The wealth pocketed U.S. $ 5.2 billion, Reinhold Wurth has been named by Forbes magazine as number 93 richest people in the world this year. The same magazine placed in the top 10 in the list of richest people in Germany. But who ever thought, companies that make Wurth became very wealthy it was originally just a distributor of screws. He continued the business which pioneered the father when he was 19 years .Reinhold Wurth was born in Ohringen, Germany, April 20, 1935. He grew in his country during the second world war. Wurth was only 10 years old when his country surrendered to the Allies and had to rebuild the economy from scratch.
His father, Adolf Wurth, a retail merchant screws, nuts, bolts and locking devices. Before the war began raging in mainland Europe, has been selling senior Wurth building needs for nearly 20 years.
Post-war, Wurth senior trade back screws and other fasteners. In contrast to earlier, he had now become a wholesaler. He also moved to Kunzelsau, Hohenlohe, northern Germany. In the little village, in 1945, he founded the Adolf Wurth GmbH & Co.KG.The company is growing rapidly. German government's efforts to rebuild war-torn country, the demand for components such melonjakkan screws, bolts or nuts. In the 1950's, who lived Wurth old business is one of the many businesses that are emerging in Germany.
Wurth began an internship at his father's company when he was 14 years old. In 1952, at the age of 17, he completed training as a seller of wholesale and pass the exam which was held the council chamber of commerce and industry of Germany.
After obtaining a license to conduct trade, both retail and wholesale, young Wurth a sales agent at his father's company. When I first started to build his career as a power marketer, a major disaster befall his family. In 1954, his father died of a heart attack. This is a difficult period of his life. He lost the head of the family as well as his boss, when the company is developing.
After the death of his father, Wurth junior, who was only 19 years old, took over the leadership of Adolf Wurth GmbH & Co.KG. In the first six months of his leadership, he still retains the core business, ie selling screws, while looking for new business opportunities. But the next semester, the young teenage years until it developed a distribution network outside Kunzeslau.
Wurth junior seeks escape from the shadow of his father. Long a conservative management style he left behind. He applied the new leadership that is more dynamic and agile opportunities. He also encouraged his men to dare to make the breakthrough and make decisions.
In 1955, one year after the death of its founder, Adolf Wurth GmbH & Co.KG successfully posted sales of DM 176 000. In comparison, during Wurth senior leadership role, the highest corporate income only DM 170,000. Since then, Wurth target company achieved double-digit growth per year.
Success in the first year of leadership, make Wurth aggressive in expanding. Within five years he has built 80 branches throughout the territory of West Germany.
He established a network to compensate for the German government steps that are keen to build the country. Wurth products are distributed increases. He not only sells screws, but also a variety of machine tools.
Wurth next big step is to expand outside Germany. In 1962 he founded Wurth Nederland BV, the Netherlands. After that, it expanded its business to Italy, Switzerland, Austria, and Belgium. In 1969, Wurth expanding into the United States.
Expansion and acquisition strategy
Expansion and acquisition becomes the key to success Reinhold Wurth said. Through two corporate actions that he juggle his business become big in no time. Early controlled by Wurth, income Adolf Wurth GmbH & Co.KGbaru DM 170,000.
After 15 years of managed Wurth, his income skyrocketed to DM 53 million. When Wurth resigned, the company's sales have already reached € 2.2 billion, with hundreds of branch offices around the world.
In 1969, Reinhold Wurth penetrated the United States (U.S.). In a country which is a key product of the largest market in the world at that time, founded a company called The Wurth Wurth Screw and Fastener Corporation.
Subsidiary based in Monsey, New York, was originally only serving customers in New York, Connecticut, New Jersey, and Massachusetts. But within months, the area is now reaching its distribution throughout the U.S. East Coast.Lapse one year after testing the U.S. market, Wurth targeting new markets: Africa. In the Dark Continent it Wurth build marketing center in North Africa.
Entering 1970, at the age of 35, Wurth Group's annual sales had reached DM 53 million. It means control of the company for 15 years, managed to conjure up a small company Wurth legacy of his parents, the highest annual turnover of DM 170 000, a giant world.
At the end of the 1970s has penetrated the Wurth group sales of DM 330 million. Early 1980, after having octopus business in various parts of the world, Wurth announces DM 1 billion revenue target.
