Würth takes stake in Italian wholesaler
Würth has bought into the Italian electrical wholesale company MEF in Florence.
This family-run firm was founded in 1968 and employs approx. 500 people in 32 branches, making a turnover of more than EUR 120 m in 2014. Managing director Leonardo Giaffredo, who will continue to run MEF, is convinced that Würth’s participation could be a springboard for further activities in Italy.
Würth Electrical Wholesale Company (WEG) is led abroad by Ulrich Liedtke, while Uwe Schaffitzel is responsible for the home business.
The turnover of the Allied Companies Division, to which the electrical wholesale business also belongs, amounted to EUR 1,010 m in 2014, which was 3.4% higher than the prior year. EUR 894.8 m of this figure was generated in Germany (+3%) and EUR 115.2 m abroad (+6.1%).
The Würth group as a whole broke the EUR 10 bn turnover barrier for the first time in its last business year, which seems to have generated a reasonable amount of self-confidence, so that now its first strategic cooperation abroad for years has been ventured upon.