hoerbiger yearbook 2015/2016 proven. the … · „performance counts. this is the performance...

„Performance counts. This is the performance expectation that unites the people of HOERBIGER. Wherever we operate, we set standards

with the unique features of technologically sophisticated key components and services, and thereby

enable our customers to sustainably increase their company value.“

HOERBIGER YEARBOOK 2015/2016

PROVEN. NEW. GROWING.NOW!

FOREWORDPositioned Well forExcellence & Growth4–17

CEO STATEMENTPROVEN. NEW. GROWING.NOW!18–27

HIGHLIGHTS28-41

GROUP PROFILEIncreased Engagement,Overcame Challenges42–67

COMPRESSION TECHNOLOGyKeeping an Even Keel68–91

DRIVE TECHNOLOGyDelivered on Promise –Excellent Job92–105

HyDRAULIC SySTEMSCompact Power106–113

TABLE OF CONTENT

STANDARDS SINCE 1895Stability and Continuity114–121

TOGETHERCooperation and Leadership122–125

PRODUCTS AT A GLANCEPerformance-defining126–127

LOCATIONSClose to Customers Worldwide128

CORPORATE STRUCTURE OF THE HOERBIGER HOLDING AG

HOERBIGER IN FIGURES

Sales * (in EUR million) 2015 Ratio in % Δ in % 2014 Ratio in %

HOERBIGER Group 1.115,1 100,0 +2,5 1.088,2 100,0

Compression Technology SBU 640,8 57,5 +3,5 619,1 56,9

Drive Technology SBU 357,9 32,1 +5,4 339,4 31,2

Hydraulic Systems BD 110,5 9,9 –10,2 123,1 11,3

Corporate 5,9 0,5 –10,6 6,6 0,6

* (without intercompany sales, including Business Segments newly assigned in 2015 annualized)

Board of Directors

Dr. Marcus Flubacher, President | Dr. Gerd Unterburg, Vice President

Dr. Andreas Hünerwadel | Dr. Rudolf Huber | Dr. Manfred Reichl | Egbert Appel

Executive Board

Dr. Martin Komischke, Chairman

Thomas Englmann | Charles Friess | Johann Hipfl | Gerhard Wagner

Strategic Business Unit

Compression Technology

Johann Hipfl


Automation Technology

Thomas Englmann

Business Division

Hydraulic Systems

Dr. Martin Komischke

interim


Finance | Controlling

Charles Friess

Corporate

Human Resources

Gerhard Wagner

We run our businesses based on our Corporate values: Pioneering Spirit, Courage, Fairness and

Closeness. These values are the foundation of our Corporate Culture and HOERBIGER’s success.

Every day we are faced with decisions about what is right or wrong. Even in complex situations

our pace is fast. For this the Code of Conduct provides definite and clear directions.

The Code of Conduct affirms our commitment to Business Excellence. It is a commitment which we

give to our customers, and to each other: We will act with personal integrity and in compliance with

legal and ethical principles at all times.

With our Code of Conduct we also recognize our social responsibilities as a globally active company.

We respect and support the goals as of relevant international conventions such as the United

Nations Global Compact.

All HOERBIGER employees must be familiar with the Code of Conduct and follow its letter and

spirit; the Code applies worldwide. We are convinced that our customers and other business partners

will honor that we conduct our business with personal integrity and in compliance with legal and

ethical standards.

We manage our company by striving for highest standards of business excellence: because

performance counts.

CODE OF CONDUCTOur commitment to integrity and compliance

We conduct our business with respect for human dignity, in recognition of human rights, and in

accordance with applicable laws.

We are committed to economically and environ-mentally sustainable business practices.

We provide safe working conditions.

We continuously develop the abilities of our employees, and evaluate performance objectively.

We show mutual respect as we collaborate across cultures.

We recognize the freedom of association of our workforce.

We conduct all our business with integrity and transparency. We oppose corruption.

We deliver superior products and services to our customers. We support free and fair competition, and we comply with relevant competition laws.

We take due care in the selection of our business partners. We comply with export controls and anti- money laundry regulations.

We treat our suppliers fairly. We expect our suppliers to strive towards the same high standards for

business conduct and product quality that we have set for ourselves.

We protect proprietary business information, private data, and intellectual property rights. Proprietary company information and data may be released to third parties only with prior authorization.

We keep accurate records, and guarantee complete reporting of financial and operating information to management, shareholders, and third parties.

We act with integrity and honesty at all times. We will declare potential conflicts of interest. We will protect the company’s assets, and will not use our position at HOERBIGER for personal gain.

We take pride in HOERBIGER. We protect the good reputation of our company as well as the image and the value of the HOERBIGER brand.

We accept the challenges of ethical conduct. In critical situations we will support each other to

keep our commitments to move HOERBIGER forward.

PROVEN. NEW.GROWING.NOW!

Dr. Marcus FlubacherPresident of the Board of Directors

HOERBIGER Holding AG

Ladies and gentlemen,

fellow employees,

The HOERBIGER Group closed out the 2015 fiscal year with sales of 1.115 billion euros, exceeding the previous year’s level of 1,088 million euros by 26.9 million euros. This equates to an increase in sales of 2.5 percent. The Group’s earnings before interest and taxes in 2015 were 71.4 million euros.

This result was supported in particular by the positive trend in our Drive Technology Strategic Business Unit. In 2015, Drive Technology developed in an outstanding way and acquired a number of new orders that will ensure continued growth in the coming years.

POSITIONED WELLFOR EXCELLENCE& GROWTH

FOREWORD

In contrast, the market environment was much more difficult for the Compression Technology

Strategic Business Unit than we anticipated even a year earlier. Key aspects were the growing

restraint in the oil and gas industry in terms of new investments and service orders, prompted

by the collapse in the price of oil, and the continued uncertain markets in Latin America.

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Contributing approximately 58 percent to total revenue, the Compression Technology

Strategic Business Unit nonetheless remained the backbone of the Group. With the successful

expansion of our new Safety Solutions Business Segment in 2015, in spite of difficult market

conditions, the Strategic Business Unit positioned HOERBIGER in this extraordinarily

attractive growth market in exemplary fashion.

The Hydraulic Systems Business Division accounted for approximately 10 percent of

corporate sales in 2015 and overall held its ground well, despite a challenging market.

I would like to express the Board of Directors’ gratitude and recognition to the Executive

Board, our senior managers, and all employees for their remarkable commitment in what

was at times an extremely difficult market environment.

Acting with a long-term view

The HOERBIGER Group is positioned well with its strategically balanced portfolio.

This allowed us to move forward with our growth projects, which strive for longevity and

sustainability. The Executive Board and our senior managers in 2015 again expedited

projects and initiatives that are tied to our Mission Excellence & Growth with great

dedication.

Formulating growth

Our future plans provide not only for organic growth, but also for strategically important

growth options through acquisitions to a greater degree than before. The objective is to

develop the broader expertise needed to stay competitive internationally, and purposefully

employ additional synergies in the cultivation of our markets.

With this in mind, the Board of Directors and the Executive Board implemented several

projects in 2015 to optimize the existing acquisition processes. These projects also prompted

a new orientation for Corporate Business Development.

Strengthening processes

At just over one billion euros in sales, and as a result of recent growth plans, the HOERBIGER

Group has reached a size that makes it necessary to critically assess and strategically reorganize

proven workflows and processes so as to efficiently consolidate the increasing complexity of

the procedures and decision-making processes that comes with added growth.

The Board of Directors therefore supports the Executive Board’s extremely important strategic

initiative that lies behind Project STREAM. This is designed to resolutely and systematically

address necessary process optimizations throughout the company as a result of the Group’s

growing complexity.

With great appreciation, we notice the high levels of engagement by senior managers and

employees who play an active role in this strategically important project. Their collective

work on the future of the HOERBIGER Group takes them well beyond the challenges of their

day-to-day business.

Expediting compliance

Our business partners recognize and appreciate our Corporate Governance and our initiatives

to increase compliance.

In the future, governance and compliance will form the premise for new business relation-

ships and sustainable corporate success to a decisive degree. We will therefore continue to

expedite the implementation of a consistent compliance system.

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Generational change

Effective June 30, 2016, we will undergo an important generational change in the HOERBIGER

Group on the Executive Board and the Board of Directors of HOERBIGER Holding AG, and

on the Board of Trustees of the HOERBIGER Foundation.

Together with my Vice President Dr. Gerd Unterburg, I will step down from the Board of

Directors of HOERBIGER Holding AG and from the Board of Trustees of the HOERBIGER

Foundation.

We have prepared for this generational change, both on the Board of Trustees and on the

Board of Directors, for quite some time and with great diligence. In our deliberations, it was

particularly important to us to consider the requirements that our company, held by the

HOERBIGER Foundation and our family shareholder Christiana Hörbiger, places on the

indi viduals who work on our Group’s highest governing boards.

One particularly important concern was to ensure HOERBIGER’s continuity and stability

going forward, while preserving the character and nature of our family business, which is

steeped in heritage and values.

With this in mind, I am delighted that Dr. Martin Komischke will assume the office of

President of the Board of Directors of HOERBIGER Holding AG effective July 1, 2016.

Martin Komischke joined our company 23 years ago. Since 2004, in his capacity as CEO and

Chairman of the Executive Board, with the utmost dedication he has very successfully advanced

HOERBIGER into today’s strategically well-positioned global Group. I take this opportunity to

express to him the deep appreciation and gratitude of the Board of Directors and shareholders

of the HOERBIGER Group.

The Board of Directors and shareholders of the HOERBIGER Group have appointed

Dr. Jürgen Zeschky as CEO of the Executive Board and successor to Martin Komischke.

Dr. Zeschky is a high-level executive with international experience.

I am convinced that in our selection we have ensured that the HOERBIGER Group will

continue its existing successful development under new leadership. I wish Dr. Zeschky and his

colleagues on the Executive Board a good start in their shared future tasks, and I am confident

that their existing relationship with the Board of Directors will continue in a spirit of mutual

trust and cooperation.

On the Board of Directors of HOERBIGER Holding AG, Dr. Andreas Hünerwadel and his

colleagues on the Board will support Dr. Martin Komischke effective July 1, 2016, at which point

Dr. Hünerwadel will assume the position of Vice President of the Board of Directors, succeeding

Dr. Gerd Unterburg. I am delighted about this appointment as well.

Additionally, Dr. Hünerwadel will assume the office of President of the HOERBIGER Foundation

from me effective July 1, 2016. Within the HOERBIGER Foundation, Dr. Martin Komischke will

succeed Dr. Gerd Unterburg as Vice President.

Moment and impetus

Against the backdrop of the current generational change in the leadership of the HOERBIGER

Group, we will take the HOERBIGER Business Meeting in June 2016 as an opportunity to high-

light that our HOERBIGER Group – both through its new members on the Boards of HOERBIGER

Holding AG and of the HOERBIGER Foundation, and through its strategic orientation – is ideally

positioned for a continued successful future, based on excellence and important, further profit-

able corporate growth.

An important milestone in this process is also the opening of our new HOERBIGER location

in Vienna-Aspern, and the associated closure of the HOERBIGER plant and former HOERBIGER

head office in Vienna-Simmering.

It was in Vienna-Simmering that Alfred Hörbiger began in-house production of valves in 1931.

Following the reconstruction of HOERBIGER Ventilwerke in Vienna-Simmering, Martina Hörbiger

rebuilt the HOERBIGER group of companies during the postwar era, also establishing new

business relations with customers in Europe, the Americas, Africa, and Asia.

The managers of the HOERBIGER group of companies, appointed by Martina Hörbiger and

the Board of Trustees of the HOERBIGER Foundation, laid the basis in Vienna for the new

orientation of the HOERBIGER group of companies to evolve into today’s global HOERBIGER

Group strategically managed by the Board of Directors and the Executive Board.

The clean lines of the architectural style of our new building in Vienna-Aspern are intended

to uniquely embody the HOERBIGER character and nature. Our corporate values – Courage,

Pioneering Spirit, Closeness and Fairness – will be tangible in every detail to our international

business partners as well as our employees on a daily basis.

The modern design features of the HOERBIGER Forum, which is the focal point of the

building, document the evolution and future of HOERBIGER. The Forum very successfully

combines office space for managerial tasks, Marketing and Sales, along with Research and

Development, Production, and Logistics.

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The Hanns Hörbiger Room that we have created as part of the new building is intended to

symbolize, in a special way, how closely connected our global HOERBIGER Group today is

with his heritage and company history. In this connection, I want to express my gratitude and

respect in particular to our family shareholder Mrs. Christiana Hörbiger, who was personally

devoted to implementing the Hanns Hörbiger Room in our new building at the Vienna-Aspern

location. The result is an exceptional spot in which the special HOERBIGER spirit, which is

inextricably linked to our heritage, will remain tangible for future generations.

A message of thanks

I take this opportunity to thank all employees of the HOERBIGER Group for the confidence

placed in me in my capacity as President of the Boards of Directors and Trustees during my

21-year tenure, and for the tremendous warmth shown to me during the many visits to our

companies.

Over all the years, I have always performed my function as President of the Boards of

Directors and Trustees with pleasure and great passion for you, our shared success, and the

success of our HOERBIGER Group.

I equally thank my colleagues on the Board of Directors and the Board of Trustees, our

family shareholder Mrs. Christiana Hörbiger, and our external advisors on the Board of

Directors’ committees. It was a great pleasure to work with you for HOERBIGER. With your

expertise and wealth of experience, all of you aided in moving the HOERBIGER Group

forward on its existing successful path.

I would like to take this opportunity to express my particularly heartfelt thanks to my

colleague Dr. Gerd Unterburg, Vice President of the Boards of Directors and Trustees, for the

long-standing close working relationship marked by a special bond of trust in my duties on

these Boards.

I again express special recognition to the members of the Executive Board and the senior

managers of the HOERBIGER Group for the high level of personal commitment that the

responsible operational management of our Group commands. Additionally, my heartfelt

thanks also go to the spouses and families of our senior managers, as does my gratitude to

all our employees. They demonstrate great dedication in sharing the demands that the global

growth of our Group presents at all levels.

For our HOERBIGER Group and the people who support the development of our company

through their daily work, their talent and skills, I wish you a successful future with

HOERBIGER!

Dr. Marcus FlubacherPresident of the Board of DirectorsHOERBIGER Holding AG

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“OUR CUSTOMERS BUILD SMALLER COMPRESSORS

WITHOUT COMPROMISING

PERFORMANCE.”

COMPRESSION TECHNOLOGY

Compressors compress natural gas to transport it over long distances, for high-pressure

storage, and to allow it to be used in power plants and industrial processes.

HOERBIGER compressor valves and innovative control systems are key to compressor

performance. They save energy, increase reliability, and cut costs.

Thanks to the CP valve and the HydroCOM system, HOERBIGER is the world’s

innovation and technology leader for the performance-defining components

of reciprocating compressors.

Dr. Matthias Kornfeld

Fiber-reinforced non-metallic material makes HOERBIGER valves more durable and reliable than valves made entirely

of steel. Thanks to our valves’ flow-optimized design, our customers are able to build smaller and more cost-efficient compressors than their competitors, without compromising performance.

The HOERBIGER HydroCOM system precisely regulates the gas volume the compressor

has to provide at a given time. Over a longer period, that means significantly lower operating

costs. This benefits our customers and the environment.

Gas flows through our valves into reciprocating compressors, where it is compressed, and then flows back out. It contains all sorts of impurities: metal chips, dirt particles, and rust. Our modern high-performance valve plates withstand this enormous stress.

“WE SUPPLY SYNCHRONIZER SYSTEMS WITH PERFECT

QUALITY.”

DRIVE TECHNOLOGY

HOERBIGER is gaining traction with synchronizers that fit into even the smallest of spaces

and provide added performance. Our synchronizers combine maximum shifting comfort with

reliability and long life. That keeps our customers on track, even when they face

fierce competition.

HOERBIGER repeatedly sets new standards, especially in engineering and production –

with CompactLINE, for example, a powerhouse for compact transmissions.

HOERBIGER has been producing highly efficient synchronizer rings using metal forming and fine blanking processes for about two decades. We set standards.

This know-how has now made it possible to develop a complete synchronizer system with perfect quality and high stability. Virtually every part is produced by steel forming.

Götz Kwittner

CompactLINE also stands out in terms of another HOERBIGER core competence. Carefully crafted engineering packs maximum synchronizer performance into a small space. That saves weight too: CompactLINE is 35 percent lighter than traditional synchronizers. That makes the whole transmission considerably lighter and smaller, so automobiles of the future can be more powerful as well as more efficient.

“OUR HYDRAULICS TECHNOLOGY

IS UNRIVALED.”

HYDRAULICS

HOERBIGER hydraulics move, raise and lower things. They operate with speed, power, and

maximum precision.

Our lightweight Type 6 power unit opens and closes convertible tops in the smallest space.

It’s all possible thanks to sophisticated hydraulic interconnection technology, with unique

features not available elsewhere.

Klaus Stolle

How can we make hydraulics perform even better in a small space? That was our challenge.

We took our inspiration from electronics. It’s ingeniously simple. Rather like a circuit board

for electronic components, we mill narrow channels into the surface of a metal plate that

forms the heart of the hydraulic control and energy unit.

What looks like the conductive tracks on a circuit board actually performs a similar function. Except that in our control unit the logic connections carry hydraulic oil instead of electricity.

We form this hydraulic circuit board into a cylinder shape. That surrounds the

hydraulic pump, and the whole thing drops into an outer housing.

There you have it: our small, lightweight, yet powerful hydraulic power unit.

Dr. Martin KomischkeCEO and Chairman of the Executive Board


Ladies and gentlemen,

fellow employees,

2015 was a year filled with major challenges for the HOERBIGER Group, but also a year in which we very successfully took advantage of growth opportunities and inspired the continued development of our company through strategic initiatives.

Our portfolio is tailored to attractive technological niche markets in the energy, automotive and industrial sectors, with balanced ratios. Once more, this proved to be a stable foundation for the Group.

CEO STATEMENT

Compression Technology: Investment in future growth

The unpredictable collapse of the price of crude oil in 2015 significantly impacted development

in the Compression Technology Strategic Business Unit – in particular in North America,

where investments in infrastructure for the production and transport of natural gas, which

are closely tied to the production of shale oil, were scaled back drastically.

Business operations were additionally adversely affected by the continued difficult

political and economic environment in Latin America and Eastern Europe. Despite positive

currency exchange rate effects in relation to the US dollar, the operating result fell short

of our expectations.

PROVEN.NEW.GROWING.NOW!

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In spite of this enormous economic strain, we took a first step toward establishing the new,

strategically attractive Safety Solutions Business Segment by acquiring IEP Technologies,

LLC, Marlborough, Massachusetts, and invested in future growth with long-term vision.

Drive Technology: Excellent performance

The trend in the automotive industry, in contrast, was markedly positive. The world’s automotive

markets posted continued growth.

The Drive Technology Strategic Business Unit developed extremely positively in this

environment.

In 2015, the Strategic Business Unit successfully entered into a number of additional

long-term supply agreements, especially in China. The volume of these newly acquired orders

significantly surpassed the targets established in the strategic plan for the 2015 fiscal year.

In the coming years, the new business gained in 2015 will safeguard added growth.

Hydraulic Systems: Development as expected

In light of the challenging situation in the market, we are also very satisfied with the results

in the Hydraulic Systems Business Division.

We achieved sound growth rates, in particular in the existing business of the Compact

Motion Technology Segment. Integrated in 2015, this supplies components for applications

in mechanical engineering and medical technology, as well as for sport boats and recreational

vehicles.

In contrast, sales declined in the Roof Hydraulics Segment as a result of the decrease

in demand for convertibles worldwide.

Our portfolio sustained us in 2015

An increase in sales of just 2.5 percent, from 1.088 billion euros to 1.115 billion euros, and

a drop in the EBIT margin from 10.6 to 6.4 percent, are certainly not the year-end results we

had in mind.

The silver lining is that in 2015 we were able to maintain the previous year’s level of sales

thanks to our balanced portfolio and the stable position of the HOERBIGER Group.

In view of the challenges we were forced to deal with in 2015, this is an exceptional

performance. Our employees demonstrated outstanding commitment in every respect.

Our engagement remains excellent

Our outstanding engagement scores show me just how much we can rely on HOERBIGER

employees’ willingness to perform: an engagement figure of 64 percent clearly set us apart

from the industry average in 2015.

This high level of engagement demonstrates that the people of HOERBIGER see challenges

in a positive light, and that based on our corporate values – Pioneering Spirit, Courage,

Fairness and Closeness – we will continue to inspire motivation and team spirit in the future

and, consequently, new innovations and new business ideas.

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Together, we have traveled a successful path

After more than 23 years of operational responsibility, I will step down as Chairman of the

Executive Board effective July 1, 2016 and assume a new role with the HOERBIGER Group,

becoming President of the Board of Directors.

