odelo Headquarters in Schwaikheim Change Landlords

08th December 2008

The odelo Group, a leading maker of tail lights and signal lights for the automotive industry, will be leasing the building and grounds at its Schwaikheim headquarters from a new landlord. Today the former owner of the plant site, Visiocorp Plc., located in Portchester, England, announced it had sold the property to Alfred Kärcher GmbH & Co. KG, an internationally leading maker of cleaning equipment, headquartered in Winnenden, Germany. odelo GmbH will still occupy the land and a portion of the buildings under long-term leases, and will continue to conduct the odelo Group’s management, technology and development operations from the Schwaikheim site.

“Visiocorp’s sale of the land and buildings to Kärcher ensures that odelo can still plan safely for the remainder of the current lease. We welcome the involvement of Kärcher, which is well known as one of the region’s leading businesses, and we look forward to a lease relationship of partnership and cooperation,” said Dr. Zeljko Matijevic, Managing Director of the odelo Group, in Schwaikheim on Friday. “Here we would also like to thank Schwaikheim Mayor Gerhard Häuser, whose active mediation brought the parties together and thus safeguarded odelo GmbH’s future as a tenant at the Schwaikheim site.”

As part of the restructuring program adopted in fall 2007, the odelo Group had decided to focus future operations at the Schwaikheim site on development, technology and startup production. It has invested heavily in technical equipment for that purpose at the Schwaikheim plant over the past few months. odelo GmbH’s technology center develops innovative tail lights and signal lights, from first concept to market readiness, and subsequently optimizes them for series production at the startup plant. Today odelo’s total of 1800 employees at six locations in Baden-Württemberg, North Rhine-Westphalia, and Slovenia produce innovative tail lights and signal lights for the premium automotive segment.

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