New production facilities and Software Competence Center in China strengthen position in Asia. In preparation for further growth in Asia, Wincor Nixdorf set up a new and expanded production facility in Shanghai/China in the period under review. The unit also includes a Software Competence Center. Production floor space has thus been trebled. The Company‘s latest move in Asia clearly underlines the future importance of the new production site within the global manufacturing network operated by Wincor Nixdorf. The Software Competence Center forms part of the international software development network established by Wincor Nixdorf. Its main purpose is to facilitate the integration and adaptation of internationally available Wincor Nixdorf software in China and Asia, thereby contributing to the expansion of Wincor Nixdorf‘s solution business in the region.
Stronger focus on business in emerging markets. Alongside its activities in Asia, the Company has also been benefiting from economic growth in other regions. Within this context, Wincor Nixdorf has followed its global customers as they expand into new markets. In parallel, there is an emphasis on establishing customer relations with local suppliers who are currently ramping up their business within the areas of retail banking and the retail trade. Growth in Eastern Europe remains buoyant. Beyond that, business in the Middle East/Southern Asia and North Africa has been gathering momentum. In response to this trend, a newly established subsidiary in Algeria commenced operations at the beginning of 2007. Using this location as a base, the Company aims to expand into the promising North African market.
Changes to Supervisory Board and Board of Directors. On conclusion of the Annual General Meeting of Shareholders on January 29, 2007, changes to the chairmanship of both the Supervisory Board and the Board of Directors of Wincor Nixdorf AG came into effect. Karl-Heinz Stiller stepped down from his position as President and CEO. He was elected to the Supervisory Board as the successor to Johannes Huth and was subsequently appointed Chairman of this body. Eckard Heidloff assumed his responsibilities as the new President and CEO of the Company. Dr. Jürgen Wunram was appointed as the new Chief Financial Officer effective from March 1, 2007.
Capital increase and stock buy-back to service share option plans. With effect from March 22, 2007, Wincor Nixdorf AG implemented the capital increase out of company reserves, as agreed by the 2007 Annual General Meeting of Shareholders, by issuing new shares in a ratio of 1:1. The capital increase had come into effect upon entry in the Commercial Register on March 14, 2007. In total, 16,542,494 bonus shares were issued. Thus, the Company‘s share capital doubled from €16,542,494 to €33,084,988. In addition, on the basis of the authorization granted by the 2007 Annual General Meeting of Shareholders, the Board of Directors passed a resolution for the repurchase, as from March 15, 2007, of up to 185,000 Company shares (after stock split: 370,000 shares) via the stock exchange.