Important milestones during this time were the expansion of global corporate structures,

a consistent focus of the Strategic Business Units on high-sales technological niche markets

that met our stability criteria, and the development of new, cutting-edge business segments.

In 2004, we had set out to sustainably increase our sales of 607.8 million euros. And we

accomplished this goal, despite the global economic crisis in 2009.

By focusing on performance-defining components that offer unique selling propositions,

which in turn make lasting contributions to our customers’ added value, our Strategic Business

Units and Business Divisions gave the HOERBIGER Group a sustained competitive edge.

In Business Development, we developed new business ideas and business segments with

great success.

Corporate Human Resources has solidified and expanded its new role as a Business

Partner in recent years. We have filled our succession positions with managers and specialists

from within our own ranks. Our senior managers’ Success Profiles and the Performance

Management System, which has now been rolled out throughout the Group, value, recognize,

and reward individual performance more than ever.

Thanks to garnering top rankings in international competitions year after year,

HOERBIGER is considered a benchmark in the B2B environment when it comes to Corporate

Communications.

I’m delighted about all this, but also grateful – to our senior managers and our employees. I am

extremely grateful for the very close and constructive cooperation with the Board of Directors

during all the years I held the office of CEO, and for the trust that our shareholders, and most

notably our family shareholder Mrs. Christiana Hörbiger, and the entire Board of Trustees have

placed in me.

I would like to thank our business partners and customers for the confidence that you place

time and again in the development and consulting services of our employees, as well as in our

products and services. During all my years in operations, I always took a special interest in

the exchange and partnership with our customers. In my future capacity as President of the

Board of Directors, I will remain fully committed to ensuring that the HOERBIGER brand

continues to symbolize not only innovation and performance, but additionally – and more

importantly – proximity to the market and our customers. The Board of Directors of HOERBIGER

Holding AG appointed Dr. Jürgen Zeschky to succeed me as CEO and Chairman of the Executive

Board. I am delighted that in Dr. Zeschky we will have an accomplished individual at the helm

of the HOERBIGER Group, together with the Executive Board, to lead our continued path toward

success with a strong hand.

I would like to thank my colleagues on the Executive Board for the excellent working relation-

ship, which was always marked by mutual trust. In the decisions that we made together

for the HOERBIGER Group in the past years, I was able at all times to rely on a strong and

extremely competent team on the Executive Board.

I also would like to thank the employees in the Corporate Functions of HOERBIGER Holding AG

for their expert support in the development and implementation of our strategic objectives,

which was always based on partnership, respect and integrity. The professional work

delivered in recent years by the Corporate Functions gave me the confidence to hand over

a well-honed organization on a solid foundation to Dr. Zeschky.

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2016 will remain challenging – we will continue our course

The present fiscal year will again be filled with major challenges – especially in the Com-

pression Technology Strategic Business Unit. We do not expect a fundamental turnaround

in crude oil prices in the near future. The political and economic environment of our

Service business is also unlikely to change in either the mature or the emerging markets.

And yet, we will continue to grow in 2016. With our core competencies and our superb

resources, we will drive organic growth of the HOERBIGER Group and supplement our port-

folio with targeted, strategically well-balanced acquisitions.

Financially, HOERBIGER remains in an outstanding position to do this. We are able to

finance our growth initiatives from our strong cash flow and with a continued strong equity

capital base.

In the medium and long term, our growth prospects are outstanding

The HOERBIGER Group has outstanding growth prospects in the medium and long term.

With the initiatives launched as part of the Excellence & Growth mission in our

Strategic Business Units and Business Divisions, strong networks in Production and Procure-

ment, and effective yet lean Corporate Functions, we are in an excellent position.

In the Compression Technology Strategic Business Unit, innovative business models –

the REE initiative in the Service Division is a great example – will allow us to cater even more

strongly to the needs of our customers and develop new potential.

Proceeding from the acquisition of IEP Technologies, LLC, we will further bolster safety

technology and expand this new Business Segment. At the same time, the associated

synergistic use of our capabilities in a new market that is largely independent of the energy

sector is an investment in the stability of our portfolio.

In January 2016, we were able to expand the range of services of the Safety Solutions

Business Segment with the acquisition of Newson Gale, Nottingham, United Kingdom.

Newson Gale specializes in solutions dedicated to eliminating uncontrolled discharge of

static electricity and preventing ignition hazards in flammable and potentially explosive

areas. With explosion venting specialist BRILEX, in April 2016 we added another brand to

the HOERBIGER portfolio that is established in the safety technology field.

The order books of the Drive Technology Strategic Business Unit are well-stocked for 2016 and

the coming years as a result of contracts entered into in 2014 and 2015. We expect additional

growth momentum to come from the development and sales joint venture with Chengdu

HAONENG Technology Co., Ltd., Chengdu, China, which took effect on March 1, 2016 under

the name HAONENG HOERBIGER DriveTech (Shanghai) Co., Ltd (HHDTS). The joint venture

will cover the development, sale, and trade of synchronizer components and systems for

automobile transmissions in China.

The Hydraulic Systems Business Division will continue to post growth in its core business.

In the Loading Comfort Segment, the market launch of the innovative XETTO® loading and

unloading system will contribute to sales and earnings for the first time in 2016.

The deliberate and effective development of our employees and mentoring of our own

junior talent will ensure that our corporate culture – driven by our corporate values and the

high level of engagement of the people of HOERBIGER – will also prevail in the future.

Our growth is also due in no small part to the STREAM project that is now taking effect

throughout the Group. Optimized processes, and in particular the precision and speed of our

internal workflows, will play a vital role in our competitiveness going forward. In Production,

we have already decisively boosted our effectiveness and efficiency. STREAM is bound to

achieve comparable successes in our process flows as well.

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Our market environment demands action

The current market environment, with fierce competitive pressure in the international

markets and resulting narrow margins, forces us to take additional action.

We must take care of our customers’ needs even more intensively than in the past.

The key is to develop new business models that satisfy the needs of our customers, while

expediting the planned growth of the HOERBIGER Group.

If we then also succeed in developing greater market orientation – aided by sales

functions staffed with outstanding technical experts – and expanding our Management

Excellent in all areas, I anticipate major potential for a successful future of our Group.

Dr. Martin KomischkeCEO and Chairman of the Executive Board HOERBIGER Holding AG

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HIGHLIGHTS

2015

January

February

Support for Kempten University

The HOERBIGER Group will be sponsoring lecture hall V 409 at Kempten University,

Germany, for an initial period of five years. The HOERBIGER lecture hall is primarily a

venue for lectures on electrical engineering, business administration, and mechanical

engineering.

“Jugend forscht”/“Schüler experimentieren”Nine young researchers from the foothills of the Alps qualified for the Bavarian state

competitions “Jugend forscht” and “Schüler experimentieren”. Six out of a total of 57 projects

earned first place in the regional competition sponsored by HOERBIGER. Aside from the

regional victories, the judges – among them this year also five-times regional winner and

four-times state winner Max Burggraf – presented 22 additional awards.

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HOERBIGER website is now in Russian too

The HOERBIGER corporate website went live in Russian,

making it available in a total of eight languages.

The new language version allows Russian-speaking

customers and employees faster and more convenient

access to product and corporate information.

Sales office for Engine Solutions in China

In May, the Engine Solutions Business Segment opened a dedicated sales office in Suzhou,

China. Through this office the Group will support the sales force in China while intensifying

its partnership with industrial engine manufacturers and operators in the fast-growing

Asian markets.

Girls’ Day

On April 23, HOERBIGER participated in Germany’s

nationwide Girls’ Day for the 13th time: 13 students

between the ages of 11 and 17 learned about technical

jobs open to them at the HOERBIGER Training Center

in Peiting.

April

April

May

Project STREAM: Kick-off in Vienna135 HOERBIGER managers from eleven countries met in Vienna, Austria, from May 11 to 13

for the kick-off event of STREAM. The project, which had taken several months to prepare,

then began its roll-out through the Group. Its goal is to optimize corporate processes

and structures, standardize them across Strategic Business Unit and Business Division

boundaries, and harmonize them based on a uniform IT infrastructure.

May

March

April

Board of Directors and Executive Board in Dubai and Kuwait

During the first week of March, the Board of Trustees, Board of Directors and Executive

Board visited HOERBIGER Service Middle East FZE in Dubai and Kuwait, together with

family shareholder Christiana Hörbiger. Personal talks with local management and

employees, and visits to customers, conveyed a detailed impression of activities in the area.

Apprentices inform about technical professions

To encourage young people to choose technical professions, the employers’ associations for

the metalworking and electrical industries devised a special project. On a bus named the

“InfoMobil” they travel across the state to tell students about job profiles in these industries

in a practical context. The InfoMobil stopped at HOERBIGER in Oberstenfeld, Germany,

in April. Four apprentices from the Drive Technology Strategic Business Unit introduced

152 students to attractive trades at HOERBIGER.

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New Group structure pooling resources

To continue to best capitalize on the growth opportunities in the global markets,

HOERBIGER changed the Group’s organizational structure effective June 1. The Compact

Motion Technology Business Division was combined with the Roof Hydraulics and Loading

Comfort Business Segments to form a new Hydraulic Systems Business Division. The Valve

Automation Business Division was assigned to the Compression Technology Strategic

Business Unit. The Transmission Comfort Business Segment was integrated into the Drive

Technology Strategic Business Unit as the Commercial Vehicles Segment. Finally, the

existing Automation Technology Strategic Business Unit was dissolved.

Human Resources: Worldwide RoadshowOn July 13 in Dubai, managers from the Middle East Africa (MEA) and Asia regions learned

about current HR strategy topics and programs from Gerhard Wagner, Chief Human

Resources Officer and a member of the Executive Board, and his managerial team. Previously,

the sites in Munich, Vienna, Fort Lauderdale, and Deerfield Beach hosted the HR Roadshow.

In total, more than 300 senior managers took part in these informational events.

June

June

Tailor-made synchronizer system

With the ClassicLINE DCT-Type, HOERBIGER unveiled the world’s first synchronizer specifically

for dual-clutch applications at the VDI Congress in Friedrichshafen, Germany. The unique design

of the ClassicLINE DCT-Type optimizes all the features that are particularly relevant to dual-clutch

transmissions: installation space, shifting speed, reduced noise, and shifting quality.

Successful ACHEMA in Frankfurt am MainHOERBIGER highlighted four products at ACHEMA, the world’s largest trade show for

the petrochemical, process and chemicals industries in Frankfurt am Main, Germany.

The zero-leakage XperSEAL reciprocating rod seal, the eHydroCOM compressor control

system, the intelligent TriVAX™ actuator, and the new REE audit service offering drew

big crowds at the booth.

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June

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100,000 relief valves from Changzhou

In mid-2015, HOERBIGER (Valves) Changzhou Co. Ltd. in

China shipped its hundred thousandth relief valve. This

marked a key manufacturing milestone since the start of

series production in 2009. HOERBIGER relief valves offer

reliable protection from dangerous oil mist explosions in

the crankcases of large-bore engines.

3rd HOERBIGER Soccer Cup takes place in Schongau

A total of seven teams from four schools in Germany’s Weilheim-Schongau region faced

off during the third HOERBIGER Soccer Cup. The team from Schongau’s Welfengymnasium

preparatory school came out on top and took home the HOERBIGER challenge cup.

Operations International conference in Dresden is key success factorSome 90 operations managers from all the Strategic Business Units and Business Divisions

met in Dresden, Germany, from June 28 to July 1 to exchange ideas and experience on the

status and continued development of Operations in the HOERBIGER Group. The standardization

of technologies and processes, and the continuous pursuit of improvements, are key initiatives

that help the Group achieve growth.

June

July

August

50 years of club history at the Penzberg location

The company sports association at HOERBIGER’s Penzberg location in Germany was able to

look back on half a century of successful history: 40 employees had founded the association

on August 1, 1965. The board, members and friends of the club celebrated the milestone

anniversary with a Bavarian curling tournament, followed by festivities.

Topping-out ceremony at the new HOERBIGER Vienna siteOn August 27 it was time to celebrate in Austria: the topping-out ceremony was held at the

new HOERBIGER Vienna-Aspern site. The event marked an important milestone in the

timely progress of the construction project, which is slated for occupancy in May 2016.

Vienna-Aspern, Vienna’s Urban Lakeside, will be the combined location for approximately

500 employees who were previously spread across three sites in Vienna.

Historic Market in Schongau: coins for a good purpose

The excitement surrounding Schongau Summer was unabated even in the event’s 15th year.

The summer fest was an attraction for locals from the foothills of the Alps and vacationers

alike. The lively atmosphere extended to the HOERBIGER booth in the “Historic Market”,

where visitors minted a total of 1,900 tin coins as souvenirs. The donations received

in exchange amounted to around 1,400 euros and benefitted the St. Michael Integrated

Kindergarten.

August

August

August

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26 entry-level employees start their careers

In September, 26 young entry-level employees started their training at HOERBIGER's locations

in Germany. In the coming years they will learn commercial and technical professions in

the plants in Schongau, Altenstadt, Penzberg and Oberstenfeld. Four young men undergoing

a combined study/vocational training program are also among the apprentices.

HOERBIGER acquires IEP TechnologiesOn September 1, 2015, HOERBIGER acquired internationally renowned explosion protection

specialist IEP Technologies LLC, based in Marlborough, Massachusetts, USA. This acquisition

made HOERBIGER one of the world’s leading providers of sophisticated safety and explosion

protection technology for a broad range of industrial plant engineering applications.

September

September

Anniversary in Canada:10 years of HOERBIGER FineStampingHOERBIGER FineStamping Inc. in Waterloo, Canada, celebrated its tenth anniversary.

HOERBIGER invited all employees and their families to the anniversary celebration.

The 170 guests also included Dave Jaworsky, Mayor of Waterloo. At the Waterloo site,

HOERBIGER manufactures fine blanked parts for automatic transmissions.

CTI Symposium in Shanghai

In mid-September, Shanghai, China, was a magnet for specialists from the world of

transmissions. The CTI Symposium draws developers, suppliers, and buyers from

around the globe. HOERBIGER was present with a booth of its own. As part of a presentation,

the Group provided information on the influence of low-viscosity gearbox oil on the

performance of synchronizers.

Kick-off event for the EvoLET research program

More than 200 engine experts attended the kick-off event of the Evolutionary Large Engines

Technology – EvoLET for short – research project at the Large Engines Competence Center

at Graz University of Technology, Austria. The goal of the program is to develop next-generation

combustion technologies for gas and dual-fuel engines. HOERBIGER is working with the

university as a founding member and research partner.

September

September

October

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HOERBIGER Safety Solutions: first joint trade show presentation

At their first joint trade show presentation, IEP Technologies and HOERBIGER showcased their

comprehensive explosion mitigation portfolio at the international schüttgut trade show in

Dortmund, Germany. They used the event as a backdrop to introduce IEP Technologies as a new

member of the HOERBIGER Group to an interested trade audience

Health campaign in the USA promotes breast cancer awarenessFor the third time in a row, HOERBIGER employees worldwide supported Breast Cancer

Awareness Month with personal donations. This is an international campaign held annually

in October to increase awareness of the risks of breast cancer.

October

November

MEDICA in Düsseldorf: trade show of superlatives

Attended by more than 130,000 visitors, MEDICA in Düsseldorf, Germany, is the uncontested

leading international hub for medical technology. “Medical boards,” in which physicians

as well as those responsible for commercial aspects have a say in investment decisions,

were again a central topic in 2015. This is fine with HOERBIGER: The Group’s products offer a

number of unique selling propositions that not only distinguish them from the competition

technologically, but also make them attractive economically.

Employee engagement has increased again: 64 percent

Compared to last year, employee engagement in the HOERBIGER Group improved by one

percentage point in 2015, to 64 percent. This is a very pleasing result in view of the very

difficult market environment for the HOERBIGER Group, and it clearly exceeds the global

industry average.

November

November

November

Vivid interest in HOERBIGER TriVAX™The 2015 German Industrial Valve Trade Show (DIAM) in Bochum, Germany, was a smashing

success for HOERBIGER. A large number of end users and equipment manufacturers took

advantage of the opportunity to learn about the benefits of the HOERBIGER TriVAX™ valve

actuator, which combines maximum safety standards with extremely simple installation

and operation.

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Christiana Hörbiger awarded title of Honorary SenatorIn an academic ceremony, Vienna University of Technology, Austria, conferred the title

Honorary Senator (Senator h.c.) upon Mrs. Christiana Hörbiger on Friday, December 4, 2015.

Christiana Hörbiger is the family shareholder of the HOERBIGER Group and Vice President

of the HOERBIGER Foundation. The accolade honored her exceptional dedication to the

University.

December

Dr. Jürgen Zeschky becomes designated CEOHOERBIGER announced an important step that sets the course for the future. Effective July 1,

2016, Dr. Martin Komischke, CEO and Chairman of the Executive Board since 2004, will

become a member of the Board of Directors. Assuming the duties of Dr. Marcus Flubacher,

he will serve as the Board’s President. Dr. Jürgen Zeschky was appointed to succeed

Dr. Martin Komischke as CEO and Chairman of the Executive Board.

December

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INCREASED ENGAGEMENTOVERCAME CHALLENGES

GROUP PROFILE

In 2015, HOERBIGER strove to launch new growth initiatives in all the Strategic Business Units and Business Divisions. With great dedication, our employees helped to ensure that we were able to systematically pursue our strategic targets, despite the challenges in our markets.

An important boost for the implementation of our growth objectives was the acquisition of

IEP Technologies, LLC, effective September 1, 2015, and the associated development of the

new Safety Solutions Business Segment in the Compression Technology Strategic Business

Unit.

The completion of the new HOERBIGER site in Vienna-Aspern, the consolidation of

production in North America, which was associated with significant investments, and the

expansion of the infrastructure of numerous service branches are other important steps

in creating a long-term and effective competitive position for the Group.

In the Drive Technology Strategic Business Unit, localization in China was consistently

advanced. Additionally, a number of initiatives were launched under the motto “Beyond

Synchro” that are geared to the vehicle drive trains of the future.

Project STREAM was defined by the Executive Board in 2014 to establish a modern,

standardized, and accordingly efficient process landscape. In 2015 STREAM gained considerable

traction as it entered the implementation phase. Some 140 employees from all the Strategic

Business Units and Business Divisions analyzed and revised approximately 350 individual

processes and reviewed the new workflows. A total of nine end-to-end process teams are

working on STREAM.

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Charles FriessCFO and Deputy Chairman of the Executive Board


“ In financing our growth, we can draw on strong cash flow and our sound equity capital base.”

Megatrends are driving long-term growth

Despite recent challenges, especially in the Compression Technology Strategic Business Unit,

the HOERBIGER Group continues to generate stable growth in all the Strategic Business Units

and Business Divisions.

Our growth is driven by three global megatrends:

Energy demand for the world’s population and the global economy will continue to rise.

Despite presently low crude oil prices, natural gas will remain one of the most important

global sources of energy, alongside a modestly growing share of renewable energies. Energy

efficiency and emissions reduction will become increasingly important in the future.

As a pioneer and trendsetter for key components used in machines and plants in the gas

and process industries, this trend will continue to benefit HOERBIGER long-term.

Mobility of people will continue to rise, most notably in Asia and the emerging markets.

This will benefit HOERBIGER in Drive Technology.

A third megatrend that comes with increasing prosperity is the growing worldwide need

for safety. Companies that offer key technologies in the safety technology field, including

HOERBIGER, have the best chances to continue to grow as a result of this megatrend.

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43 % Energy

38 % Automotive

19 % Industry

Lasting success thanks to balanced portfolio

With the unique selling propositions of our products, systems and services, we make a lasting

contribution to the added value of our customers in the oil, gas, and process industries,

in mechanical and plant engineering, and in the automobile industry.

2015 confirmed just how important our balanced corporate portfolio and the stable

positioning of our Strategic Business Units and Business Divisions in the energy, automotive

and industrial sectors are for HOERBIGER’s stability and growth.

Our portfolio helps us effectively pursue our strategic goals, develop our capabilities and

potential, and take advantage of the opportunities in our markets for our growth plans, even

in difficult years.

Corporate portfolio of HOERBIGER Holding AG

Status date: 2015

Our Strategic Business Units and Business Divisions

The Compression Technology and Drive Technology Strategic Business Units and the

Hydraulic Systems Business Division are the operational units of the HOERBIGER Group.

In 2015, the Compression Technology Strategic Business Unit accounted for approximately

58 percent of corporate sales. The Drive Technology Strategic Business Unit provided

approximately 32 percent of sales, and the Hydraulic Systems Business Division approximately

10 percent.

Compression Technology Strategic Business Unit

The products and solutions of the Compression Technology Strategic Business Unit are based

on know-how and technologies that HOERBIGER has developed in reciprocating compressor

valves over more than 120 years, starting with Hanns Hörbiger’s ground-breaking invention of

the steel plate valve. The success of the Business Unit has always been based on technological

solutions that offer big benefits for customers.

