For In-House Production Dr. Schneider Buys Electronics Production from Loewe

Dr. Schneider ist ein weltweit agierender Automobilzulieferer mit Hauptsitz in Kronach.
Dr. Schneider is a global automotive supplier headquartered in Kronach, Germany.

The automotive supplier Dr. Schneider has bought part of the insolvent TV manufacturer Loewe.

The Dr. Schneider Group concentrates on car interiors and is a worldwide partner of OEMs and various system suppliers. With the advancing electrification of vehicles, the internationally active automotive supplier from Kronach-Neuses has to deal more and more with electronic components, which are still purchased without exception. This has led to strategic considerations, e.g. to expand the product portfolio with electronic components through partnerships and/or in-house production, thus securing the company's long-term sustainability.

Since June 2019, Dr. Schneider's research and development department has been working intensively on the production of electronic components and test equipment for electromagnetic compatibility (EMC). An internal Dr. Schneider business case has shown that the in-house production of this new branch of production will help Dr. Schneider to move forward in the future, the company announces.

The events at Loewe prompted the management to examine the existing electronics and EMC equipment and to participate in the bidding process for this part of the business - successfully.

This means that Dr. Schneider will begin electronics production on Loewe's premises in the second half of 2020. Dr. Schneider saves external services by being able to carry out his own EMC measurements; in addition, these can be offered on the market. "We are confident that this decision will underscore the competitiveness and thus future viability of the Dr. Schneider Group. summarizes Wilhelm Wirth, Commercial Managing Director.

Negotiations on Loewe's other assets are continuing. The Cypriot Skytec Group is the most in discussion as the new owner. According to the insolvency administrator Rüdiger Weiß of the Wallner/Weiß law firm, Skytec has meanwhile secured Loewe's name rights.