Phoenix Mecano

Phoenix Mecano
Company typeLtd.
SIX: PMN
ISINCH1261338102
Industryindustrial electronics
Founded1975
HeadquartersStein am Rhein (canton of Schaffhausen), Switzerland
Key people
Revenue€783.1 million (2023)[1]
Number of employees
7,000 (2023)[1]
Websitewww.phoenix-mecano.com

Phoenix Mecano AG is a Swiss technology company headquartered in Stein am Rhein, operating internationally in the fields of enclosure technology and industrial components. The company manufactures technical enclosures, electronic components, actuators, and system integrations. Phoenix Mecano employs around 7,000 people and generated sales of €783.1 million in 2023.[1] Founded in 1975, Phoenix Mecano has been listed on the SIX Swiss Exchange since 1988.[2]

History

Phoenix Mecano headquarters
Pick-to-light workstation
Aluminium enclosures

Foundation and IPO

The company was founded in 1975 under the name Phoenix Maschinentechnik AG and initially mainly produced and distributed technical gases for the welding industry. Through its work with gases, the company began to develop welding torches, which then became the main activity. In 1976, the company began developing enclosures for electronic devices. That same year, the company acquired its strongest competitor, Hartmann.[3][4]

In 1986, the company name was changed to Phoenix Mecano AG.[5]

The company went public in 1988.[6][7] At that time, Phoenix Mecano was primarily active in the manufacture of enclosure technology, mechanical, and electromechanical components.[4]

Expansion of business activities

In the years following its IPO, the company shifted focus to secondary products that were not considered strategic by developers, engineers, and mechanical designers. This positioned Phoenix Mecano as an outsourcing partner. The company also began serving markets outside mechanical engineering and industrial electronics.[5] The business expanded into lifestyle and furniture, medical technology, oil and gas, and solar technology. In 1996, Phoenix Mecano entered the Chinese market[8] and, in 1998, acquired a production facility in Tunisia.[9]

During the 2000s, acquisitions were made in Italy and France,[10] expanding the enclosure technology business segment.[11] In 2014, the company acquired Redur to expand the operations into instrument transformers and current transformers.[12]

Newer developments

On 1 January 2021, the DewertOkin Technology Group was established as a separate business division with a potential partial IPO in China considered.[8][13] As a result, Phoenix Mecano restructured its business segments into three divisions in 2021: Enclosure Systems, Industrial Components, and DewertOkin Technology Group.[13] In 2022, business activities were restructured with the sale of all shares in Phoenix Mecano Digital Elektronik GmbH and Phoenix Mecano Digital Tunisie to Swiss company Cicor.[14][15]

In 2023, Phoenix Mecano divested its Rugged Computing business unit to the Kontron Group.[16]

Also in 2023, after a five-year construction period, Phoenix Mecano opened a new industrial park in China on a 15-hectare site. This facility became the new headquarters for the DewertOkin Technology Group division, replacing five previous production sites. Phoenix Mecano invested nearly CHF100 million in the industrial park.[17][18]

Company structure

Phoenix Mecano AG, based in Stein am Rhein, is part of the Phoenix-Mecano Group. The Group generated sales of €783.1 million in the 2023 financial year.[1] Phoenix Mecano has been listed on the Swiss stock exchange since 1988. The founding family Goldkamp holds a 34.6% stake.[19]

The group operates internationally, with its primary production sites and development centres located in Germany, Hungary, Tunisia, India, and China.[20]

Products and field of activity

The Phoenix Mecano Group is divided into three divisions: Enclosure Systems, Industrial Components, and the DewertOkin Technology Group.[21] The Enclosure Systems division includes industrial and electronic enclosures that are used across various industrial sectors, with explosion-proof enclosures deployed in areas with explosive atmospheres.[22][20] The Industrial Components division offers components and systems for modular automation and industrial digitalisation, including software development for digitalisation of production processes.[20] The DewertOkin Technology Group, headquartered in Jiaxing, Zhejiang, China, manufactures drive, system, and fitting technology for electrically adjustable comfort and care furniture.[23][20] The company operates production facilities in Europe, North America, and Asia.[8][24]