OEM DIVISIONThe OEM Division includes the Compressor Solutions, Serial Compressors, Safety Solutions,

and Engine Solutions Business Segments.

Compressor Solutions Business SegmentIn view of the large number of reciprocating compressors operating globally in gas compression,

the oil, gas, and process industries are traditionally the most important sales markets for the

Compression Technology Strategic Business Unit. For 120 years the Compression Technology

Strategic Business Unit has set standards in this Business Segment with durable valves,

highly efficient control units, rings and packings.

Serial Compressors Business SegmentReciprocating compressors are also used in refrigeration and air-conditioning systems as

well as in the automobile industry. The Serial Compressors Business Segment develops valve

heads and reed valves for these compact compressors.

Engine Solutions Business SegmentThe portfolio of the Engine Solutions Segment and of the Altronic brand includes innovative

engine controls, gas valves, actuators, and ignition systems for industrial engines used for

energy generation and for powering ships, locomotives, and compressors.

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The people and their overall performance goal –

“Performance counts” – shape the identity

and character of the HOERBIGER brand around

the globe.

HOERBIGER has continuously enhanced the

value of the brand over the past ten years.

The HOERBIGER website – www.hoerbiger.com –

is considered a benchmark for innovative Internet

communication worldwide. Exciting reports

and features in the HOERBIGER Yearbook and

HOERBIGER customer magazine @MOTION

aid in effectively positioning the strategy and

performance of HOERBIGER's employees

and of the products and services that they develop.

The HOERBIGER Forum in Vienna, Austria,

which we will open in June 2016, and its

innovative multimedia applications is another

building block of a brand world that is driven

by the performance goal of HOERBIGER’s

employees.

Safety Solutions Business SegmentThe wear-free explosion protection valves launched by HOERBIGER as early as the 1950s,

and continually advanced since, are used around the globe as safety valves in large-bore

engines and compressors, in the intake and exhaust systems of gas and dual-fuel engines,

and as passive protection in the processing of flammable dusts.

The acquisitions of IEP Technologies in September 2015, Newson Gale in January 2016,

and BRILEX in April 2016 have made HOERBIGER a worldwide leading provider of technologies

dedicated to explosion detection and suppression, and to the prevention of ignition

hazards of static electricity.

Valve Automation Business SegmentBy consistently cultivating the market, the Valve Automation Business Segment has estab-

lished a leading position in piezo valve technology. Piezoelectric positioner modules made by

HOERBIGER are used worldwide as key components of positioners for precise control of valves.

The top-ranking products of the Valve Automation Business Segment at present are the

electrohydraulic valve actuators of the TriVAX™ product family. Through the intelligent safety

functions built into products, the Valve Automation Business Segment has earned the trust

of customers from the oil, gas, and process industries, in power plants, and in the water and

wastewater industry.

SERVICE DIVISIONWorldwide, HOERBIGER has more than 90 Service locations in 52 countries. The Service

portfolio centers around solutions that boost the performance, reliability and economic

efficiency of reciprocating compressors, natural gas powered engines, and turbines.

PRODUCTION DIVISIONThe Production Division and its 14 manufacturing plants ensure that HOERBIGER can

guarantee short lead times worldwide, at consistently high quality standards. The

performance of Production is one of the success factors for the effectiveness and efficiency

of the Compression Technology Strategic Business Unit.

The HOERBIGER BrandThe people of HOERBIGER shape the identity and character of the Group

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Drive Technology Strategic Business Unit

Around the world, the Drive Technology Strategic Business Unit is considered the prime

partner in the automotive industry for the development and production of synchronizers used

in manual and automated transmissions, including dual-clutch transmissions. Its customers

include virtually all global automobile groups and transmission manufacturers.

Core competencies of the Strategic Business Unit are the development and design of synchro-

nizers, friction systems, and hub systems for the automobile industry. Synchronizers are

performance-defining key components used in modern manual transmissions (MTs), automated

manual transmissions (AMTs), and dual-clutch transmissions (DCTs). They are responsible

for smooth and comfortable gear shifting in automobiles and commercial vehicles.

With its expertise in pneumatic gearshift support systems for trucks and buses, the Transmission

Comfort Segment has formed the core of the new Commercial Vehicle Segment since it

was assigned in 2015 from the former Automotive Comfort Systems Business Division to the

Drive Technology Strategic Business Unit.

Production plants of the Drive Technology Business Unit are located in Schongau,

Oberstenfeld and Penzberg in Germany, Changzhou in China, and Waterloo in Canada.

The development center in Peiting, Germany, is equipped with state-of-the-art test

benches for synchronizers and friction linings.

It is from our heritage and our values, our

corporate ambition, our dedication, and our

performance commitment that we derive

the vision of the HOERBIGER Group:

We set standards.

Our Mission – Excellence & Growth –

ties our corporate ambition to our

long-term growth targets.

PRODUCT EXCELLENCE

Our products combine customer value

and unique selling propositions.

SERVICE EXCELLENCE

Our Service combines technology

and efficiency.

MANAGEMENT EXCELLENCE

We develop business ideas and turn

them into long-term successes.

OPERATIONAL EXCELLENCE

Our operational processes and technologies

are benchmarks.

Performance-defining components are the techno-

logical foundation for our products, systems, and

services. Through their unique selling propositions,

we provide a lasting contribution to the added value

of our customers – from OEMs to end users. These

components form the core of the HOERBIGER

brand and the starting point of the business model.

Our products – components, systems, and services –

are performance-defining. In compressors,

industrial engines, automobile transmissions, and

multifaceted mechanical and plant engineering

applications, they are key to efficiency and effective-

ness, reliability, and environmental compatibility.

VISIONWe set Standards

MISSIONPerformance-defining

Components

EXCELLENCE & GROWTH

PEOPLE AND VALUESPioneering Spirit | Courage | Fairness | Closeness

HERITAGEHanns Hörbiger | Alfred Hörbiger | Martina Hörbiger

Our Vision We set Standards

Our MissionEXCELLENCE & GROWTH

Our Business ModelPerformance-defining Components

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Hydraulic Systems Business Division

In an effort to take fullest advantage of the growth opportunities in global markets,

HOERBIGER in June 2015 combined the Compact Motion Technology Business Segment from

the former Automation Technology Strategic Business Unit with the Roof Hydraulics and

Loading Comfort Business Segments from the former Automotive Comfort Systems Business

Division to form a new Hydraulic Systems Business Division.

Compact Hydraulics Business SegmentAll activities related to hydraulic roof drives, the development and sale of lifting columns for

operating tables, marine and recreational vehicle applications, and components for hydraulic

restraint systems are covered under the Compact Hydraulics Business Segment.

For more than three decades, compact hydraulic drives made by HOERBIGER have been the

performance-defining components for automatically opening and closing convertible tops.

In medical technology, HOERBIGER is a premium supplier of compact hydraulic lifting columns

used worldwide as drive systems for operating tables. In the field of marine and recreational

vehicle applications and hydraulic restraint systems for amusement rides, HOERBIGER supplies

performance-defining hydraulic actuators.

Loading Comfort Business SegmentIn the Loading Comfort Business Segment, HOERBIGER is working on future-oriented comfort

solutions that allow easy transport of heavy loads. In 2016, the XETTO® loading and unloading

aid will be launched as the first series product of the Loading Comfort Business Segment.

Machinery Business SegmentThe Machinery Business Segment combines all development and sales activities for hydraulic

applications in the press brake market. With complete electrohydraulic drives that are

compact and efficient, in recent years HOERBIGER has laid an innovative technological

foundation for the development of press brakes that are not only modern but also

energy-saving.

The most significant production plant of the Hydraulic Systems Business Division is the

Bolesławiec plant in Poland, where the components for HOERBIGER roof hydraulics, the Type

4 and Type 6 series drive systems, and hydraulic cylinders and tubing are produced. The

location in Barbing, Germany, specializes in microfluidics and primarily supplies components

and systems for medical technology.

Hydraulic power units for press brakes and special hydraulic solutions, such as brakes

for wind power plants, are manufactured in Altenstadt in Germany and Wuxi in China. The

existing manufacturing location in Auburn, Alabama, USA, will be turned into a technology

center for the development of hydraulics solutions for customers from North America.

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Business Development as a success factor

In the coming years, the HOERBIGER Group will experience continued growth, both

organically, by continually developing our core competencies and capabilities, and through

acquisitions, by acquiring companies whose portfolio fits our strategic objectives.

Corporate Business Development supports this approach by developing and implementing

appropriate initiatives and projects. It reviews technical innovations, new business ideas,

and growth potential in the market to determine whether, and to what extent, these can help

meet the future requirements of our markets and customers, satisfying our growth targets

while respecting the stability criteria of the Group.

Organic growthAt HOERBIGER, organic growth has always been driven by technical innovation and inspiration

from the ranks of the employees. Business Development assembles and professionally

interprets ideas that originate in-house.

The objective is to strengthen existing business activities and use new business ideas and

new business models to continually shape the future.

Growth through acquisitionGrowth through the deliberate acquisition of companies whose technology and market

presence complement our existing core businesses in related business segments is just as

important as internal, organic growth.

Acquisition initiatives focus on broadening and strengthening the technological core

competencies, and specifically on expanding the product and service portfolio. This is closely

tied to the goal of bolstering the presence in the market to achieve a sustainable position in

the OEM and Service business. Long-term, every acquisition must also contribute to increasing

the company’s value.

HOERBIGER has the objective of being first or

second in the niche markets in which the company

is strategically represented. Our products and

services must therefore offer unique selling

propositions that clearly distinguish them from

the competition.

When developing new products and services,

we focus on the core competencies of the

Strategic Business Units: fluid mechanics,

thermodynamics, and gas dynamics in compres-

sion and engine technology; hydraulics,

pneumatics, and piezo technology in automation

technology; and tribology and metal forming in

drive technology. These core competencies also

encompass electronics, sensors, and software.

The Group has a mandate to remain self-reliant

and to be independent and sustainably positioned.

We therefore consistently make sure that our

portfolio and our relationships with customers

and suppliers alike are based on several pillars.

Each entity in the HOERBIGER Group must be

able to support itself. Senior managers are

responsible for the long-term profitability of their

entities. The criterion is the EBIT margin:

the operating income in proportion to sales.

Our Stability CriteriaMarket Positioning, Technology, Self-Reliance and Profitability

Market positioning

Self-reliance

Technology Profitability

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“ I LIKE BEING AN ENTREPRENEUR WITHIN THE COMPANY.”




























the competition.





















Market positioning

Self-reliance


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Strong concepts for tomorrow’s growth: in addition to a keen sense of new technologies and business models, Sigune Suttner’s particular strengths lie in translating promising ideas into reality with a well thought-out plan.

Sigune Suttner already had several years of international professional

experience in the automotive, shipbuilding and petrochemicals industries

under her belt when she first came into contact with HOERBIGER:

“At the time, I was looking specifically for a medium-sized company with a global footprint and good prospects for development for my planned part-time MBA program.”

This was a perfect fit for HOERBIGER, given that the company combines

the financial strength and organizational structure of a global group with the

energy, flexibility and long-term orientation of a medium-sized firm.

Entrepreneurial spirit runs in Sigune Suttner‘s veins: right after graduating

from high school, she founded a start-up company with a partner – the

goal was to recultivate fallow farmland in Eastern Europe to grow corn for

bio ethanol production. She then studied business administration, majoring

in entrepreneurship and supply chain management. After graduating,

Suttner was hired by a manufacturer of metal alloy foams, which are used

in particulate filters.

Sigune Suttner joined HOERBIGER in April 2014 – as a manager in Corporate

Business Development. “Over the past two years, we have been able to fill

our innovation pipeline with internal growth projects and acquisitions.

After this scouting phase, I look forward to seeing the promising ideas through

to implementation, in close cooperation with all the Strategic Business Units

and Business Divisions,” says Suttner. In the medium term, she can well image

bringing an innovative project at the operational level to fruition.

“I like being an entrepreneur within the company. Breaking away from old mindsets and reconsidering the logic of existing markets – that’s my passion.”

Sigune Suttner




























the competition.





















Market positioning

Self-reliance


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1 Dr. Martin KomischkeCEO and Chairman of the Executive BoardBorn 1957Chairman of the Executive Board since 2004; previously, from 1996 onward, a member of the Executive Board and CEO of the Drive Technology Strategic Business Unit

2 Charles FriessCFO and the CEO’s deputy on the Executive BoardBorn 1956CFO of the HOERBIGER Group since 1996

3 Gerhard WagnerChief Human Resources OfficerBorn 1962Member of the Executive Board since 2012

4 Johann HipflCEO of the Compression Technology Strategic Business UnitBorn 1954 Member of the Executive Board since 2007

5 Thomas EnglmannCEO of the Drive Technology Strategic Business UnitBorn 1968 Member of the Executive Board since 2014

HOERBIGER Executive Board (December 31, 2015). From left to right: 2, 3, 1, 5, 4

The Executive Board is responsible for the ope-

rational management of the HOERBIGER Group.

The Executive Board represents the Group to

the public, customers and business partners.

The Executive Board comprises five members:

the Chief Executive Officer (CEO), the Chief

Financial Officer (CFO), the Chief Human

Resources Officer (CHRO), and the CEOs of the

Compression Technology and Drive Technology

Strategic Business Units.

Within the scope of its operational responsibilities,

the Executive Board is in charge of ensuring

that new products, services, and new business

models fit the strategic orientation of the

HOERBIGER Group as agreed between the

Board of Directors and the Executive Board, and

satisfy the stability criteria set for the Group.

Along with Dr. Martin Komischke being

appointed President of the Board of Directors of

HOERBIGER Holding AG effective July 1, 2016,

Dr. Jürgen Zeschky was appointed his successor

as CEO and Chairman of the Executive Board.

Dr. Zeschky joined the HOERBIGER Group on

January 1, 2016 and will assume the office of

CEO on July 1, 2016.

Dr. Jürgen Zeschky was born in 1960. After

graduating in mechanical engineering, he

earned his doctorate at the Institute of Turbo-

machinery of RWTH Aachen. He subsequently

held various managerial functions at leading

industrial firms in Germany and the USA.

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“ We have good people and need the right individuals. Growth starts with people who accept change as a challenge, develop ideas, and translate these into strategies and ultimately into success.”

Gerhard WagnerChief Human Resources Officer

and Member of the Executive Board HOERBIGER Holding AG

HOERBIGER is a great place to work. This is because HOERBIGER recognizes, promotes,

and respects individual performance. Every employee finds opportunities at HOERBIGER to

continue to develop, both professionally and personally – especially during years filled with

major challenges.

Voice for Excellence: outstanding engagement

All of this would have been unthinkable without the commitment to performance and the

high level of engagement of the HOERBIGER Group’s 6,858 employees worldwide.

We are proud to have improved the engagement score in the HOERBIGER Group by

another percentage point, to 64 percent, in 2015.

This is an excellent rating by international standards and places us clearly above the

global industry average.

Engagement: Well on the way in 2015

Global industry average57 %

HOERBIGER total64 %

30%

0 %

45%65%

100 %

Performance / best employers zone Neutral zone Uncertainty zone Destructive zone

Source: Aon Hewitt Employee Research Database

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At the end of 2015, the Compression Technology

Strategic Business Unit had 4,186 employees, the

Drive Technology Strategic Business Unit had 1,524

employees, 508 worked in the Hydraulic Systems

Business Division, and 272 in corporate functions.

Our team was supported by external contractors.

As of December 31, 2015, HOERBIGER employed

a total of 368 people from outside staffing firms:

287 in the Compression Technology Strategic Business

Unit, 33 in the Drive Technology Strategic Business

Unit, 46 in the Hydraulic Systems Business Division,

and two in corporate functions.

Employees

Employees by Strategic Business Unit Compression Technology Drive Technology Hydraulic Systems

Corporate Functions

Temporary employees by Strategic Business Units Compression Technology Drive Technology Hydraulic Systems

Corporate Functions

Status date: December 31, 2015

We appreciate the talent from within our own ranks

HOERBIGER strives primarily to recruit internal talent to fill leadership positions.

The key is to develop internal employees in their personal careers to the point where a

majority of management positions can be filled by junior managers from within the Group.

In 2014, HOERBIGER had set the goal of filling 70 to 80 percent of all managerial positions

in-house. In 2015 this target was met, with an internal recruitment rate of 73 percent.

Well over half of all newly created or vacated managerial positions were filled by successful

graduates of the management programs offered within the Group: the Business Leadership

Program, the Harvard Breakthrough Leadership Program, and the Foundation of

Leadership Program.

Mission Statement and Success Profile – leadership with clear objectives

It is of crucial importance for the success of the Group that every senior manager and every

employee knows exactly how their responsibilities and goals contribute to the success of the

company.

Proceeding from the strategic objectives of the Group, the Mission Statement transparently

outlines for every manager the expectations that are tied to the particular leadership position,

along with specific goals and key performance indicators (KPIs).

The Mission Statement forms an essential part of the Success Profile that is developed for

every leadership function within the HOERBIGER Group. In addition to the Mission Statement,

it also encompasses professional requirements as well as the Excellence Behaviors derived for

senior managers from our Mission.

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“ TRACKING DOWN TALENT WITH OUR DASHBOARD.”

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Carlo Van Praet joined HOERBIGER in mid-2014. The Belgian initially worked at the corporate headquarters in Zug as Corporate Manager Organization Development & Talent (OD & T). Today, he is Global Head of Compensation & Benefits in Zug.

In 2015, Van Praet’s work focused on the development of programs to identify

and train junior managers.

One important tool in these efforts is the Global Talent Dashboard, which is

available online to all top executives of the Group.

“ In 2015, the Global Talent Dashboard became a key tool in the development of talent at HOERBIGER,” Carlo Van Praet explains. “It also provides our senior managers with important statistical information on topics that are important for the company’s success and growth, such as succession planning and employee engagement data.”

Based on the key performance indicators (KPIs) developed by Corporate

Human Resources to assess leadership qualities for management functions,

the Global Talent Dashboard provides essential information that allows

employees who show talent and potential for demanding managerial tasks

to be developed using tailor-made personal advancement programs.

Carlo Van Praet

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Corporate compliance is indispensable at HOERBIGER

The Compliance Initiative that was given top priority by the Executive Board continued

in 2015. Complying with statutory provisions and maintaining ethical conduct pose major

challenges in many regions of the world. HOERBIGER faces this challenge with a zero-

tolerance policy for violations.

Worldwide, more than 25 compliance training sessions were conducted in 2015 for

employees from all departments and all levels of management. In addition to compliance

in general, the training focused on compliance with competition law and export control

regulations.

The sessions all required attendance in person. The effort is worthwhile, and gives

employees and compliance experts an opportunity to discuss specific challenges face-to-face.

The Compliance Initiative is designed to provide the assistance and confidence employees

need to make fast yet irreproachable decisions in everyday situations. In addition to the training

sessions, Corporate Audit staff are available at any time for information on everything

related to compliance.

When it comes to personal commitment to the compliance goals, the Executive Board and

senior managers lead by example. Compliance is a prerequisite for participation in bonus

programs for senior managers. Every year, all top managers personally review and report on

the compliance situation in their respective areas of responsibility.

HOERBIGER is looking for modern adventurers

Our corporate values Pioneering Spirit and Courage are a common thread running through

the success story of the HOERBIGER Group. We offer attractive development opportunities

to individuals who develop innovative technological solutions and new business ideas

through creativity, know-how, commitment to performance, and high personal standards.

With his development of what at the time was a

highly innovative steel plate valve, Hanns Hörbiger

in 1895 laid the foundation for the present Group.

This development furthered the evolution of blast

furnace technology and prepared the way for

high-pressure chemistry. Hanns Hörbiger’s

son Alfred started the in-house production of

valves in Vienna-Simmering in 1931. In the

years after the end of the Second World War,

his wife Martina Hörbiger managed to resume

the company’s international relationships.

Our Heritage and our Values

For more than a century, HOERBIGER has been

shaped by the pioneering spirit of Hanns

Hörbiger, the entrepreneurial courage of Alfred

and Martina Hörbiger, its proximity to customers,

and its fairness toward business partners and

employees. Our corporate values – Pioneering

Spirit, Courage, Fairness and Closeness –

are the direct result of our heritage.

Toward employees, customers, suppliers and all other business partners

Fairness

Taking carefully weighed risks

Taking responsibility and seeing the job through even in difficult situations

Courage

Worldwide presence, familiarity with all cultures

Knowing the customers and their needs

Closeness

Overcoming your own boundaries

Approaching new tasks without already knowing the solution

PioneeringSpirit

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“ WHAT IS YOUR HOERBIGER ADVENTURE?”









regulations.





































Fairness



Courage



Closeness



PioneeringSpirit

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Falk Daubner was hired by HOERBIGER in 2012 as Corporate Manager Organization Development & Talent (OD & T). In 2015, he became Corporate HR Manager Employer Branding & University Recruiting, and in 2016 additionally assumed the position of Recruiting Manager for Europe, the Middle East, and Africa.

