Peguform’s new CEO, Gerhard Bőhm, is expecting the company to turn a profit this year, reports Automobilwoche.
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Peguform went into bankruptcy in 2002 and at the beginning of 2005 was taken over by US venture capitalists Cerberus. This has boosted confidence in the company and as a result it has won some new contracts in Germany this year. Peguform’s largest customer is the Volkswagen Group, which accounts for more than half of its €1.4 billion turnover, reports the newspaper.
Bőhm is in the process of setting up two internal programmes to improve quality and reduce costs. A quality offensive includes improving second tier supplier quality. Bőhm told Automobilwoche that the level of quality in the German supplier industry still has much room for improvements with some suppliers delivering faulty parts at a rate of 3,000ppm.
Another important area is to increase production in low cost countries. A decision has already been made to build a second plant in eastern Europe. Apart from one location in the Czech Republic all other European Peguform plants are in Germany or Spain. Peguform also has plants in Mexico and Brazil. In its effort to become a truly global company Bőhm told Automobilwoche that the company is looking for a partner in Asia.
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