September 18, 2014 6:38 AM ET

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Company Overview of Loewe AG

Company Overview

Loewe AG develops, produces, and distributes electronic, electrotechnical, and mechanical products and systems, and related parts in the field of consumer electronics and communication technology. It primarily offers television sets, home cinema solutions, blu-ray players, DVD players/recorders, audiodesign products, audio components, multiroom solutions, and other products in the home entertainment market. The company sells its products in Germany, rest of the Europe, and internationally. Loewe AG was founded in 1923 and is headquartered in Kronach, Germany.

Industriestrasse 11

Kronach,  96317

Germany

Founded in 1923

682 Employees

Phone:

49 9261 990

Fax:

49 9261 99994

Key Executives for Loewe AG

Chief Financial Officer
Total Annual Compensation: $31.4K
Chief Technology Officer
Total Annual Compensation: $537.7K
Chief Marketing & Sales Officer
Age: 50
Compensation as of Fiscal Year 2012.

Loewe AG Key Developments

Loewe AG Announces Board Changes

Matthias Harsch, Chairman of the Executive Board of Loewe AG, agreed with the Supervisory Board in best mutual consent on his resignation from the Executive Board of the company with immediate effect. At the same time the Supervisory Board of Loewe AG appointed Alfred Hagebusch as new member of the Executive Board of Loewe AG with immediate effect. Prior to this Mr. Hagebusch served as Chief Representative of the company.

Loewe AG Provides Earnings Guidance for the Full Year of 2014

Loewe AG provided earnings guidance for the full year of 2014. For the year, the company expects to swing back to profit in 2014, only a year after the ailing company filed for insolvency. In five years the company should raise its revenue to about EUR 400 million from below EUR 100 million expected in 2014.

Loewe Seeks Investor

Loewe AG (DB:LOEK) filed for insolvency and needs to find an investor before the end of 2013 to avert closure, Matthias Harsch, Chief Executive Officer of Loewe, said. Loewe expects to reach an agreement with an investor by the end of October 2013. "We have six bids from investors from which we will choose in the next four weeks," Harsch said.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 21, 2014
Loewe AG, Substantially All Assets
Merger/Acquisition
January 16, 2014
Loewe AG, Major Assets
 

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