Under the motto “The HOERBIGER Adventure,” Falk Daubner and his

colleagues in Corporate Human Resources developed a new personnel

advertising concept to advance HOERBIGER as an employer brand.

“The new advertisements are tailored to the character and nature of the HOERBIGER brand,” says Falk Daubner. “The focus of the campaign lies on pioneering spirit and courage, combined with the personal experiences of HOERBIGER employees.”

An example is the ad that tells the story of Alexandra Wittmann.

Alexandra Wittmann joined HOERBIGER in 2011 as Controller for the Western

Europe service region. Her outstanding performance earned her an invitation

to the HOERBIGER Business Leadership Program – a customized development

program for senior managers.

Today, Alexandra Wittmann is responsible for Controlling across an entire

Business Division. And her adventure continues.Falk Daubner & Alexandra Wittmann









regulations.





































Fairness



Courage



Closeness



PioneeringSpirit

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The Board of Directors

The Board of Directors carries the managerial,

organizational, supervisory, and financial

responsibilities of HOERBIGER Holding AG. It is

composed of members of the Board of Trustees,

former members of the HOERBIGER Executive

Board, and seasoned individuals who are

associated with the Group and experienced in

corporate management.

The President, Vice President and remaining

members of the Board of Directors are elected

at the Annual General Meeting at the proposal

of the Board of Trustees.

As the highest decision-making body, the Board

of Directors is in charge of the main structural

responsibilities across the HOERBIGER Group,

notably its long-term strategy and fundamental

organizational principles.

The Board of Directors decides on the compa-

ny’s values and principles. It approves the

Group’s planning and budget, and appoints

the members of the Executive Board.

Since Dr. Marcus Flubacher and Dr. Gerd Unterburg

will step down from both the Board of Trustees

and the Board of Directors effective June 30,

2016, the following new personnel appointments

to the Board of HOERBIGER Holding AG were

resolved at the Annual General Meeting of

HOERBIGER Holding AG on April 6, 2016, as

requested by the shareholders of HOERBIGER

Holding AG:

Effective July 1, 2016, Dr. Martin Komischke will

join the Board of Directors and become President

of the Board of Directors of HOERBIGER Holding

AG, relinquishing his existing successful positions

as CEO and Chairman of the Executive Board of

HOERBIGER Holding AG.

Dr. Andreas Hünerwadel will be appointed

Vice President of the Board of Directors of

HOERBIGER Holding AG. Dr. Hünerwadel has

been a member of the Board of Directors since

July 1, 2015 and a member of the Board of

Trustees of the HOERBIGER Foundation since

September 7, 2009.

In addition, Albin Hahn will be appointed to the

Board of Directors of HOERBIGER Holding AG

effective July 1, 2016. Albin Hahn has been

involved as an external member of the Audit

Committee of the Board of Directors since

January 1, 2014.

1 Dr. Marcus FlubacherPresidentBorn 1944 President of the Board of Directors since 1997

2 Dr. Gerd UnterburgVice PresidentBorn 1940 Vice President of the Board of Directors since 2004; previously, from September 1989 onward, Chairman of the management team of the HOERBIGER group of companies and of HOERBIGER International in Vienna; Chairman of the Executive Board from 1997 until he joined the Board of Directors

3 Dr. Rudolf HuberMemberBorn 1955 Member of the Board of Directors since 2008

4 Dr. Manfred ReichlMember Born 1953 Member of the Board of Directors since 2010

5 Egbert AppelMemberBorn 1949 Member of the Board of Directors since 2012

6 Dr. Andreas HünerwadelMemberBorn 1964 Member of the Board of Directors since 2015

HOERBIGER Board of Directors (December 31, 2015). From left to right: 6, 3, 1, 2, 4, 5

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The HOERBIGER Foundation – ensuring stability and continuity

The HOERBIGER Foundation in Zug, Switzerland, provides the Group with a sound basis

marked by a long-term view, sustainability, stability, and continuity.

The HOERBIGER Foundation protects the Group’s entrepreneurial heritage and ensures

stability and self-reliance, as well as future-oriented corporate development geared toward

profitable growth.

At 75 percent, the majority of shares of HOERBIGER Holding AG are held by HOERBIGER

Tectum Holding AG, Zug, an intermediate holding company that is entirely dependent on

the HOERBIGER Foundation. The remaining 25 percent is held via an associated company by

family shareholder Mrs. Christiana Hörbiger, who is also Vice President of the Board of

Trustees of the HOERBIGER Foundation.

The Board of Directors of HOERBIGER Tectum Holding AG is identical to the Board of

Trustees of the HOERBIGER Foundation and is composed of members of the Hörbiger family,

active and/or former members of the Board of Directors, and independent advisors associated

with the company through long-standing cooperation. The Board of Trustees’ sole mandate

is to support the Foundation’s mission and safeguard the interests of the HOERBIGER Group.

Status date: April 2016

Shareholders of HOERBIGER Holding AG

The HOERBIGER Foundation earmarks for the company the majority of corporate profits

generated by the HOERBIGER Group. It is the primary objective of the Foundation to preserve

the independence of the company and to support the Group in its continual long-term

expansion.

The exclusive mandate of the HOERBIGER Foundation is to safeguard the future of the

company. One important concern of the HOERBIGER Foundation is to support research and

development in the HOERBIGER Group through the projects it promotes and through closer

collaboration with universities and other research institutes. The HOERBIGER Foundation

additionally supports initiatives for the development of HOERBIGER Group employees.

75% HOERBIGER Tectum Holding AG Intermediate holding company

of the HOERBIGER Foundation

25% Family shareholder Christiana Hörbiger

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COMPRESSION TECHNOLOGY STRATEGIC BUSINESS UNIT

KEEPING AN EVEN KEEL

HOERBIGER is a technology and market leader worldwide for performance-defining components, systems, and services for reciprocating compressors, gas-fueled engines, and turbines. Lower investment related to shale oil and gas as a result of the low price of oil, especially in North America, turned 2015 into a year filled with major challenges for the Compression Technology Strategic Business Unit.

On the one hand, internal adjustments were needed at HOERBIGER in light of the changed market environment. On the other hand, it was important to seize the growth opportunities of the Safety Solutions Business Segment, despite a more difficult environment, and expedite the Segment’s further expansion in the forward-looking safety technology growth market.

Reporting sales of 640.8 million euros, in 2015 the Compression Technology Strategic

Business Unit was able to achieve slight growth of 3.5 percent over comparable sales of

619.1 million euros in the previous year. This result is thanks to the added sales volume

from the Valve Automation Business Segment, the acquisition of IEP Technologies, LLC,

and positive currency exchange rate effects.

At 47.5 percent, almost half of the Business Unit’s sales volume comes from the OEM

Division, which supplies components and systems directly to compressor and engine

manufacturers, companies engaged in plant engineering, and customers in the refrigeration

and automotive industries.

At 52.5 percent, the Service Division is the second strong pillar in the Compression

Technology Strategic Business Unit.

Over the course of the year the Compression Technology Strategic Business Unit addressed

the dramatically deteriorating business situation, caused by the low price of crude oil,

by implementing a comprehensive cost-cutting program in Production and Administration.

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“ We enable our customers to gain clear competitive advantages. As an attentive and forward-looking provider, we know precisely what solutions are needed. This makes us an outstanding partner. Our benchmark is excellent quality – in terms of our products, as a service partner, in operations, and at the management level.”

Johann HipflCEO of the Compression Technology Strategic Business Unit


A year filled with major challenges

The rapid collapse of crude oil prices in particular presented major challenges for the

Compression Technology Strategic Business Unit in 2015. Investments in infrastructure

for the production and transport of natural gas, which are tied to the production of

shale oil, came nearly to a halt, especially in North America, one of the most important

sales markets for OEM products.

In November 2014, the market price for a barrel of UK Brent was still 80 US dollars.

An initial bottom was reached in January 2015 with a barrel of crude oil trading for just under

48 US dollars. A recovery phase that lasted until May 2015 was followed by a renewed

downturn. In early 2016, the price of crude oil at times dipped below 30 US dollars.

Sources: OPEC; EA | © Statista 2016

Price development of UK Brent crude oil from November 2014 to November 2015(monthly averages in US dollars per barrel)

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80

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46.58 47.62

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44.27

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Low crude oil prices prompted a significant decline in orders for HOERBIGER from the oil

and gas industry. In 2015, this affected not only the Compressor Solutions Segment, but also

the Engine Solutions Segment and the Service Division.

In all the Latin American countries dependent on crude oil exports, in particular

Venezuela, Ecuador, Colombia, and Mexico, the worldwide collapse of oil prices prompted

declines in sales. The drop in volume was especially pronounced in Brazil.

In numerous Eastern European countries, in particular Russia, Ukraine, Kazakhstan and

more recently Turkey, developments remain difficult to predict, both politically and

economically.

Growth potential with new business models

For the Compression Technology Strategic Business Unit the global general economic

conditions of the oil, gas, and process industries are reason enough to develop new high-growth

business models with even greater urgency than in the past.

The establishment of the new Safety Solutions Business Segment in 2015 was a strategically

important step in this direction.

Safety technology does not just offer considerable growth potential; as a market that is

largely independent of the energy sector, it also bolsters the stability of the Group’s portfolio.

Due in no small part to the existing core competencies of the Compression Technology

Strategic Business Unit, HOERBIGER has good chances of becoming one of the global

innovation, technology and market leaders in this future-oriented market environment.

While developing new markets through targeted growth from acquisitions is important,

it is equally important to create new business models for organic growth.

One example that continues to be very successful is the leasing and operator models

already successfully practiced as part of the Wellhead Compression initiative.

Alliances with strategic sales partners and customers is another option, such as the

D’BLUE sales partnership with diesel injection specialist L’Orange GmbH, Stuttgart, Germany,

in effect since 2013 in the Engine Solutions Business Segment.

Service solutions that help to achieve reliability, efficiency, and environmental goals will

continue to offer attractive growth potential. HOERBIGER already has an excellent presence

in these important areas of the future through its innovative service concepts, such as the

REE process.

Organic growth

Potential for organic growth in the long term will continue to arise in the growing emerging

markets of Latin America, Eastern Europe, Asia, the Middle East, and Africa, despite the

present political and economic uncertainty. These markets will be helped by a continued rise

in population, the growing desire for prosperity, and the associated demand for energy, as

well as geopolitical developments.

One example of a country where prosperity and the demand for energy drive growth is

the People’s Republic of China. The country’s ongoing development of infrastructure and

road transport focuses primarily on liquefied natural gas (LNG).

The lifting of the economic and financial sanctions imposed on Iran, which was set in

motion in 2015, will also allow HOERBIGER to resume business relations with local oil, gas,

and process industries, which are very significant players in this region.

Engagement and inner strength

In light of a dramatically worsened business environment, significant efforts were required

in the 2015 fiscal year from employees and senior managers of the Compression Technology

Strategic Business Unit to withstand the pressure of the market. These efforts took the form

of structural adjustments, cost-cutting programs, travel restrictions, and a significantly

higher workload.

Despite the related stresses, the Strategic Business Unit expedited its strategic growth

initiatives with great dedication.

One example is the comprehensive optimization of processes across the entire Strategic

Business Unit pursued by the SaleS and Together projects.

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The objective of the SaleS program is to enhance sales performance in the Compression

Technology Strategic Business Unit by deliberately developing sales employees worldwide.

The Together project allows logistics paths to be shortened by networking global IT

systems. After the successful implementation of the IT project in the Middle East and Africa

region in 2013, the Latin American Service companies in followed in July 2014. In 2015,

another 22 foreign entities worldwide were integrated into the Together IT infrastructure.

OEM DIVISION

The Compression Technology Strategic Business Unit was able to grow sales in the OEM

Division by 4.4 percent over the previous year. Foreign exchange rate gains were crucial,

but also important were sales generated by the new Safety Solutions Segment and the

Valve Automation Segment. Operational revenue in the core business, in contrast, declined

by 13.3 percent due to investment restraint in the oil and gas industry.

Compressor Solutions Business Segment

The portfolio of the Compressor Solutions Business Segment primarily includes components

and systems for traditional reciprocating compressors.

Key customers of the Compressor Solutions Business Segment operate in North America

and Europe – regions where the pressure of the recession on the oil, gas, and process

industries was felt especially hard.

While sales in North America and Europe fell, new orders were acquired in Asia from

regional compressor manufacturers.

“ We have always based the development of innovative components on the needs of our customers. We will continue to do so in the future. And our customers appreciate it.

Udo BauerHead of OEM DivisionHOERBIGER Kompressortechnik Holding GmbH

Innovation – the HOERBIGER DNAThroughout its history, the HOERBIGER brand has stood for innovation – especially in the

business area of Compressor Solutions. HOERBIGER has been an innovation and technology

leader in compression technology for decades, establishing the “prior art” and repeatedly

setting new standards.

Efficient: HOERBIGER CP valveOne example of such an innovation is the HOERBIGER XP valve featuring the PowerPEEK™

valve plate.

In 2015, the compelling performance features of the XP valve resulted in the acquisition

of numerous attractive new orders.

The XP valve was specifically developed for the process gas industry, for use in com-

pressors that are subject to maximum requirements in terms of performance and reliability.

It provides a lifespan three times that of modern standard valves.

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“ SOMETIMES IT’S THE SKETCH OVER A CUP OF COFFEE.”







OEM DIVISION





















valve plate.






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When something approaches the boundaries of what is physically possible, Dr. Matthias Kornfeld perks up. He came from the realm of science to HOERBIGER five years ago to expedite the use of mathematical simulation models in the Compression Technology Business Unit. Today, he is Head of Product Development in the Compressor Solutions Segment.

The path to success in Dr. Matthias Kornfeld’s field is often long. Shortly

after joining HOERBIGER, he launched the HOERBIGER eVCP system, an

innovative compressor control unit.

“It’s a great feeling to have seen a product through from the initial idea. I can still see the first model and have the scores of tests in my head. Now, our HOERBIGER eVCP system is available in the market. What makes my work attractive is our high demands and visible successes.”

This was also the case with the new HOERBIGER XP valve: “Compared to

older standard valves, we achieve a considerably longer operating life at

greater efficiency with this innovative valve. With this, we set new standards.

The customers are able to save costs and improve their competitiveness.”

These are measurable successes. The development of an idea, in contrast,

is more difficult to grasp. “Inspiration doesn’t lend itself to planning,” says

Dr. Kornfeld.

“What is therefore important to me is our team. Quite often, you get a cup of coffee, meet colleagues, talk, draw a sketch, and this triggers an avalanche of new ideas. The combination of highly experienced people makes us strong.”

Dr. Matthias Kornfeld







OEM DIVISION





















valve plate.






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Innovation Innovation

Electric: HOERBIGER eHydroCOMThe installation of a number of additional HOERBIGER eHydroCOM systems in 2015 was also

an important success for the Compressor Solutions Business Segment.

Field testing for the newly developed all-electric capacity control system for reciprocating

compressors had begun in 2012. In 2015, the first series-produced HOERBIGER eHydroCOM

systems were installed at several well-known customers in Europe, immediately after the

product had been approved for the market.

HOERBIGER eHydroCOM

HOERBIGER eHydroCOM is a stepless capacity

control system for reciprocating compressors.

The system operates entirely electrically,

requiring no connections to supplies of hydraulic

oil or cooling water.

Stepless capacity control allows reciprocating

compressor operators to adjust compressor

capacity easily and flexibly to new operating

situations. This significantly reduces energy

consumption.

The HOERBIGER eHydroCOM system makes

extremely precise capacity control possible.

Gas throughput can be controlled dynamically,

yielding stable process conditions over a wide

range of flow rates. As a rule, only the gas volume

needed for the process is actually compressed,

drastically lowering the com pressor’s energy

consumption.

The goal of the developers was to ensure that

the HOERBIGER eHydroCOM system is able to

operate continuously for many years without

significant wear. Low installation costs, high

energy efficiency, and manageable maintenance

expenses provide attractive payback periods

for HOERBIGER customers – in both new

installations and retrofit solutions.

Expected: HOERBIGER eVCPWith the HOERBIGER eVCP (electrical variable clearance pocket) system, HOERBIGER

also achieved a technological breakthrough in capacity control through clearance volume

variation for high-speed natural gas compressors.

In 2015, the development team advanced the new system to the field testing stage.

HOERBIGER eVCP systems are now running flawlessly under tough everyday conditions.

HOERBIGER eVCP System

The HOERBIGER eVCP electric capacity control

system is based on a patented actuating

mechanism for the automated, stepless capacity

control of high-speed reciprocating compressors.

It was eagerly awaited by the market.

The HOERBIGER eVCP system is the first

reliable product for capacity control of high-speed

natural gas compressors by automatically

varying the volumes of clearance pockets built

into the cylinders. The advantage for the

customer is that the compressor always operates

with optimal efficiency.

The system is ideally used in conjunction with

HOERBIGER CP valves, which are designed

specifically for natural gas applications. These

offer a 40 percent larger clear flow cross-section

over conventional plate valves, and so have

significantly lower valve losses. Customers

benefit from considerably higher gas flow and

lower energy consumption.

Having proven tremendously successful

in field tests at two customer facilities, the

HOERBIGER eVCP system is scheduled

for market intro duction in the second quarter

of 2016.

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Innovation

Under development: HOERBIGER XperLUBEThe HOERBIGER XperLUBE system unveiled at the European Forum for Reciprocating

Compressors (EFRC) Conference in Vienna in 2014 is another product in the development

pipeline.

HOERBIGER XperLUBE

With the HOERBIGER XperLUBE system,

HOERBIGER has created a system for precisely

metered, flexible and reliable lubrication of

process and natural gas reciprocating compres-

sors, aimed at both OEM manufacturers and

end customers.

No HOERBIGER competitor has so far been

able to combine the requirements for precise

metering, flexibility and reliability in a single

system for compressor lubrication. As a result,

the HOERBIGER XperLUBE system with its

patented high-speed oil injector is opening up

entirely new possibilities.

In 2015, the HOERBIGER XperLUBE system

underwent initial field testing at a customer

in Austria.

Serial Compressors Business Segment

In 2015, the Serial Compressors Business Segment maintained its level of revenue from

the previous year. Successes in sales achieved over the course of the year will have a positive

impact on revenue in the coming years.

In the refrigeration and air-conditioning compressor segment, an important long-term

agreement on the delivery of reed valves was extended by another four years. Existing long-

term agreements with the commercial vehicle industry for deliveries of parts for air brake

compressors were also renewed successfully. Another long-term agreement was concluded

with the railway industry.

Engine Solutions Business Segment

Being centered around the development of innovative components for new generations of

industrial gas-powered engines, in 2015 the Engine Solutions Business Segment suffered from

the difficult market conditions even more strongly than the Compressor Solutions Segment.

Nonetheless, the Engine Solutions Business Segment successfully developed additional

fields of application for innovative HOERBIGER technology by taking new market initiatives.

It established business relations in 2015 that will be attractive for the near future, especially

in connection with new drive concepts for locomotives and marine propulsion systems.

New Segment structureIn an effort to better address the widely differing requirements of customers in their various

sectors, the Engine Solutions Business Segment underwent realignment over the course

of the year.

Tier 1 and Tier 2 OEM customers among the industrial engine manufacturers now find

designated contacts in the Key Account Management team of the HOERBIGER umbrella brand.

Tier 3 OEM customers in the industrial engine market, who operate primarily at the

regional level, are served via the regional distribution channels of the Engine Solutions

Business Segment. These channels are organized in Europe under the HOERBIGER umbrella

brand, and in China in collaboration with L’Orange under the shared D’BLUE brand.

OEM customers and end users from the oil and gas industry will be served in the future

by the sales organization of the Altronic brand.

Major contract for gas-fired thermal power plantA superb market success in August 2015 was the signing of a contract for the supply of

HOERBIGER Ported Fuel Injection (PFI) valves for a new gas-fired thermal power plant in Kiel,

Germany. The new power plant will replace the present coal power plant. It will supply the

city and region with electricity and district heat, setting new standards in flexibility,

efficiency, and environmental compatibility.

20 industrial gas engines form the core of the gas-fired thermal plant. They will supply

a total output of 190 megawatts of electric power and 192 megawatts of heat, achieving an

overall efficiency of close to 90 percent. The injection valves used will be electromagnetic

HOERBIGER PFI valves. They were specially adapted for the customer to provide the required

degree of flexibility and the associated short response times.

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“ WHEN THE WORK YOU HAVE INVESTED BEARS FRUIT – THAT’S THE BEST MOMENT.”

Innovation



pipeline.

HOERBIGER XperLUBE






end customers.










in Austria.




















of the year.



















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Joseph Lepley and his son David together have put in 48 years of service at Altronic, a company of the HOERBIGER Group. The two electrical engineers are specialists in ignition and control systems used in gas-powered engines. HOERBIGER develops and produces these systems at the Girard, Ohio, location in the United States.

Joseph “Joe” Lepley joined Altronic in 1977 as a project engineer and has

been Head of Development since 1982.

