With this decision, WITTE Automotive stays abreast of the company’s  business strategy  to expand the portfolio in its own core segments and  further extend its position as leading  supplier of mechatronic locking systems. In fact,  with the acquisition of Fingscheidt,  WITTE will be able to strengthen its leading role in the range of seating components, door stops and door handle systems – mainly with premium car makers such as Mercedes-Benz, BMW und Audi. Furthermore, the company will achieve additional production capacities, necessary for its own organic growth.

“Fingscheidt is  a perfect choice to become our competent partner –  its proximity to our company –  to supplement our production program”, explains Rolf-W. Walter, CEO of WITTE.  After going through a difficult time in recent years, Fingscheidt recorded a successful restructuring process also with the support of  staff, shareholders and customers. The production portfolio was strategically extended by the new management, whilst customer relations were re-orientated leading to a swift increase of new orders for volume business.

“Scheduled investments due to this growth put the issue of strategic partnership in the foreground“, says Nicolas Pallis, CEO of Fingscheidt. ”during this process, WITTE Automotive emerged as our ideal partner“, Pallis continues.

The  management of both companies are confident about the positive prospects for both companies in the market.  This is yet another reason for WITTE to operate the company under the name Fingscheidt, which enjoys  a long tradition. “WITTE has already proven its ability to integrate suitable companies efficiently several times“, explains Rainer Gölz, CEO of WITTE, and adds: “By this step we wish to emphasize our responsibility for the location and - by increasing competitiveness for both companies - provide our part for the safeguarding of  jobs in the ‘key region’“. Continuity will also be maintained in the person of Nicolas Pallis, as Fingscheidt´s CEO.