Sustainability

Since 2022, Phoenix Mecano has published an annual sustainability report documenting the group’s initiatives. The group aims to fully eliminate CO2 emissions by 2050.[20]

References

  1. ^ a b c d "Annual Report 2023" (PDF). Phoenix Mecano. Retrieved 2024-10-18.
  2. ^ "Phoenix Mecano". SIX Group. 2024-10-28. Retrieved 2024-10-28.
  3. ^ de Bréguy, Georges (2001-01-31). "Phönix aus der Asche". Handelszeitung (in German). p. 47.
  4. ^ a b Baumann, Alice (2000-07-05). "Wir sind schlank und daher schnell". Handelszeitung (in German). p. 29.
  5. ^ a b "History". Phoenix Mecano AG. Retrieved 2024-10-28.
  6. ^ "Phoenix-Mecano an der Zuercher Boerse gehandelt". Handelszeitung (in German). 1988-12-07. p. 27.
  7. ^ "Phoenix-Mecano 1988 erfolgreich". Handelsblatt (in German). 1989-03-01. p. 20.
  8. ^ a b c "Phoenix Mecano plant Börsengang in Shanghai". Schaffhauser Nachrichten (in German). 2020-11-24.
  9. ^ Richenberger, H. (1998-05-14). "Beschleunigte Globalisierung von Phoenix Mecano. Elektrotechnische Komponenten als Wachstumsträger". Neue Zürcher Zeitung (in German). p. 29.
  10. ^ "Preiskrieg drückt Margen von Phoenix Mecano". Handelsblatt (in German). 2001-05-08. p. 17.
  11. ^ "Phoenix Mecano wird zum Telekom-Zulieferer". Handelsblatt (in German). 2000-08-08. p. 16.
  12. ^ "Phoenix Mecano kauft zu". Neue Zürcher Zeitung (in Swiss High German). 2014-06-25. ISSN 0376-6829. Retrieved 2024-10-28.
  13. ^ a b Thüler, Daniel (2021-04-22). "Phoenix Mecano ist gut ins 2021 gestartet". Schaffhauser Nachrichten (in German).
  14. ^ "Phoenix Mecano verkauft Anteile". Schaffhauser Nachrichten (in German). 2022-11-16.
  15. ^ "Cicor schliesst Kauf zweier Geschäftseinheiten von Phoenix Mecano ab". Finanz und Wirtschaft (in German). 2023-01-23. Retrieved 2024-10-28.
  16. ^ "Phoenix Mecano trennt sich von Geschäftseinheit Rugged Computing". Finanz und Wirtschaft (in German). 2023-08-28. Retrieved 2024-10-28.
  17. ^ "Phoenix Mecano eröffnet in China einen Industriepark". Schaffhauser Nachrichten (in German). 2023-11-17.
  18. ^ Serrar, Karim (2024-06-05). "Phoenix Mecano: Was kommt nach der Super-Dividende für 2023?". Schweizeraktien (in German). Retrieved 2024-10-28.
  19. ^ Müller, Giorgio V. (2021-08-11). "Phoenix Mecano im Aufwind". Neue Zürcher Zeitung (in German). p. 27.
  20. ^ a b c d e Serrar, Karim (2023-05-15). "Phoenix Mecano: Nachhaltige Transformation durch Mega-Trends". Schweizeraktien (in German). Retrieved 2024-10-28.
  21. ^ "Phoenix Mecano steigert Umsatz im 2023". Schaffhauser Nachrichten (in German). 2024-05-25.
  22. ^ "Ex Equipment von Rose". Rose Systemtechnik GmbH (in German). Retrieved 2024-10-28.
  23. ^ "Das Beispiel Phoenix Mecano – China wirbt am WEF um neue Investitionen aus dem Westen". Schweizer Radio und Fernsehen (in German). 2024-01-16. Retrieved 2024-10-28.
  24. ^ "Der Westen darf Peking nicht isolieren". Neue Zürcher Zeitung (in German). 2024-06-12. p. 17.