Over the years, Joe Lepley successfully filed some 40 patent applications

for inventions in the USA and internationally. What is his favorite moment?

“When after the work and energy you have invested, a new development works as planned.”

Like his father, David Lepley, 31, studied electrical engineering at

Youngstown State University in Ohio. He came to Altronic in 2007 immediately

after graduating – two years before the company was acquired by the

HOERBIGER Group.

After holding different positions in Sales, David Lepley today is Global

Product Manager and in charge of the success of Altronic ignition systems

in the market.

David Lepley describes working with his father as a challenging yet very

enriching experience. The VariSpark™ ignition system was successfully

launched during their shared tenure at HOERBIGER. Thanks to sparks at

up to 50,000 volts, the product can reliably ignite even gases that are

low in energy.

“We are prepared for the future with these kinds of strong product innovations,” says David Lepley. “We will do everything in our power to ensure that HOERBIGER remains a leading gas engine player.”

Joseph & David Lepley

Innovation



pipeline.

HOERBIGER XperLUBE






end customers.










in Austria.




















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Innovations undergoing field testingThe development of the modular integrated HOERBIGER DriveCOM system, which is used

to control and monitor gas engines, generators and compressors, was concluded in 2015.

Initial joint projects with OEMs were started in the USA and Japan. For 2016, the Engine

Solutions Business Segment plans to enter the aftermarket.

Engine Solutions sales in ChinaIn late April 2015, the Engine Solutions Business Segment opened an agency in Suzhou,

China, to intensify the partnerships with industrial engine manufacturers and operators in

the rapidly growing Asian markets. The focus is on sales, project management, and technical

support for engine control units, ignition systems, actuators, and ported fuel injection valves

for industrial gas, diesel, and dual-fuel engines.

In addition to HOERBIGER, the new agency in Suzhou also represents D’BLUE, the

partnership with diesel injection system specialist L’Orange initiated in 2012. Together with

L’Orange, HOERBIGER will handle Chinese customers’ engine projects locally from the

Suzhou site.

Successful collaboration with GE WaukeshaThe collaboration between the Service Division and GE Waukesha, one of the world’s most

influential gas engine manufacturers, commenced in 2015. It has had a very positive effect on

the Engine Solutions Business Segment.

In January 2015, the first contracts for the representation of GE Waukesha in Latin America

were negotiated and signed. They qualify HOERBIGER as a GE Waukesha sales and service

partner in Venezuela, Mexico, and Peru. This pioneering agreement was followed later in

the year by additional sales and service agreements for Canada and Russia. In December 2015,

a contract to represent GE Waukesha in Gabon, Cameroon, Congo, and Angola was signed.

Safety Solutions Business Segment

Safety technology is a strategic growth market with tremendous future potential for the

HOERBIGER Group – in particular due to the numerous synergies with the competencies

and capabilities of the Compression Technology Strategic Business Unit. HOERBIGER offers

safety-related products and services in many areas. For decades, HOERBIGER has been an

innovation and technology leader for explosion protection and check valves for oil, gas,

and dust applications in the mechanical and plant engineering industries.

As a result, the acquisition of internationally renowned explosion protection specialist

IEP Technologies, LLC was a crucial step for the continued development of the Group in

the safety technology field. IEP Technologies is based in Marlborough, Massachusetts, USA,

and was acquired from Sentinel Capital Partners effective September 1, 2015. From that date,

the business activities of IEP Technologies have formed the core of the new HOERBIGER Safety

Solutions Segment in the OEM Division.

IEP TechnologiesIEP Technologies operates internationally through locations in Marlborough, Massachusetts,

in the United States, Ratingen in Germany, Olten in Switzerland, Paris in France, Izmir

in Turkey, and Cheltenham in the United Kingdom. The company is a leading provider

of explosion protection systems and services, and a market leader for explosion mitigation

systems in process plants. An unrivaled global service network ensures that explosion

protection equipment is always operational and effective. Authorities and other institutions

engaged in safety and explosion protection draw on IEP Technologies’ subject matter expertise

and know-how in the development of national and international standards.

IEP Technologies has more than 50 years of consolidated experience in safety and explosion

protection technology. Extensive research and development projects have established the

company as a leader in this highly specialized and financially extremely attractive niche

market. These projects relate especially to computer-assisted calculation and simulation

of explosion processes, and the development of tailor-made solutions to detect and mitigate

explosions in industrial process equipment. This leadership position is also evidenced in

the large number of cases where IEP Technologies’ equipment reliably prevented the destruction

of the equipment on which it was installed.

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HOERBIGER will continue to expand the Safety Solutions Business Segment in the coming

years. In January 2016, HOERBIGER was able to acquire privately owned Newson Gale, which

is headquartered in Nottingham, United Kingdom. Newson Gale was predominantly owned

by company founder Ernest Kochmann and his family, with a minority stake held by CEO

Graham Tyers.

Newson Gale offers an extensive portfolio of solutions for electrostatic grounding and

the prevention of ignition hazards in potentially explosive areas. Practically every process

that handles flammable gases, liquid vapors or dust requires grounding and potential

equalization to prevent the risk of electrostatic ignition – from loading tank trucks to filling

small containers.

With explosion vent specialist BRILEX, another established brand in the safety technology

field was added to the HOERBIGER portfolio in April 2016. Flameless vents and patented,

ATEX-certified explosion vents developed in-house make BRILEX Gesellschaft für Explosions-

schutz mbH, Brilon, Germany a strong partner in passive explosion protection for customers

in industry.

Valve Automation Business Segment

The Valve Automation Business Segment, which before July 1, 2015 operated under of the

former Automation Technology Strategic Business Unit, is significant for the Compression

Technology Strategic Business Unit. Given the synergies that exist in Development, Sales, and

production, the Valve Automation Segment now has significantly better access to customers

in the oil, gas, and process industries.

As a result, in 2015 the Valve Automation Business Segment acquired the first major

contract to equip a pipeline with the extremely reliable HOERBIGER TriVAX™ actuators.

The TriVAX™ electrohydraulic valve actuator combines electronics, hydraulics, and

mechanics in one self-contained system. The compact, closed design, with no external oil

lines, means that the HOERBIGER TriVAX™ actuator operates cleanly and without leaks.

Thanks to integrated interfaces to standard field buses, it can easily be incorporated into

existing automation systems, while the flameproof encapsulated housing ensures safe

operation in areas that are prone to explosions.

The Valve Automation Business Segment was able to arrange a promising partnership

with ROTEX Automation Ltd. in 2015 for the sale of part-turn actuators from the HOERBIGER

TriVAX™ product portfolio and HOERBIGER piezo technology in India. ROTEX is based in

Dombivli, India, and specializes in the production of valves, fluidic valve actuators, and

pneumatic process valves. ROTEX has established an excellent position in these markets.

SERVICE DIVISION

As with the OEM Division, the business operations of the Service Division also suffered a

significant drop in sales in 2015. Supported by currency exchange rate effects, the Service

Division achieved an increase in year-on-year revenue of approximately 4.1 percent by

year end.

Weak mature marketsThe Service Division suffered declining business primarily in the mature markets, most

notably in the natural gas upstream sector in the USA and Canada.

The decrease in sales was also partly attributable to the sale of the service business for

turbomachinery in Europe. Effective July 31, 2015, the previous subsidiary HOERBIGER

Turbomachinery Service B.V.B.A., Stekene, Belgium, was sold to management. The management

buyout ensured uninterrupted customer support and continued employment of the staff

beyond the exchange of ownership.

On the other hand, HOERBIGER Engineering Services managed to increase its market

share in the USA by more than 30 percent. Despite the difficult economic environment,

it attracted strategically important new customers for stationary gas engine upgrades in

the pipeline industry.

An important step toward reviving the Service business in Canada was the signing of a

Material Stream Agreement with Above and Beyond Compression Inc. (ABC) in October 2015.

ABC is a leading supplier of engine and compressor components for customers in the gas

industry, and is located in western Canada.

“ The success of HOERBIGER Engineering Services in the USA proves that even in difficult times we can make an important contribution to our customers’ added value with premium technical service solutions.”

Dr. Markus DigruberExecutive Vice President Mature MarketsHOERBIGER Kompressortechnik Holding GmbH

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“ EVEN DURING THE DEVELOPMENT STAGE I REPRESENT THE INTERESTS OF MY FUTURE CUSTOMERS.”





Graham Tyers.





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39 actuators and 23 compact power packs – Gotthard Gawens did not expect the order for HOERBIGER TriVAX™ valve actuators to be this extensive when a potential new customer inquired a few weeks earlier about the performance features of the innovative electrohydraulic valve actuator.

Just as soon as the products were shipped, on time of course, another order

followed. Gotthard Gawens is excited.

For Gotthard Gawens, TriVAX™ is more than a valve actuator. The compact

power unit played a decisive role when he left his employer, a competitor,

to join HOERBIGER three years ago.

Even while working for his previous employer, Gotthard Gawens pushed for

the development of an electrohydraulic drive system:

“Hydraulics offer unbeatable qualities, but have the reputation of being high-maintenance and prone to leaks. With the closed TriVAX™ system, we protect our customers from these drawbacks.”

Gotthard Gawens personally stands fully behind “his” product. It’s a trait

that benefits him in his day-to-day work. As product manager, he must be

able to anticipate the expectations of his future customers.

“Even during the development stage, I must represent the interests of the customer. Afterwards, the art lies in conveying that I already have the technology that the customer needs – even if he doesn’t know it yet.”

This kind of persuasion is not easy, especially in conservative markets such

as the oil, gas, and process industries, which makes him all the more proud

of the first major order.

Gotthard Gawens





Graham Tyers.





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SERVICE DIVISION




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Positive developments in the emerging marketsPositive business signals in 2015 came from the emerging markets.

Having recovered considerably over the previous year, the Eastern European region in

particular was strong operationally. Sales also rose in the Asia-Pacific and the Middle East

and Africa regions.

In contrast, HOERBIGER suffered a significant decline in sales in Latin America. Decisive

factors here were not only lower order volumes, but also the continued difficult political and

economic situation in the region. This primarily impacted business in Brazil, and especially

TURBOTECH Engenharia LTDA in Salvador (Bahia). This company specializes in upscale

engineering and project management services for turbomachinery, and was acquired by

HOERBIGER in 2014.

Positioned for new growthIn 2014, HOERBIGER launched Project Springboard, a global change project that supports

the necessary transformation of the Service organization from a valve repair provider and

replacement parts supplier to a customer-oriented global Solution Partner.

In the first step of this transformation, the portfolio covering both mature and emerging

markets was realigned and assigned organizationally to two new segments: the Solutions

Segment, which is geared to all-encompassing services, and the Parts & Repair Segment,

which continues to focus on the traditional substitution of replacement and wear parts.

“ We firmly expect the emerging markets to continue to grow long-term, despite all the recent problems. Our pioneering work in the new Wellhead Compression, Turbo Services, and Engine Services Business Segments, as well as our global presence, will have a favorable impact.”

Franz GruberExecutive Vice President Emerging MarketsHOERBIGER Service Latin America, Inc.

The necessary technological know-how is provided by experts from the four product lines:

Recips, Engines, Turbo, and Wellhead Compression.

Upgrade and revampOne of the core competencies of the Service Division in the Solutions Segment is the upgrade

and revamp of reciprocating compressors and gas-powered engines.

In the USA, for example, HOERBIGER won an attractive order to increase the reliability,

energy efficiency, and capacity of several reciprocating compressors in hydrogen plants.

The Service Division additionally overhauled a total of 19 reciprocating compressors for a

major pipeline operator. This project included reducing the emissions of gas engines used to

drive the compressors, and revamping the equipment to meet new environmental regulations.

REE entry into service contractsReliability, Efficiency, and Environmental soundness (REE) are also the focus of the REE Audit

that was launched as a new service offering in 2013/14.

Under the REE program, HOERBIGER experts use their knowledge and experience to audit

customers’ reciprocating compressors. They then analyze each compressor’s technical

equipment, and its performance in different operating states and under changing loads.

This information is used to prepare proposals that will effectively enhance the performance

of the compressor and the plant that depends on it. Customers generally benefit from these

proposals, so the reputation of HOERBIGER REE auditors in the market is accordingly high.

HOERBIGER REE Audits are now generating an appreciable share of business, most

notably in the mature markets. In 2015, for example, a number of attractive master agree-

ments were again concluded based on recommendations from REE audits.

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Wellhead Compression remains a model for successThe Wellhead Compression initiative is a success that paves the way for the development of

the Solutions Segment. As part of the new business model developed seven years ago in

Latin America, HOERBIGER makes mobile compressors available to oil and gas production

customers for a contract period as a lease fleet provider. The units allow these customers to

economically extract residual amounts from largely depleted oil and gas fields.

The Wellhead Compression initiative continues to be one of the most important growth

initiatives in the HOERBIGER Group. To be able to successfully expand the business model, in

2015 the Wellhead Compression activities were realigned throughout the Group. Spearheaded

by the HOERBIGER Service organization in Latin America, a Center of Excellence was established

that now supports all projects and inquiries worldwide. To maintain closeness to the customer,

regional contacts were assigned to the areas of Application Engineering, Field Service,

and Business Development in the Asia-Pacific (APAC), Middle East & Africa (MEA), and

Eastern Europe (EAST) service regions.

The prototypes of a new generation of Wellhead Compression units were launched in 2015

at the facility of a key customer in Argentina. In the design of these new units, developed

jointly with compressor manufacturer Sertco, HOERBIGER was able to apply all the experience

it had collected with the first generation of Wellhead Compression units.

One of the unique features of the new Wellhead Compression units is the option of online

monitoring. For HOERBIGER, this is a crucial step toward the plan to offer customers full-service

operator models in the future via the leasing of Wellhead Compression units.

New business models for Parts & RepairHOERBIGER is also providing new impetus through innovative business models in Parts

& Repair, the traditional second segment of the Service Division.

Going forward, HOERBIGER will offer its customers new service products that are no

longer solely about replacement and spare parts for compressors and machines. Instead,

the new products will provide contractual agreements on the availability of valves and

components. The first pilot customers were acquired in 2015.

PRODUCTION DIVISION

The Production Division in 2015 once more made its mark as the driving force on the path to

new business ideas.

A key milestone was the Production Conference initiated by the Compression Technology

Strategic Business Unit, which in June 2015 brought Operations managers from all the Strategic

Business Units and Business Divisions together in Dresden, Germany. The goal was to

develop Group-wide unique manufacturing propositions: unrivaled competitive advantages

driven by innovative ideas from – and for – Operations.

“ Effectiveness in Production is necessary, but not sufficient. Operations has to change the way it thinks and acts in order to implement new business ideas and actively contribute to the corporate strategy.”

Hannes HunschofskyChief Operations Officer and Head of Production DivisionHOERBIGER Kompressortechnik Holding

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Departing from established mindsetIn the Compression Technology Strategic Business Unit, Production actively participates in

the development of new business ideas. This involves multifaceted initiatives aimed at boosting

Production’s efficiency and effectiveness, along with the standardization of technologies

and processes, and a consolidation of locations that is beneficial for both the Strategic

Business Unit and the HOERBIGER Group.

Translating this approach into success will require a departure from the established

mindset – thinking outside the box on the part of Strategic Business Units and Business

Divisions, and learning from each other.

In 2015, Production in the Compression Technology Strategic Business Unit achieved significant

productivity increases with new platform concepts, innovative manufacturing systems,

and the partial automation of previously largely manual manufacturing processes.

Key process management projects were dedicated to optimizing shared logistics chains

with important customers. The guiding principle for the supply chain is the long-term

objective of delivering first-rate quality products to the customer, within just one day, at

steady production costs, even with a lot size of one.

The adoption of a globally applicable Quality,

Environment, Health and Safety (QEHS) Mission

for the HOERBIGER Group in October 2015 was

an important milestone for the continued

development of high manufacturing standards

at HOERBIGER.

The inspiration for the pioneering mission

statement came from a workshop held as part of

the Production Conference in Dresden. It was

supported by the Operations managers of all the


HOERBIGER QEHS Mission

It was preceded by the appointment of a top

manager solely in charge of Quality, Environ-

ment, Health and Safety. Since January 2016,

he has expedited the implementation of the

QEHS Mission on a Group-wide basis, networ-

king with the Strategic Business Units and

Business Divisions.

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“ THE QEHS MISSION PROTECTS OUR BUSINESS.”





















at HOERBIGER.













Business Divisions.

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Christian Keis joined HOERBIGER in 2011 as Quality Manager. Today, he is Head of Global Quality Management & Environment, Health and Safety (QEHS) in the Compression Technology Strategic Business Unit.

“When I started at HOERBIGER, every site had its own local health and safety guidelines. There was no comprehensive QEHS mission that applied to the entire Group.”

Numerous customers, especially those in the oil and gas and automotive

industries, require their suppliers to provide commitments based on QEHS

principles and corresponding certifications. These documents are mandatory

for companies to be considered when contracts are awarded.

“With our local QEHS guidelines, we were no longer the benchmark. I planned to change this.”

Christian Keis took the initiative. In 2015 he brought together the appropriate

experts from the Strategic Business Units and Business Divisions and from

Corporate Risk Management, and collectively they developed a cross-divisional

HOERBIGER QEHS Mission that is now in effect worldwide.

“The engagement from everyone involved was high. We made progress very quickly.”

In October 2015, the team presented the draft of the QEHS Mission to the

Executive Board. And they did so successfully: the proposal was accepted.

“Our next goal is to advance our QEHS performance everywhere to achieve excellence.”

Christian Keis





















at HOERBIGER.













Business Divisions.

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Clear structures in Rings & PackingsThe relocation of Rings & Packings production from the Bradford site in England to

HOERBIGER Ventilwerke in Vienna, Austria, in 2015 was an important operational step

toward streamlining production structures in the Compression Technology Strategic Business

Unit. This Segment has developed very positively since the engineering and production

responsibilities for rings and packings in Europe were established at HOERBIGER Ventilwerke

in 2006. The process was successfully completed with the relocation of the remaining

production capacity from Bradford to Vienna.

Concentrating US production in FloridaHOERBIGER will make significant investments in North America by the end of 2017 for a

new manufacturing location in Coral Springs, Florida, USA. The plan is to consolidate US

production for the Compressor Solutions Segment in one location.

Entirely on schedule: WIENeuConstruction of the new HOERBIGER location in Vienna-Aspern, which started with a

ground-breaking ceremony in June 2014, made significant progress in 2015. By the end of 2015,

the 45 million euro project had already progressed far enough for the first departments to

move into the new building in the spring of 2016, in accordance with the schedule. The

opening ceremony for the new location will be held in June 2016 as part of the HOERBIGER

Business Meeting.

In 2016, the extra mile matters

2016 will remain a year filled with major challenges for HOERBIGER. This is especially true for

the Compression Technology Strategic Business Unit, which will take further measures to

align its structures and processes to market changes and the resulting changed needs of its

customers.

In the Service Division in particular, HOERBIGER will expedite the transformation from a

provider offering traditional compressor valve services to a partner for customized solutions,

in order to grow considerably more profitably in the long term.

The employees of the Compression Technology Strategic Business Unit are prepared to go

the extra mile together.

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DELIVERED ONPROMISE –EXCELLENT JOB

DRIVE TECHNOLOGY STRATEGIC BUSINESS UNIT

2015 was one of the most successful fiscal years ever for the Drive Technology Strategic Business Unit. All expectations from the planning process were exceeded.

In 2015, the Drive Technology Strategic Business Unit boosted sales compared to the previous

year by 5.4 percent to 357.9 million euros, delivering an outstanding performance. These

figures include the Transmission Comfort Business Segment that was incorporated from the

former Automotive Comfort Systems Business Division.

Signs of the excellent trend were already on the horizon at the beginning of the year.

In sum, the order volume acquired in 2015 again significantly surpassed the strategic targets

by year-end.

Successful production start-ups with local OEMs helped to improve the market position

considerably, especially in China. An important foundation for continued growth in

the Chinese market was also laid with the expansion of the local manufacturing location.

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“ We have a common goal in the Drive Technology Strategic Business Unit: we want to grow and win.”

Thomas EnglmannCEO of the Drive Technology Strategic Business Unit


2015 – the global automotive industry is growing

2015 was an outstanding year not just for HOERBIGER, but for the automotive industry as

a whole. Historically low crude oil prices and continued growth in Asia appreciably fueled

demand for new vehicles.

According to the Verband der Deutschen Automobilindustrie e.V. (VDA, German

Association of the Automotive Industry), the number of new vehicles sold worldwide rose

by 2.8 percent in 2015, to 78 million vehicles.

In Western Europe, the automobile market developed better than forecast, and at 9 percent

growth posted the highest increase in 25 years. Parts of Eastern Europe, in contrast,

are still marked by the global economic crisis. Russia’s market in particular is drastically

on the decline, reporting a drop of 36 percent.

