DM10 billion in sales by 2000.
Worldwide sales for the Kunzelsau, Germany-based Wurth Group grew 25% over 1999 to reach DM10.04 billion (equivalent to US$4.83 billion).
Wurth set a new goal of increasing the groups worldwide market share from 4% to 16%.\
“In the coming 10 years we will be able to think in dimensions of sales of DM20 billion to 30 billion,” the chair of the privately held Wurth Group predicted.
The company is forecasting a 12% to 15% sales growth in 2001, with a 6.5% rate of return.
For 2000, the Wurth Group reported 13.1% of the growth was organic and the remaining from acquisitions.
While sales grew at a 25% pace, employment increased 15.7% to 36,096 at the end of 2000. A majority of personnel 18,459 are in sales. One third 12,596 are based in Germany.
During 2000 Wurth Group started new companies in Egypt, the Netherlands, Slovak Republic and Hungary. Wurth Group now has 236 companies in 76 countries.
Reinhold Wurth was 19 years old when he took over the Swabian screw shop upon the sudden death of his father.
Only in 1975 one year of the companys 56-year history did Wurth Group suffer a sales decrease.
Reinhold Wurth remembers 1966 as a difficult year because Germany was shaken by its first deep recession after World War II.
“In the automotive sector, people were dismissed, and companies closed down,” Wurth recalled.
But instead of complaining about the bad economic situation, Wurth sought to “spread optimism” and announced a goal to triple the number of salespeople from 35 to over 100.
“Everyone roared with laughter at their boss,” according to the company. “But his forecast came true, just a lot earlier.”
By 1978 Wurth Group reached DM330 million in sales, and Wurth predicted sales of DM 1 billion by 1985. Sales were at DM 1.34 billion when he announced his Vision 2000 goal of 30,000 employees and worldwide sales of DM10 billion.
“Visions set unexpected energy free and are extremely vital for long-term business success,” Wurth said of his strategy.