2015 was considered a record year for the US market. With 17.4 million new vehicles,

sales surpassed the previous high.

The Chinese market was not able to maintain the double-digit growth rates of recent years,

but at an increase of 9 percent still achieved a good result. China thus continued to defend

its position as the world’s largest automobile market.

In India, 2.8 million new vehicles sold generated growth of 8 percent.

2015 registration figures compared to 2014 by region (January through December, respectively)

Registration figures by region * Volume Change 2014/2015 in %

Western Europe 13,201,000 9

Eastern Europe 2,373,000 –25.3

USA 17,386,000 5.8

Brazil 2,481,000 –25.6

China 20,047,000 9.1

India 2,773,000 7.9

South Korea 1,571,000 11.4

Japan 4,216,000 –10.3

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Experts from the German Center of Automotive Management (CAM) expect sales in the automotive

sector to continue to rise in the coming years: “The automotive industry will remain on a

growth trajectory in 2016, but has to be prepared for increasing volatility and continued high

competition intensity,” the CAM forecast reads. As a result, the forecast says, global market

position and high flexibility will become increasingly important factors for companies in the

automotive sector going forward.

Asia in particular still holds development potential. The vehicle market in China will grow

in the high single-digit range.

According to information from the VDA, only 22 passenger cars are registered per

1,000 inhabitants in India. The sector consequently anticipates further growth here again in

2016 – in part favored by a growing middle class, low crude oil prices, and low interest rates.

There are also positive signs for North America. Associations anticipate continued

increases, in particular in the USA.

CAM also forecasts growth of approximately 5 percent for Western Europe in 2016.

In contrast, the automobile markets in Brazil and Russia are not expected to experience

revitalization in 2016, according to CAM estimates.

Demand for manual transmissions unabated

Demand for motor vehicles equipped with conventional internal combustion engines and

manual transmissions is unabated worldwide.

This is not likely to change in the foreseeable future. While electrically powered vehicles

are available in the market, high-volume production is still in its infancy.

The market still offers attractive growth potential for the Drive Technology Strategic

Business Unit, which presently supplies synchronizers for approximately 15 percent of the

worldwide market for vehicles equipped with conventional manual transmissions.

This potential comes primarily from new contracts gained as a result of a clearly superior

technological competitive position.

The steel-forming technology developed in-house, combined with high-performance

friction linings for synchronizers, gives HOERBIGER an unrivaled technological position.

HOERBIGER synchronizers are therefore a performance-defining component of modern

powerful dual-clutch systems. HOERBIGER friction systems have set standards in the

international synchronizer market for years.

Synchronizer design and system expertise – even covering the design of entire transmissions –

is an essential strategic pillar, and at the same time a decisive success factor, for the Strategic

Business Unit.

HOERBIGER is the world leader in this field. An ever-growing number of global and local

customers utilize this system development expertise to benefit from HOERBIGER’s experience

and performance capability as a development partner not only in new transmission develop-

ments, but also when it comes to optimizations and modifications.

Number one worldwide for synchronizers

Seeking to take advantage of the growth potential available in the market, the Drive

Technology Strategic Business Unit developed a strong vision: to be the number one for

synchronizers worldwide.

The expectation behind this vision is to create superior solutions with high value for

the customer through a technological edge and the achievements of all employees, while

assuming responsibility for the operational implementation, efficiency, and quality

of processes and products at every level of the Group.

The Balanced Scorecard compiled in 2014 and its specific target objectives aid in

the implementation of the strategy. It ensures that all initiatives and programs are aligned

with the strategic objectives. All employees keep the strategic goals in mind as part of

their everyday work.

In 2015, the Balanced Scorecard was expanded by adding another topic: energy

management. To be successful long-term, management and employees understand that

it is also important to operate sustainably – in both economic and ecological terms.

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Innovation

Expansion and meaningful addition to organization

The organizational structure of the Drive Technology Strategic Business Unit, which in

January 2015 was adapted to the strategic objectives of the Balanced Scorecard, proved to be

successful. Nonetheless, it was expanded and supplemented in a meaningful way over the

course of the year.

The In-house Consulting department is a new addition. This young and creative team,

which is also favored as a way to prepare junior professionals from within the company’s own

ranks for future managerial tasks, supports the global growth and efficiency programs of the

Strategic Business Unit. The in-house consultants assume project management responsibility,

relieving the line organization.

Integration of the Commercial Vehicle Segment

As a consequence of the internal reorganization of the business activities of the existing

Automotive Comfort Systems Business Division and of the hydraulics activities within the

HOERBIGER Group, the Transmission Comfort Segment was integrated into the Drive

Technology Strategic Business Unit in June 2015. It has since formed the core of the new

Commercial Vehicle Segment.

The portfolio includes pneumatic shifting units and pneumatic gearshift support systems

for trucks and buses, plus pressure control and pressure relief valves.

The continued development of the Commercial Vehicle Segment centers around the

acquisition of local customers in China, the world’s largest market for commercial vehicles.

The medium-term goal is to expand the Commercial Vehicle Segment into another mainstay

of the Drive Technology Strategic Business Unit in China.

HOERBIGER ClassicLINE DCT Type

With the ClassicLINE DCT Type, HOERBIGER

developed the world’s first synchronizer that

features an optimized design specifically for

dual-clutch transmissions (DCTs).

Their advantage is that each synchronizer unit

saves approximately four millimeters compared

to the previous standard design. The installation

space needed for a complete DCT transmission

decreases by as much as 10 percent, opening

up valuable design freedom for transmission

manufacturers.

As a result of its shorter shift travel, the

HOERBIGER ClassicLINE DCT Type also cuts

the shifting time by up to 100 milliseconds,

allowing the new design to achieve more

dynamic gear shifts – a feature that is especially

relevant in dual-clutch transmissions

designed for spirited driving.

The HOERBIGER ClassicLINE DCT Type

synchronizer also sets itself apart when

it comes to noise. Thanks to special teeth,

the syn chronizer experiences lower angular

momentum during shifting. This minimizes

the audible “clack” sound during shifting,

which is often perceived as an unpleasant

side-effect of dual-clutch transmissions.

Growth drivers: powerful synchronizers and friction systems

In the traditional synchronizer segment, innovative system solutions are key drivers of

growth. The HOERBIGER ClassicLINE DCT Type is the world’s first synchronizer featuring a

design that is specifically optimized for dual-clutch transmissions (DCTs). HOERBIGER

unveiled the innovative system solution in June 2015 at the VDI Congress in Friedrichshafen,

Germany, and in December at the CTI Symposium in Berlin, Germany.

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“ CUSTOMERS ARE LOOKING FORWARD TO THIS DEVELOPMENT.”

Innovation





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The prototype slowly gets going. Andreas Dempfle keeps an eye on the monitoring screens. “I conducted over 100,000 simulation calculations for this system. What we’re about to see is the result after more than a year of hard work.”

When Andreas Dempfle reads the initial results a few minutes later,

he appears visibly more relaxed:

“All is good!”

Developers hope the components that Andreas Dempfle is testing on the test

benches of HOERBIGER Antriebstechnik GmbH will considerably improve

the shift comfort of dual-clutch transmissions.

The moment when a prototype must prove its worth for the first time is

always very special for Andreas Dempfle: “It’s always an exceptional event

for me whenever an advantage we expect an innovation to bring can be

measured this well,” says the manufacturing engineering graduate.

“Specifically, when vehicles equipped with our systems shift more quickly, more quietly, as well as more smoothly. Our components significantly increase driving comfort. Customers are already looking forward to this development.”

For Andreas Dempfle, there is almost no greater show of recognition than

that of his contacts in the major automobile groups.

“You develop a certain bond to the product over the course of the development period. The greatest thing for me is when I see vehicles that contain our development work on the road. Then, we did a good job.”

Andreas Dempfle

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course of the year.





























manufacturers.






















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Carbon technology in the high-volume segment

Given decades of experience in tribology, HOERBIGER also has a clear edge in the development

of friction systems. Whether the driving style is spirited or comfortable, HOERBIGER friction

systems ensure smooth and reliable shifting in all situations. They remain quiet at both high

and low temperatures, over the entire life of the vehicle.

HC200 Friction Lining

Modern synchronizers are high-performance

systems. Powerful carbon-based friction linings

are increasingly becoming the standard,

especially in dual-clutch transmissions, which

due to the use of high-additive transmission

fluids cannot be equipped with metallic friction

materials.

Manufacturing processes for synchronizer rings

equipped with carbon linings are very complex.

Unlike metallic friction systems, the carbon

lining normally must be bonded to a previously

formed synchronizer ring.

This is not the case with the new HOERBIGER

HC200 carbon friction lining, however. Here, the

friction material is not produced separately, but

is instead applied directly to the formed support

ring and cured together with this ring to yield the

finished synchronizer ring. The friction lining is

based on carbon particles and active frictional

fillers, which are integrated into a special resin

matrix that resists high temperatures.

As a result, the HOERBIGER HC200 carbon

friction lining reduces manufacturing costs

compared to bonded carbon linings. At the

same time, it is far superior to metallic linings

in terms of performance and oil compatibility.

In the HOERBIGER portfolio, it makes carbon

technology interesting for the high-volume

segment by closing the gap between traditional

sintered friction linings and the high-end HC300

and HC310 bonded carbon friction linings.

Attaining market leadership in China with technology and localization

Developing a leading position in the Chinese market is an essential strategic goal for

HOERBIGER’s growth. In 2015, the Drive Technology Strategic Business Unit at the Changzhou

site started production on schedule for a number of contracts from the Chinese automobile

industry. The Drive Technology Strategic Business Unit was also pleased to again win

attractive new projects in China in 2015.

INCH14 – Shift to Asia

With the opening ceremony of a new manufacturing facility, the Drive Technology Strategic

Business Unit completed its third expansion stage in January 2016 at the Changzhou site in

China.

This marked the full localization of all products and services needed to offer complete

synchronizer systems for car transmissions in China.

In total, 50 employees were involved in the capacity expansion. Sub-projects addressed all

the areas needed to develop Chinese production and for the associated transfer of know-how:

training the employees in China

plant technology for full-scale production: metal forming, tool and die design,

vibratory grinding, nitriding, bonding, and system assembly

expansion of the new manufacturing facility

establishment of local suppliers for steel, stampings, tool replacement parts,

and operating resources.

The Changzhou location had previously reached an important milestone for localization in

China in the spring of 2015, when it was awarded ISO 14001 environmental certification by

TÜV SÜD China. The auditors were particularly impressed by the plant’s water treatment

system. They also recognized the processes for waste management and the prevention of

environmental damage as exemplary practices. Following the certification of the plant in

Changzhou, all the locations of the Drive Technology Strategic Business Unit are certified to

ISO 14001.

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China.

















ISO 14001.

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The smells, the food, the business partners, the mentality: when Fabian Schmidt landed in Changzhou for the first time, everything in the city, which in spite of its four million inhabitants is only a village by Chinese standards, was new to him. Not even two years later, he is almost at home here and has brought a piece of his professional home to China: HOERBIGER’s metal forming and bonding technology.

“Intercultural skills are expected of every employee these days. While localizing metal forming and bonding for synchronizer rings in China, I learned what this really means.”

As the Project Leader, Fabian Schmidt had to establish compatibility between

China and Germany at all levels. At the same time, he himself had to learn

to understand an environment that was new to him. “The laws and approval

processes are different than in Germany, as is the employees’ know-how,

or the workflows of the sub-contractors.”

“To achieve our goal, clear and resolute leadership was needed from me, yet I also had to be considerate of the specific framework conditions in China.”

Fabian Schmidt mastered this challenge. When the first synchronizer

ring produced in the local bonding operation rolled off the line in China,

excitement was also high in Germany.

“The amount of support I received from my colleagues in Germany as a result of their experience was overwhelming. In China, I had the opportunity to work with a very young and dynamic team that, over the course of the project, has grown very cohesive. All of this helped us successfully expedite the localization of production in China.”

Fabian Schmidt

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ISO 14001.

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HHDTS – a new force in China

Strategically the most important project in 2015 for the Business Unit in terms of further

growth in China was the agreement on a joint venture with Chengdu HAONENG Technology

Co., Ltd., Chengdu, China.

HAONENG is one of China’s leading manufacturers of synchronizer components.

In Luzhou, HAONENG manufactures brass synchronizer rings, engagement bodies, and

crucial components for dual-clutch transmissions. Known in the industry under the Luzhou

Changjiang brand, the plant is the leading producer of synchronizer rings in China. The Chengdu

plant specializes in forged steel synchronizer rings for passenger cars and commercial

vehicles. The Chongqing plant is a professional manufacturer of sleeves and hub systems,

supplying the market with excellent-quality, cost-efficient products.

Operating under the name HAONENG HOERBIGER DriveTech (Shanghai) Co., Ltd (“HHDTS”),

the cooperation agreed within the scope of the newly founded joint venture covers the

engineering, sale, and trade of synchronizer components and systems for automobile trans-

missions in China.

The joint venture entity commenced operations on March 1, 2016 at its headquarters in

Shanghai.

The vision and mission of HOERBIGER and HAONENG are an excellent fit. The vision

that the newly appointed management has formulated for the joint venture is clear:

“We synchronize – 我们同步一致”.

Production as a growth driver

In the Drive Technology Strategic Business Unit, manufacturing technology and superior

production systems are crucial drivers for the successful performance of the individual

production sites.

For partners to the automotive industry, standing up to international competitive pressure

means continually keeping up with the learning curve that follows consumer prices. In other

words: cost transparency and cost management are crucial variables when it comes to the

economic success of a long-term contract.

This requires more than just continuous improvements and individual streamlining steps.

Production also expects to develop entirely new manufacturing methods and processes with

“next technology” projects, so as to contribute to the Strategic Business Unit’s cost

leadership.

The location in Changzhou, China, delivered an outstanding performance in 2015.

The young and highly motivated team successfully started numerous new projects within the

planned schedules and budgets, and overcame last-minute fluctuations in production volume

with great flexibility.

Drive Technology’s lead plants additionally continue to ensure the positive development

of the Strategic Business Unit. Plant 1 in Schongau, Germany, specializes in traditional

synchronizer and friction systems, while the plant in Oberstenfeld, Germany, specializes in

sleeves. Both were of decisive help in achieving the strategic and operational targets.

The Penzberg plant, which specializes in stamping and metal forming technology, was

able to create new and unique manufacturing features in 2015, and so make an important

contribution to securing the business location. Following difficult times, the Waterloo plant

in 2015 was again sustainably profitable for the second year in a row.

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missions in China.


Shanghai.







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The Oberstenfeld plant of the Drive Technology Strategic Business Unit is undergoing a profound transformation: traditional job shop production, where an area in manufacturing – organized by technology – is assigned to each processing step, is being replaced with line production. This requires the manufacturing process to be broken down into segments, and the layout of the machines follows the process flow.

“When we segment the production process, in other words organize it according to the flow of the items and no longer separately by departments, and pace the manufacturing steps in cycles that eliminate waiting periods, we need less storage space for semi- finished products. This means smaller buffers, and lower capital commitment.”

Dr. Christian Reuter, Head of the Operations Center in the Drive Technology

Strategic Business Unit, explains the change. In this function, he is in charge

of “Segmentation” in the Oberstenfeld plant, serving as the Project Leader.

“Segmentation in Oberstenfeld is our pilot project,” he comments. “Here, we evaluate to what extent it is useful to switch other plants in the Drive Technology Strategic Business Unit to line production.”

Profound modifications such as changes to the manufacturing processes

require careful planning, and advantages and disadvantages must be

weighed conscientiously. It helps with the assessment to be able to refer to

pilot or reference projects where segmentation is already bearing fruit.

With this in mind, the first manufacturing segment was set up according to

line production principles in Oberstenfeld in November 2015. The success

is clear.

“We were able to increase utilization of the machines in this part of Operations by approximately 20 percentage points. This makes sense and requires no explanation on my part. A result like that makes the undertaking a sure-fire success,” adds Dr. Christian Reuter.

Dr. Christian Reuter















missions in China.


Shanghai.







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Synergies, modern production technology …

The creation of the Global Production & Technology department and the development of a

Global Operations Center in July 2015 were important steps toward greater flexibility and

efficiency in Production.

The new structure took the place of the Operations department and its division into the

Sleeve Systems and Friction Systems Product Units.

The new Global Production & Technology department now bears responsibility for the

manufacturing plants of the Drive Technology Strategic Business Unit, as well as for the Metal

Forming Technology Center of Competence (CoC) and for Industrial Engineering.

The Global Operations Center is in charge of production planning. Process optimization

methods such as lean management and supply chain management will improve processes

and cut production costs, as well as quality standards.

One contribution that Penzberg is making to safeguard the site’s competitiveness is to

become fully integrated into the synchronizer manufacturing process. The first steps began in

2015: in addition to disks for automatic transmissions, HOERBIGER Penzberg GmbH now also

produces synchronizer clutch components.

At the Schongau location, a central HOERBIGER tool and die shop was established by

consolidating machining expertise from HOERBIGER Kompressortechnik GmbH’s Tool & Die

Design with the corresponding resources of HOERBIGER Antriebstechnik GmbH under the

management of the Drive Technology Strategic Business Unit. The merged know-how of the

two teams, plus better utilization of machines and equipment, has created valuable synergies

for everyone involved. In the future, expensive new equipment will be procured and operated

considerably more economically.

At the Oberstenfeld site, the Drive Technology Strategic Business Unit is investing in new

low-pressure carburizing equipment for hardening the sleeves manufactured here.

The new machine will be put into operation in October 2016. A predecessor of this machine,

the pusher-type furnace of HOERBIGER SynchronTechnik in Oberstenfeld, was decommis-

sioned in the fall of 2015. The furnace had been in use for 30 years, hardening some 35 million

sleeves during this time.

… and new growth projects

Last but not least, the strategic growth projects being pursued in Procurement and Production

are also of utmost importance for the continued development of the Drive Technology Strategic

Business Unit.

With the expansion of manufacturing capacities in China completed in January 2016,

the Drive Technology Strategic Business Unit concluded an essential strategic growth project

in Asia.

One goal for 2016 is to create the conditions for sustainable growth in Europe through new

initiatives. Increasing the vertical integration for sleeves made of steel will be one focal area.

In the future, the plan is to manufacture some of the required preliminary stages in-house,

rather than externally as at present.

Close cooperation between Procurement and Production is essential for these types of

growth projects. As part of the Growth 500+ project, in 2015 a cross-departmental and

cross-location team achieved considerable reductions in material expenses. The resulting cost

advantage improved competitiveness and aided the Drive Technology Strategic Business Unit

in acquiring new customer orders in 2015.

Beyond Synchro: drive concepts for the future

The order books of the Drive Technology Strategic Business Unit are well-stocked for the

coming years.

Management and employees will not rest on their laurels, however. While the Strategic

Business Unit is expected to grow sustainably and remain successful in its established core

business of synchronizers for many years to come, management has already set the course to

begin molding the future.

The efforts center around the mobility systems of the future, which will require new drive

concepts.

Under the motto “Beyond Synchro,” the Drive Technology Strategic Business Unit launched a

number of initiatives in 2015. Their goal is to align the HOERBIGER brand, and consequently

the Business Segments, with new technologies and products for the drive train of the future,

and to position HOERBIGER as a partner to the automotive industry.

This much is certain: many of the competencies that are available now in the Drive

Technology Strategic Business Unit will also be required for future vehicle architectures

such as hybrid drives. Additionally, the new capabilities that will be needed will have to be

developed in the coming years, either organically or, if need be, through acquisitions.

To spur the debate on this challenge, the Drive Technology Strategic Business Unit created

a dedicated room for creative imagination – the HOERBIGER Innovation Room in Schongau.

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Michael Studli is a discoverer. When he speaks about his work, it’s about the discovery of new continents, the right equipment, and travels to exciting destinations. These are the images that Michael Studli likes to use when speaking about innovation in the Drive Technology Strategic Business Unit.

The native Canadian came to Europe to become acquainted with European

corporate culture while pursuing his Master’s degree. Even before he

graduated, HOERBIGER recruiters kept an eye on Michael Studli – and

ended up bringing him on board of HOERBIGER Antriebstechnik GmbH

in Schongau.

“I had a great opportunity here to write my Master’s thesis. That was my first contact with Beyond Synchro, the innovation project of the Drive Technology Strategic Business Unit.”

HOERBIGER hired Michael Studli immediately after he earned his Master’s

degree – giving him great responsibility. As Head of Global Business Innovation,

he is directly involved in developing the strategy of the Business Unit. His

topic is innovations that go beyond existing synchronizer technology – well,

Beyond Synchro.

“What I do here is pioneering work. HOERBIGER is a good, sound ship with an outstanding crew. We’re setting sail now – on the journey to solutions for the drive technology of the future.”

Michael Studli learned a great deal even in the first few months of working

for HOERBIGER. To expand into entirely new areas of innovation, he first

must understand HOERBIGER, the company’s core competencies, the existing

technological development, and the qualities of the company. “Advancing

innovations has a lot to do with knowing your own role.” For HOERBIGER

this means visionary thinking, outside of the niche of synchronizer technology.

“If we accomplish that,” Michael Studli adds, “we will be perfectly positioned

for the Beyond Synchro expedition.”

Michael Studli

































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in Asia.












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COMPACTPOWER

HYDRAULIC SYSTEMS BUSINESS DIVISION

In 2015, the newly created Hydraulic Systems Business Division achieved sales of 110.5 million euros.

Sound growth rates came from the Compact Motion Technology Business Segment. In contrast, sales

declined in the Roof Hydraulics Segment as a result of the decrease in demand for convertible cars

worldwide.

The Hydraulic Systems Business Division focuses on powerful components and systems for applications in the automotive industry, mechanical engineering, medical technology, and the field of loading comfort.

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Innovation

Compact power solution provider

The new customer- and market-oriented structure supports the goal of developing HOERBIGER

from a pure component manufacturer into an expert solution provider for compact power

in the field of hydraulics – especially in the automotive, machinery and medical technology

market segments, as well as in custom motion solutions for sports

boats and recreational watercraft.

Customers in Europe are served by the sales teams of the Altenstadt, Barbing, and Schongau

locations in Germany. The Business Division assists its customers in Asia from the Wuxi

location in China, especially for important and high-volume relationships in the mechanical

engineering and special-purpose machinery industry, and the growing client base in medical

technology. The employees at the Auburn, Alabama, USA, site are highly qualified contacts

for customers in North America.

Compact Hydraulics Business Segment

The portfolio of the Compact Hydraulics Segment includes compact hydraulic power packs

and modular systems for the automotive industry, RVs, recreational watercraft, and applica-

tions in medical technology.

The global market for convertible top drives continues to post no noteworthy growth.

It is therefore all the more important to acquire the remaining production orders with newly

developed power units.

In 2015, the innovative Type 6 power unit was one of the products that aided HOERBIGER

in expanding market share in market segments where hydraulic roof drives continue to be

indispensable. While simple two-cylinder systems have been largely displaced by electric units,

there are almost no reliable alternatives to hydraulics for the complex drives needed for heavy,

multi-piece steel roofs.

“ Pooling the hydraulics expertise in one unit creates considerable growth potential for all Business Segments. We will shape our future together in a market-oriented corporate spirit.”

Type 7 Power Unit

The goal of the engineers was to achieve high

flexibility through design and production

standardization, so as to be able to address a

wide variety of customer requirements quickly

and without major design complexity. This will

also make it possible to cover multifaceted

requirements in other market segments, beyond

automotive applications.

Type 7: our latest hydraulic power unitIn 2015, HOERBIGER developed another innovative, electrically activated compact hydraulic

drive system as a universal unit for single-axis applications – the HOERBIGER Type 7.

Gerhard Messmer Head of Hydraulic Systems Business Division

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Type 7 Power Unit












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Martin Storz

Martin Storz walks through the corridors of the HOERBIGER office building in Schongau in a bit of a hurry. In passing, he absent-mindedly greets a colleague – an increasingly clear picture is forming in his mind that he does not want to lose. Finally, he knocks on a door and enters the office.

“I have an idea.”

This happens quite frequently. “Suddenly, two or three components fit

together exactly, and there is the idea that I immediately have to discuss

with my colleagues or my boss. If it were up to me, I would start with the

implementation right away,” says Martin Storz. He is Head of Advanced

Engineering in the Compact Hydraulics Segment of the Hydraulic Systems

Division. His latest project is the Type 7 power unit, an electrically activated

compact hydraulic actuator for multifaceted applications in industry.

“Our idea is to develop a modular system for hydraulic actuators. To do so, we must develop these power units as flexibly as possible.”

The focus always lies on the benefit for the customer. “As developers, we

want to convince our customers. That is what drives us. In spite of all the love

of development, every one of us has learned that not every idea is good from

the start, or can be implemented.”

Martin Storz compares his work in Advanced Engineering to that of a

meerkat: keep digging diligently, but emerge from the hole occasionally

to look around.

“Otherwise we lose sight of the context and the bigger goal. An idea is born quickly. Still, we must also think it through. This is our job now with the HOERBIGER Type 7 power unit.”

Innovation


























Type 7 Power Unit












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InnovationSales in the medical technology area of the Hydraulic Systems Division primarily come from

the compact hydraulic lifting columns for operating tables developed at the Barbing location

and the piezoelectric valves of the HOERBIGER Tecno portfolio, which are produced at the

Altenstadt site.

Sales activities in 2015 centered around the expedited market entry in Asia. HOERBIGER

developed the Column Trend Line (CTL) lifting column specifically for this market.

Loading Comfort Business Segment

The XETTO® loading and transport system from the Loading Comfort Business Segment was

consistently developed until it was ready to be brought to market.

The unique selling propositions of XETTO® allow HOERBIGER to occupy an attractive

market niche in the loading and transport aid segment for craftspeople and small businesses.

The compact system allows one person, using a single piece of equipment, to load and unload

a work vehicle with up to 250 kilograms of cargo. The system needs no special installations,

and does away with forklifts and pallet trucks.

The functional samples that were tested extensively in the market in 2015 confirmed the

economic and ergonomic benefits to customers of XETTO’s® unique selling propositions.

XETTO® picks up the cargo like a transport cart. It then turns into a pallet truck, lifts its

freight into the vehicle, "climbs" in behind it, and stows itself beneath the cargo. The entire

procedure is effortless for the driver, thanks to powerful electrohydraulics and cleverly

designed kinematics.

Unloading is also ingeniously simple: XETTO® extends out of the vehicle, creates a solid

footing for itself, turns into a pallet truck again, and allows drivers to transport their cargo

safely and easily without straining their backs.

HOERBIGER launched XETTO® in 2016 as a new brand for tradesmen, businesses, and

commerce. The rollout in additional European countries is scheduled for 2017.

XETTO®

The innovative combination of all aids necessary

for loading and unloading a small work vehicle in

a single piece of equipment is unrivaled –

making XETTO® a welcome helper for individual

craftspeople and larger businesses alike.

Thanks to its compact new power unit, XETTO®

fits under the cargo in practically any station

wagon.

XETTO® – I can do it alone …“I can do it alone...” is HOERBIGER's advertising slogan for XETTO®. The intelligent design of

this loading and unloading aid is clear in the way it can be operated by just one person,

saving craftspeople considerable personnel costs. The device pays for itself within just a few

months.

To further optimize benefits for users in various

trades and businesses, HOERBIGER offers

extensive accessories for the XETTO® system

in the form of both standard and optional

attachments.

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Machinery Business Segment

Components and systems for the sheet metal working industry are the core competence of

the Machinery Business Segment, especially compact hydraulic power packs for press brakes

from the HOERBIGER ePrAX® product portfolio and the HOERBIGER Laser Gas Regulator (LGR).

HOERBIGER continues to hold a strong competitive position, both in Europe and in Asia.

Unveiled to the expert community in 2014, the hydraulic ePrAX® basic control unit for

high-tonnage conventional press brakes was received well in the market.

The HOERBIGER ePrAX® control system is geared

primarily to OEM customers seeking to achieve a

flexible stroke with an open hybrid system that

combines energy efficiency and flexibility in the

design of press brakes.

Target customers are manufacturers of upper

mid-range press brakes, initially in China.

The HOERBIGER ePrAX® control system allows

energy savings of as much as 50 percent to

be achieved, with up to 10 percent greater

performance at the same time.

HOERBIGER ePrAX® control

Premiere 2016: HOERBIGER ePRAX® control

In 2015, the development of the HOERBIGER ePrAX® control system closed the gap between

basic and high-end applications for hydraulic drive systems for press brakes. The goal of the

Hydraulic Systems Division is for the HOERBIGER ePrAX® control system to cover an even

broader range of mechanical engineering applications in the future. The system will be

presented to the European market as part of the 2016 EuroBLECH show.

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Every week, Josef Ritzl has one set appointment in his calendar. It is for the “Fighting Triangle” conference call with his colleagues from Application Development, Sales, and Marketing.

“By tradition, we are a development-driven company. We’re very innovative and technologi-cally creative at a high level. Our conference call brings product specialists and market experts together. Our goal is to align our portfolio even more with the requirements of the customers and market.”

Josef Ritzl refers to himself as a HOERBIGER “institution.” 37 years ago,

he started his apprenticeship in compression technology, and he has never

stopped. Instead, he continually developed, covering many career stages.

Four years ago, Product Management was implemented, creating a new

organizational structure to make the company more market-oriented.

“For me, the task of being product manager is extremely exciting,” Josef Ritzl says. “I enjoy it because I have a lot of contact with various people and target groups, and I can make a difference.”

In 2016, for example, the HOERBIGER ePrAX® control system, a hydraulic control

unit for press brakes, was launched. With a development period of less

than one year, HOERBIGER closed the technological gap between standard

drive systems and the HOERBIGER ePrAX® press actuator as a high-end

solution, initially for customers in the Chinese market. “This was only

possible with collaboration and efficient product and project management,”

Josef Ritzl comments. And this is precisely why the weekly conference call

is important. The product management processes have since also been

implemented.

“We used to act intuitively. Now, we work toward a common goal. All the information that is necessary for our projects is available within the team at any time, allowing us to use our know-how and dedication efficiently.”

Josef Ritzl

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Hanns Hörbiger

Alfred Hörbiger

Martina Hörbiger

STANDARDS SINCE 1895

STABILITY AND CONTINUITY

Hanns Hörbiger, inventor and pioneer

In 1895, the steel plate valve invented by Hanns Hörbiger was patented. The

valve plate opens when the gas pressure is high enough, and closes as long

as the spring pressure is higher than the gas pressure.

The HOERBIGER steel plate valve enormously improves the performance

of compressors used in steel production, making production much more reliable

and efficient than anyone would have considered possible at that time.

The HOERBIGER steel plate valve, however, not only enabled the ad-

vancement of blast furnace technology, but also paved the way for the invention

of modern high-pressure chemistry. This made it one of the key technolo gies

for the industrial development at the beginning of the 20th century.

In 1900, Hanns Hörbiger, together with the engineer Friedrich Wilhelm

Rogler, founded an engineering office in Budapest. This office was relocated

to Vienna in 1903. In the years thereafter, Hanns Hörbiger devoted himself to

continually enhancing the steel plate valve he had invented. His office

issued licenses for use of the technology to business partners domestically

and abroad. In 1925, the engineering office became HOERBIGER & Co. trading

company, headquartered in Vienna.

Alfred and Martina Hörbiger

In 1931, Alfred Hörbiger, the second eldest son of the company’s founder,

started the in-house production of valves in Vienna-Simmering. Between

1925 and 1945, a total of 171 patents were granted for HOERBIGER & Co. for

inventions and developments in the field of compressor valves and controls.

After the destruction of the Vienna production plant during the last year of

the Second World War, and the sudden passing of Alfred Hörbiger, his wife

Martina Hörbiger, who also worked in the company, managed to rebuild

the plant.

The company’s product range, which until then was primarily comprised of

compressor valves and controllers, was expanded by new business segments

based on core competencies in the fields of fluid technology and stamping

technology. Initially, HOERBIGER was active in the pneumatics field. Just a

short time later, it established new plants in Germany – in Schongau and

neighboring Penzberg – for the production of steel disks for passenger car

automatic transmission as well as for friction linings and friction disks for

use in power-shift transmissions for construction machines and tractors. The

Pneumatics Division was then supplemented with the hydraulics segment.

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Reconstruction and globalization

Even before the Second World War, HOERBIGER sales branches were established

in Germany, Italy, and Great Britain. In 1947 Martina Hörbiger resumed international

business relations, first within Europe, then later in the Americas, Africa and Asia.

By the end of the 1950s, HOERBIGER had built its own distribution system in

North America, followed in 1963 by the founding of HOERBIGER Corporation of

America and the development of a production operation. In 1970, HOERBIGER

Nippon K.K. in Japan was founded, and initial contacts were established with

Taiwan, Korea, and China.

Hanns Hörbiger in the engineering office

Based on its compressor valve development and production expertise, in 1971 HOERBIGER

decided to systematically build a worldwide network of service entities for the maintenance

and repair of reciprocating compressors. This put the company clearly ahead of the

competition.

On the way to the Group

August 1989: Martina Hörbiger, owner of the group of companies, died at the age of 87. She

bequeathed the challenge of not only continuing business operations consistent with her

spirit, but also realigning the corporate structure – which in the years prior was centered

predominantly around her – to the new management team, which she had appointed prior

to her passing together with the Board of Trustees of the HOERBIGER Foundation.

The group of companies was incrementally reorganized after 1992. Having previously been

regionally organized in a variety of individual entities, business activities were assigned to

the three newly formed Strategic Business Units: Compression Technology, Automation

Technology, and Drive Technology. At the same time, the oil, gas and process industries, the

mechanical and plant engineering industry, and the automotive industry were defined as

strategic business segments.

Martina Hörbiger speaking with employeesHanns and Alfred Hörbiger

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HOERBIGER Board of Trustees (December 31, 2015). From left to right: 5, 3, 2, 1, 4

1 Dr. Marcus FlubacherPresidentBorn 1944 Member of the Board of Trustees since 1995

2 Dr. Gerd UnterburgVice PresidentBorn 1940 Member of the Board of Trustees since 2004

3 Christiana HörbigerVice PresidentBorn 1939 Member of the Board of Trustees since 1989

4 Dr. Rudolf HuberMemberBorn 1955 Member of the Board of Trustees since 2008

5 Dr. Andreas HünerwadelMemberBorn 1964 Member of the Board of Trustees since 2009

The Board of Trustees

The HOERBIGER Foundation, Zug, Switzerland,

is the majority shareholder and controls the

Group. It protects the entrepreneurial heritage

of the HOERBIGER Group, and ensures stability,

self-reliance, and a future-oriented growth stra-

tegy. The Board of Trustees of the HOERBIGER

Foundation is composed of the family shareholder,

Mrs. Christiana Hörbiger, active and/or former

members of the Board of Directors, and indepen-

dent advisors associated with the Group through

long-standing cooperation. The Board of Trustees’

sole mandate is to support the Foundation’s

mission and safeguard the inter ests of the

HOERBIGER Group. Its members have no opera-

tional management function within the

HOERBIGER Group.

Effective June 30, 2016, Dr. Marcus Flubacher

and Dr. Gerd Unterburg will step down from

both the Board of Trustees of the HOERBIGER

Foundation and the Board of Directors of

HOERBIGER Holding AG following many years

of dedicated service.

Dr. Andreas HünerwadelPresidentBorn 1964 Member of the Board of Trustees since 2009

Dr. Martin KomischkeVice PresidentBorn 1957 Member of the Board of Trustees since 2016

Christiana HörbigerVice PresidentBorn 1939 Member of the Board of Trustees since 1989

Dr. Rudolf HuberMemberBorn 1955 Member of the Board of Trustees since 2008

Egbert AppelMemberBorn 1949 Member of the Board of Trustees since 2016

With this in mind, the following resolutions were

passed at the Annual Meeting of the HOERBIGER

Foundation on May 12, 2016:

Dr. Andreas Hünerwadel will become President

effective July 1, 2016, assuming management

of the Board of Trustees.

After relinquishing his existing positions as CEO

and Chairman of the Executive Board of

HOERBIGER Holding AG effective July 1, 2016,

Dr. Martin Komischke will join the Board of

Trustees and hold the position of Vice President

of the HOERBIGER Foundation, along with

Mrs. Christiana Hörbiger.

Egbert Appel, a member of the Board of Trustees

since July 2012, will also become a member

of the Board of Trustees of the HOERBIGER

Foundation effective July 1, 2016.

Effective July 1, 2016, the Board of Trustees

of the HOERBIGER Foundation will have the

following composition:

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1995 saw further reorganization. In order to support continuing growth, the existing group of

companies, which was run by HOERBIGER International in Vienna and their management,

was restructured as a Group with a holding company and a central financial organization to

be headquartered in Switzerland in the future. All the necessary conditions were created in

Switzerland for developing the group of companies into a fully integrated corporate Group.

HOERBIGER Holding AG in Rotkreuz, Switzerland, became the umbrella organization for

the group of companies in 1997 and moved to Zug in 2000. The Group has since been managed

by the Board of Directors of HOERBIGER Holding AG and the Executive Board.

Performance counts

In 2003, HOERBIGER held its first international survey of all employees regarding corporate

culture. The results formed the basis of HOERBIGER’s corporate values: Pioneering Spirit,

Courage, Closeness, and Fairness. The HOERBIGER umbrella brand displayed a new, modern

logo in addition to the motto “Because performance counts”.

In 2005 the corporate structure was systematically strengthened and expanded. With the

expanded corporate functions Human Resources, Communications, Research & Development,

Business Development and IT, the Group enhanced its profile, both internally and externally.

In 2006, the HOERBIGER Group revolutionized its previous public image as a mere group

of companies. The three Strategic Business Units as well as the numerous foreign HOERBIGER

entities, which previously operated in the market as independent companies, increasingly

began to present their portfolios and services under the HOERBIGER umbrella brand in the

following years.

In 2007 the HOERBIGER Group formulated a new vision: “We set standards”. In 2009 and

2010 the worldwide management team developed a new mission to accommodate the growth

of the Group: EXCELLENCE & Focus.

In 2012 the Executive Board formulated a new cooperation and leadership guideline, titled

“TOGETHER”. In 2013, the Executive Board inaugurated the global STREAM program. The

objec tive is to establish a worldwide standardized process logic for the HOERBIGER Group

inside of three years, utilizing a highly tuned and efficiently structured IT architecture. In 2015,

the EXCELLENCE & Focus initiative was followed by the next step: Mission Excellence & Growth.

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COOPERATION AND LEADERSHIP

TOGETHER

It is the people at HOERBIGER who assure the success of the company. This has always been the case, and applies even more so today. Their excellent achievements move the company ahead and safeguard its future.

Conformity is undesirable at HOERBIGER. As a trendsetter in technological niche markets,

HOERBIGER is an enterprise in which new ideas need fertile ground.

With their dedication and performance, our employees have allowed us to rise from a family

business with European roots to an international technology group.

Men and women, of varying ages, from very different origins and with equally multifaceted

cultural backgrounds, work together at HOERBIGER every day. We value this diversity. It goes

without saying for us.

We believe that a modern guideline on cooperation and leadership in a cosmopolitan

company such as HOERBIGER need not focus on commonplace conceptions of leadership and

cooperation.

We attach much more importance to the guiding principles that shape our corporate culture.

It is these principles that make HOERBIGER a successful company around the globe, and at

the same time an extremely attractive employer.

People at HOERBIGER

We succeed because our people take responsibility for HOERBIGER’s success. We are successful

because we believe in success. We are interested in creative, entrepreneurially thinking

minds that develop new ideas and then implement them, clearly and with structure; people who

are willing to pull their weight, who are “hands on!”, and who are a part of HOERBIGER

in every situation.

We keep our promises. Once we set goals, we are committed to achieving these goals –

with all of our strength, determination, and abilities. We want to work with people who share

the same view and fit the corporate mold.

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Decision and change

HOERBIGER grants great decision-making latitude not only to senior managers, but to each

and every employee. This is the reason why our senior managers and employees think like

entrepreneurs. The freedom with which we are allowed to independently make decisions

motivates us.

Independent action is therefore desired, regardless of hierarchical levels or functions.

When we are convinced that things require change, we do not hesitate; we act.

By being allowed to make independent decisions and changes within a broad scope, each

employee bears individual responsibility toward the company. It is therefore important to us

that decisions always have a lasting effect and are reliable.

Responsibility

It is important to us to always keep the wellbeing of the entire Group in mind, aside from the

responsibility for the specific task at hand. We value diversity of knowledge, creativity and

opinions because we are convinced that we can deliver peak performance both as individuals

and as a team.

Cooperation across the boundaries of Strategic Business Units, functions and regions

helps us to successfully cope with complex topics and tasks. We solve problems that stand in

our way by everyone contributing unique skills and experience. When things do not quite

go the way they should, we expect each employee to take the initiative, if necessary across

hierarchical levels. Mistakes, and at times even failures, do not throw us off our course.

They inspire us to search for creative and innovative new approaches to solutions.

HOERBIGER cannot relieve any employee of the responsibility for their own plans for life

and a balanced harmony between work and family. However, we especially advocate that

young people, during their training phases with us, develop a personality which empowers

them to assume responsibility in every respect – for themselves, for their families, and for

their duties on the job.

Communication

Transparent communication is important to us. Clear agreements form the basis for our

cooperation – internally and externally. We deal with each other openly and honestly.

When we hold discussions among colleagues, we provide feedback to each other. When we

share criticism with each other, we do not consider this to be a manifestation of a lack of

appreciation or recognition, but always a challenge to achieve even better results.

Our senior managers provide comprehensive information to the best of their knowledge

and belief. They explain decisions so that all employees understand what is involved.

Leadership

We count on a stable bond between senior managers and employees. This is based on respect,

which in the truest sense of the word was developed over long periods of cooperation, good

communication, interest in different opinions, and competent interaction with differing

cultures.

Employees expect senior managers to be credible and to demonstrate leadership conduct

with honest intentions. They have the right to learn something from their managers and to

participate in their managers’ responsibility by way of delegation for the Group as a whole.

In order to develop strategically attractive business ideas and translate them into long-

term corporate success, our senior managers set targets with their employees which challenge

their personal potential and encourage their individual development.

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PERFORMANCE- DEFINING

PRODUCTS AT A GLANCE

Compression Technology Strategic Business Unit

Key components for reciprocating compressors Core Competencies

Valves Fluid technology

Rings and packings Mechanics

Control and monitoring systems Thermo and gas dynamics

Key components for air brake, refrigeration and air-conditioning compressors Metallurgy

Reed valves Polymer technology

Cylinder head units Piezo technology

Key components for rotary compressors Control engineering

Valves Electronics

Controls Software

Key components for industrial gas engines

Ignition systems

Controls and instruments

Engine management systems

Gas metering valves and actuators

Safety products and services

Solutions for dust, oil mist, and gas explosion protection

Consulting, engineering and testing services for custom explosion protection concepts

Solutions for electrostatic spark discharge prevention

Relief and check valves

Electrohydraulic safety valve actuators

Piezo-pneumatic pressure regulators and positioners

Services for compressors, turbines, and industrial gas engines

Consulting and engineering

Replacement parts and repair

Upgrade and revamp

System operation

Drive Technology Strategic Business Unit

Synchronizer systems for manual and dual-clutch transmissions Core Competencies

Pneumatic gearshift support systems Tribology

Design and testing of synchronizer systems Pneumatics

Design and testing expertise

Metal forming technology

Machining technology

Hydraulic Systems Business Division

Compact Motion Technology for mechanical and plant engineering Core Competencies

Hydraulic comfort systems for passenger cars Hydraulics

Electronics

Sensor systems

Software

Control engineering

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LOCATIONS

CLOSE TO CUSTOMERS WORLDWIDEHH = HOERBIGER Holding

KT = Compression Technology

AN = Drive Technology

HY = Hydraulic Systems

IO = Internal Organization/Corporate

LP = Large Production

SP = Small Production

S = Sales and Service

Algeria

HOERBIGER Service Algerie E.U.R.L.

13, Rue Mohamed Semani

16035 Hydra Algiers

Argentina

HOERBIGER de Argentina S.A.

Calle Goya 175, Complejo Eslovenia

Q8302BWK Neuquén


Reconquista 2458 – El Talar

B1618BDX Buenos Aires

Australia

HOERBIGER Australia Pty Ltd.

17 – 19 David Street

VIC3175 Dandenong, Victoria

HOERBIGER Australia Pty Ltd.

Unit 4 – 5, 17 Alexandra Place

QLD4172 Murarrie, Queensland

Austria

HOERBIGER Ventilwerke GmbH & Co KG

Braunhubergasse 23

1110 Vienna

HOERBIGER Ventilwerke Beteiligungs GmbH

Braunhubergasse 23

1110 Vienna

HOERBIGER Wien Immo GmbH

Braunhubergasse 23

1110 Vienna

HOERBIGER Deutschland Holding GmbH

Zweigniederlassung Wien

Guglgasse 15 – 17, Bauteil 3a,

6. Stock

1110 Vienna

HOERBIGER Kompressortechnik

Holding GmbH

TechGate Tower, Donau-City-Straße 1

1220 Vienna

Bolivia


Filial Bolivia Av Beni 250 entre 4 y 5 anillo

10260 Santa Cruz de la Sierra

Brasil

TURBOTECH Engenharia, LTDA.

Travessa São Judas Tadeu,

189, Recreio Ipitanga

CEP42.700-000 Lauro de Freitas, Bahia

HOERBIGER TURBOTECH

Serviços de Engenharia Ltda.

Rua Osasco, 1020 Rod. Anhanguera, Km 33

CEP 07753-040 Sao Paulo, Cajamar

Bulgaria

HOERBIGER Zandov s.r.o. –

representative office

zh.k. Hristo Smirnenski, bl. 27A,

vh. B, ap. 20

Sofia

Canada

HOERBIGER Canada Ltd.

Bay 7, 2616 – 16th Street N.E.

T2E7J8 Calgary, Alberta


400 Matheson Boulevard East, Unit 32

L4Z1N8 Mississauga, Ontario


9304 – 111th Street

V1J7J5 Fort St. John, British Columbia


10841– 78th Avenue

T8W2L2 Grande Prairie, Alberta


441 South Avenue

T7X3A7 Spruce Grove, Alberta


53119 Highway 47

T7E3E9 Edson,Alberta

HOERBIGER FineStamping Inc.

555 Parkside Drive

N2L5E7 Waterloo, Ontario

Chile

HOERBIGER DE CHILE S.A.

El Roble 748

Recoleta, Santiago de Chile

China

HOERBIGER (Shanghai) Co., Ltd.

39 He Fa Road, Caohejing Hi-Tech Park

200233 Shanghai

HOERBIGER Valves (Changzhou) Co., Ltd.

1A–1C Building, GDH Industrial Park 16#

Chuang Ye Road, Xinbei District

213033 Changzhou, Jiangsu

HOERBIGER (Wuxi) Automation

Technology Co., Ltd.

Science & Technology Business Incubator

Anzhen Xidong Park, Xishan EDZ

214105 Wuxi

HOERBIGER Drive Technology

(Changzhou) Co. Ltd.

Building No. 7, GDH Industrial Park,

16 Chuangye Rd., Xinbei District

213000 Changzhou, Jiangsu

Colombia

HOERBIGER de Colombia LTDA.

Carrera 85D # 46A 65 Bodega 19 Complejo

Logistico San Cayetano Bogotá

Czech Republic

HOERBIGER Žandov s.r.o.

Nádrazni 10

47107 Žandov

HOERBIGER Žandov s.r.o. –

Service Sokolovská 2408 / 222

190 00 Praha 9

Ecuador

HOERBIGER del Ecuador, S.A.

Calle de Los Arupos E1-203

Uniparque Bodega #4

170150 Quito

Egypt

HOERBIGER Service Egypt, LLC

20 El Sad El Aly St

Maadi, Cairo

France

HOERBIGER France SAS

140 Rue de 12ème Régiment de Zouaves Z.I. de

Courtine Mourre Frais

84091 Avignon Cedex

HOERBIGER France SAS

Parc d’Activité de la Route des Lacs

B.P. 220

27102 Val de Reuil

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IEP Technologies France

26/36 Rue Alfred Nobel

93600 Aulnay Sous Bois

Germany

HOERBIGER Immobilien GmbH

Im Forchet 5

86956 Schongau


Im Forchet 5

86956 Schongau


Learning Center Europe

Pürschlingstraße 4

86971 Peiting

HOERBIGER Kompressortechnik GmbH

Im Forchet 5

86956 Schongau

HOERBIGER Automatisierungs technik

Holding GmbH

TechGate Stuttgart

Meitnerstraße 8

70563 Stuttgart

HOERBIGER Service GmbH

Hanns-Hörbiger-Straße 10

67133 Maxdorf


An der Reitbahn 1

21218 Seevetal

HOERBIGER Automatisierungstechnik

Holding GmbH

Südliche Römerstraße 15

86972 Altenstadt

HOERBIGER Automatisierungstechnik GmbH

Südliche Römerstraße 15

86972 Altenstadt

HOERBIGER Micro Fluid GmbH

Borsigstraße 11

93092 Barbing

HOERBIGER Elektronik GmbH

Justinus-Kerner-Straße 7

72119 Ammerbuch

HOERBIGER Antriebstechnik

Holding GmbH

Bernbeurener Straße 13

86956 Schongau

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128 HOERBIGER Antriebstechnik GmbH

Werk 1

Bernbeurener Straße 13

86956 Schongau

HOERBIGER Antriebstechnik GmbH

Werk 2

Martina-Hörbiger-Straße 5

86956 Schongau

HOERBIGER Antriebstechnik

Holding GmbH Versuch / Prüffeld entwicklung

Pürschlingstraße 4a

86971 Peiting

HOERBIGER SynchronTechnik GmbH & Co. KG

Lembacher Straße 2

71720 Oberstenfeld

HOERBIGER Penzberg GmbH

Seeshaupter Straße 33

82377 Penzberg

HOERBIGER Automotive

Komfort systeme GmbH

Martina-Hörbiger-Straße 5

86956 Schongau

IEP Technologies GmbH

Kaiserswerther Straße 85c

40878 Ratingen

Great Britain

HOERBIGER UK Ltd.

Edderthorpe Street, P.O. Box 237

Bradford BD3 9RB

IEP Technologies Ltd.

Unit 1, Neptune Business Centre,

Tewkesbury Road

GL51 9FB Cheltenham

Newson Gale Ltd.

Omega House, Private Road 8

NG4 2JX Colwick, Nottingham

Hungary

HOERBIGER Service Hungaria

Kft. Bagoly u. 7.

2120 Dunakeszi

India

HOERBIGER India Private Ltd.

3rd Floor, Saffire Park, Galleria No. 4

Old Pune-Mumbai Road, Shivajinagar

411005 Pune


(Domestic Division)

Gat 301/1, 312, 313, Village Kondhapuri,

Tal: Shirur

411006 Pune

HOERBIGER India Serial Technology Pvt. Ltd.

Gat 301/1, 312, 313,

Village Kondhapuri, Tal: Shirur

412209 Pune

HOERBIGER India Pvt. Ltd.

504/B Fifth Floor OZONE,

Sarabhai Compound,

Vikram Sarabhai Marg,

39003 Vadodara


71/25 Stonedge Towers, 1st Avenue

1st Floor, Ashoknagar

600083 Chennai


153A Dimond Harbour Road,

South 24, Parganas

700034 Kolkata


102, Ansasls Majestic Tower,

Plot No-17, Block G1, Community Centre,

Vikas Puri

110018 New Delhi


Kompression Technology

Technical Services 3rd Floor,

Saffire Park, Galleria No. 4

Old Pune-Mumbai Road,

Shivajinagar

411005 Pune

Gala Precision Technology Pvt. Ltd.

Plot No. 295, Village Vadavali

Bhiwandi-Wada Highway At Post Met. Taluka

Wada, Masurne Road

421312 Thane

HOERBIGER India Serial Technology Pvt. Ltd.

Ramshree Apartment 1206 / 30A, 3rd floor,

Opp Sambhaji Park Smt Ramabai Shrinivas

Kawale Path, Jangali Maharaj Road

411004 Pune

Indonesia

PT. HOERBIGER Kompresotama Indonesia Jl.

Jababeka II J Blok CC No. 28 Kawasan Industri

Jababeka Pasir Gombong,

Cikarang Utara

17834 Bekasi, West Jawa

Iran

HOERBIGER Pars

No 25, 23rd Fathh, Fathh Highway

1387644781 Teheran

HOERBIGER Kish (KFZ)

Unit 3 Office Floor, Paniz

International Bazar

Kish Island

Italy

HOERBIGER Italiana S.p.A.

Via dell’Elettronica, 8

37139 Verona

Japan

HOERBIGER Nippon KK

87 – 4 Honjo

2860114 Narita

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HOERBIGER Nippon KK

Service Center

129 – 1 Houma-Kanahori-Mae,

Shibayama, Sanbu-gun

2861622 Chiba

HOERBIGER Nippon KK

Kyushu Office

2-7-3-702 Maizuru,

Chuo-Ku

8100073 Fukuoka

HOERBIGER Nippon KK

Kansai Sales Office

Imon Kobe

Bldg. 95 Edo-Machi Chuo-ku

6500033 Kobe

HOERBIGER Nippon KK –

Narita Office

Sumitomo Seimei Narita

Bldg.,7F, 969 Hanazaki-cho

2860033 Narita


Chubu Sales Branch

Cnfoturu2F, 2-11-7 kubota

5100821 yokkaichi


Sapporo Sales Branch

6th Floor No. 37

Keiwa building 3 – 2, Kita2Jyou

Nishi2Choume, Chuo-ku

600002 Sapporo

Kazakhstan

HOERBIGER Service Kazakhstan LLP

48, Azattyk, office 502

Atyrau

Korea, South

HOERBIGER Korea Ltd.

Songpa-Gu Karak-dong 73-3

KR Tower Fl 8

138 Seoul

HOERBIGER Korea Ltd.

355-11 yeocheon-Dong 402

Nam-Gu, Ulsan

Kuwait

HOERBIGER Service Middle East FZE Kuwait

Office

PO Box 26212

Safat 13123 Kuwait

Libya

HOERBIGER Services Libya

Motamar Al Karama Ghote Al Chaal,

Near Al Raai Mosque

PO Box 12435 Tripoli

Lithuania

UAB HOERBIGER VIENyBE

Kaunostr. 120.

20115 Ukmerge

Malaysia

HOERBIGER KT Malaysia Sdn Bhd.

PT 15675 & 15676 Kawasan

Perindustrian Jakar III

24000 Kemaman Terengganu

Mexico

HOERBIGER de México, S.A. de C.V.

Calz. de la Naranja 166

Fracc. Ind. Alce Blanco

53370 Naucalpan, Estado de México


Calle Fidencio Trejo #324

88770 Col. El Maestro, Reynosa, Tamaulipas


Plaza Mural Local 11-B Planta Alta

Prolongacion 27 de Febrero No. 2991

2000 Tabasco, Villahermosa Tabasco

Netherlands

HOERBIGER Benelux B.V.

Nijverheidsweg 25

6422 Heerlen

Nigeria

HOERBIGER Nigeria

AOS Orwell, Plot 272,

Trans Amadi, Industrial Layout

PMB 029 Port Harcourt

Norway

HOERBIGER Skandinavia Holding AS

Glynitveien 7, Ski Logistikkpark.

1400 Ski

Peru

HOERBIGER de Argentina, S.A.

Sucursal Perú Calle Boulevard 162,

Oficina 301, Santiago de Surco, Lima

15000 Lima, Perú

HOERBIGER de Argentina, S.A.

Sucursal Perú Manzana A Zona

Industrial Talara Alta-Pariñas

20811 Talara, Piura, Perú

Poland

HOERBIGER Polska Sp. z o.o.

ul. Stawki 2

00193 Warszawa

HOERBIGER Automotive Sp. z o.o.

ul. Modłowa 10

59700 Boleslawiec

Romania

S.C. HOERBIGER SERVICE

ROMANIA S.R.L.

Str. Budvar Nr. 31/A

535600 Odorheiul Secuiesc

Russian Federation

HOERBIGER LTD.

Nastavnichesky Lane 17

building 1, entrance 24

105120 Moscow

Saudi Arabia

HOERBIGER Service Middle East FZE

Industrial Machinery Establishment

P.O. Box 36079

31961 Jubail Industrial City

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Singapore

HOERBIGER KT Asia Holding Pte. Ltd.

7 Temasek Boulevard #21- 05

Suntec Tower One, Singapore 038987

629097 Singapore

HOERBIGER KT Asia Services Pte.Ltd.

77 Joo Koon Circle

629097 Singapore

Slovakia

HOERBIGER ŽANDOV s.r.o.

organizačná zložka Cementárská 15

90031 Stupava

South Africa

HOERBIGER S.A. (Pty.) Ltd.

9, Fuchs Street

1450 Alrode

Spain

HOERBIGER Iberica S.A.

Calle Río Ter 2 Polígono Industrial

El Nogal

28110 Algete

HOERBIGER Iberica S.A.

Calle Río Ter 2 Polígono Industrial

El Nogal

28110 Algete

Sweden

HOERBIGER Control Systems AB

Förradsgatan 5

66222 Amål

HOERBIGER Service Nordic AB

Garvansväg 9

77136 Ludvika

Switzerland


Baarerstrasse 18

6304 Zug

INTERHOERBIGER Finanz AG

Baarerstrasse 18

6304 Zug


Gewerbestrasse 115

5314 Kleindöttingen

IEP Technologies GmbH

Roetzmattweg 105

4603 Olten

Taiwan

HOERBIGER Taiwan Ltd.

4F, 58, Lane 316, Rueiguang Road,

Neihu District, Taipei 11492

111 Taipei

HOERBIGER Taiwan Ltd.

12-2 Zhong Her Road,

Hai Feng Village

63859 Mai Liao District

yun Lin County

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Thailand

HOERBIGER (Thailand) Co., LTD.

304 Sirithhorn Road,

Kwaeng Bangplad

10700 Khet Bangphad, Bangkok

HOERBIGER (Thailand) Co., Ltd.

136/72 Moo 9 Laemthong Road Tambol

Tungsukla, Amphar Sriracha

20230 Chonburi

Turkey

HOERBIGER Kompresyon Teknolojileri

San. ve Tic. Ltd. Şti.

Dudullu O.S.B. DES 114. Sk. C-8

Blok No: 7– 9.

34776 Ümraniye, Istanbul

IEP Technologies Turkey

Sehit Fethi Bey Cad. No. 41,

Kat 3, Daire 302

35 210 Konak, Izmir

Ukraine

HOERBIGER Service Ukraine, LLC

Eurasia Business Centre,

75 Zhylyanska St., 11th Floor

1032 Kiev

United Arab Emirates

HOERBIGER Service Middle East FZE

Jebel Ali Free Zone, P.O. Box 17153

Road 626

Dubai

United States

HOERBIGER Service Latin America, Inc.

1358 West Newport Center Drive

33442 Deerfield Beach, Florida

HOERBIGER Corporation of America Inc.

3350 Gateway Drive

330694864 Pompano Beach, Florida

HOERBIGER Engine Solutions Altronic, LLC

712 Trumbull Avenue

44420 Girard, Ohio

HOERBIGER Corporation of America Inc.

1212 Milby Street

77023 Houston, Texas

HOERBIGER Service Inc.

7042 South Revere Parkway,

Suite 400

80112 Centennial, Colorado


6640 Exchequer Dr.

70809 Baton Rouge, Louisiana


923 Foster Road

82601 Casper, Wyoming


8448 North Sam Houston Parkway West

77064 Houston, Texas


220 N Country Estates Road

67901 Liberal, Kansas


12700 West Highway 80 East

79765 Odessa, Texas


2828 South Utah Ave

73108 Oklahoma City, Oklahoma

HOERBIGER Service, Inc.

17250 New Lenox Road, Suite 2

60433 Joliet, Illinois


25057 Anza Drive

91355 Santa Clarita, California


12204 Fairmont Parkway

77572 La Porte, Texas

HOERBIGER Automotive Comfort

Systems, LLC

284 Enterprise Drive

36830 Auburn, Alabama

HOERBIGER America Holding, Inc. –

Corporate IT

1191 East Newport Center Drive


IEP Technologies, LLC

417-1 South Street

01752 Marlborough, Massachusetts

Newson Gale Inc.

460 Faraday Avenue, Bldg C

8527 Jackson, New Jersey

HOERBIGER America Holding, Inc.

1358 West Newport Center Drive


HOERBIGER Engine Solutions Altronic, LLC

2350 Crist Road

75040 Garland, Texas

Venezuela

HOERBIGER de Venezuela, S.A.

Avenida Principal de la Urbanización

Los Cortijos de Lourdes PH4-A,

Centro Empresarial Bravosol

1010A Caracas

HOERBIGER de Venezuela, S.A.

Avenida Intercomunal entre Tigre-Tigrito

6050 El Tigre, Estado Anzoátegui

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PublisherHOERBIGER Holding AGBaarerstrasse 186304 Zug, SwitzerlandPhone: +41 (0) 41 560 10 00Telefax: +41 (0) 41 560 10 11E-Mail: [email protected]

ResponsibleBoard of DirectorsDr. Marcus Flubacher (President)Executive BoardDr. Martin Komischke (CEO and Chairman)

Project managementCorporate CommunicationsLudwig Schönefeld

TextsGroup and Strategic Business UnitsLudwig SchönefeldPeople Stories Sophie Blasberg, Simon SchmidHighlightsSimon Schmid

Visual concept and designJäger & Jäger, Überlingen, Deutschland

PhotographyPortraitsManfred KlimekProduct photosNikolaus Schäffler, Marcel BillaudetHighlightsHans-Helmut Herold, Marcel Billaudet,HOERBIGER ArchiveBoard of TrusteesLudwig Rusch

Proof-reading of German editionDörte Fuchs/Jutta Orth, Freiburg, Germany

Translations of English editionKerstin RolandMaintal Translations, Inc., Virginia Beach, VA, USA

Proof-reading of English editionCharles Butcherthiswritingbusiness, Stanhoe, Norfolk, United Kingdom

PrintDruck-Ring GmbH & Co. KG, Munich, Germany

Time of printingJune 1, 2016

AG15IM016AE201604

HOERBIGER YEARBOOK 2015/2016

hoerbiger yearbook 2015/2016 proven. the … · „performance counts. this is the performance...

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