He managed to achieve that target in 1985 with record sales of DM 1.3 billion. The target was reached just as the company's 40th birthday, and Wurth itself celebrates birthday-50.
In 1987, to welcome the year 1990, Wurth set a new vision. In enlarging his business, he chose the pattern of acquisition. Expansion still he did, but not the primary focus. Inorganic strategies, according to Wurth, enabling the company grow faster.
Although launched a large-scale acquisitions from 1990, Wurth has held true since a few years earlier acquisitions. In 1986, for example, he bought Winzer Industrial, manufacturing companies in the UK. In 1987, Wurt buying companies in Japan, and opened new branches in Malaysia.
Two years later, Wurth buy Sartorius, in Dusseldorf Germany. At the beginning of 1990, Wurth acquired Monks and Crane, the world's leading distributor of machine time.
The acquisition is a key growth business empire Wurth. He for example purchase of L & C Arnold, a furniture factory that stood since 1898, in 1994. He also acquired Mepla-Werka, specialists in the field of furniture furniture in 1997.
In 1994, the age of 59 years, Wurth resigned from a variety of managerial affairs. "I do not want to destroy what I get up just because of the obduracy of parents," said Wurth explain the reasons for his resignation.
Wurth then held the position as Chairman of the Advisory Board of the company. Wurth was the company's sales had jumped by up to EUR 2.2 billion. Wurth's resignation did not dampen the pace of expansion. In 1996, the company began making a new strategy in the U.S.. In that year, acquired Revcar Wurth Fasteners, Virginia. This purchase is a signal Wurth to dominate the market in the U.S..
After buying Revcar, acquired Eastern Wurth Fastener Corporation, distributor of ship equipment. Wurth also acquired Baer Supply Company, distributor of tooling and furniture as well as five key tools the company again. The specialty is the acquisition of a la Wurth willingness to maintain the old management. He encourages employees to maintain the corporate culture. After acquiring nearly 100 firms, Wurth Group recorded a revenue of € 5 billion. Connoisseurs of art objects
Reinhold Wurth the journey of life can not be separated from social and cultural arts. Conglomerate is a connoisseur of art objects and always devote time to develop the culture since the age of 25 years.
He was also active in the social and sponsor various activities. Public bestowed on him many awards. However, he remains human. In old age, he did many things that it was a cause of public scorn.
Reinhold Wurth interest in art began in 1960, when he bought the watercolor works of Emil Nolde, German expressionist painter early 20th century. His first collection was a turning point Wurth life. Father of three children to be aggressive hunters artwork.
Wurth has collected 12,000 works of art. He collects a lot of painting and sculpture works of various artists such as Edvard Munch, Pablo Picasso, Alfred Hrdlicka, Markus Lupertz and Christo.
At the end of 1991, simultaneously with the inauguration of the headquarters of the new Wurth Group, Committee on Arts and Culture German Wurth-owned art collections showcased in the museum is right in the back office Wurth.
In the field of social and cultural, Wurth has always found time to sponsor almost every activity. In 1987, with his wife, Carmen, he founded the Charitable Foundation Wurth.
Public appreciation of the Wurth looks of numerous awards and membership in prestigious institutions. He became a member of various advisory bodies and the supervisory board of many clubs and associations.
He sat as chairman of the Gesellschaft zur Förderung des Landesmuseums Württemberg eV, the German association for the promotion of the National Museum of Württemberg. From 1999 until the end of the summer semester of 2003, Wurth became Head of the Interdisciplinary Institute for Entrepreneurship at the University of Karlsruhe. There, he taught on the basics of entrepreneurship.
Wurth, who left school at age 14, received his PhD from the University of Tübingen Kehomatan. Father of Marion, Bettina and Mark, also awarded the Distinguished Service Cross of the Federal Republic of Germany and the Medal of Merit from the state of Baden-Württemberg. In 1997, he was appointed as an honorary citizen of the city Erstein, France.
On 27 April 2004, Ludwig Erhard Foundation in the city of Bonn to confer the Medal of Ludwig Erhard Wurth services in economic and social growth.
At the ceremony, Martin Gruner, Treasurer of the Foundation, praised the achievements Wurth as Germany's economic miracle after the Second World War. "He changed a small screw into the corporate enterprise, multi-billions of euros per year," she says.
A month before the conferring of Ludwig Erhard, Wurth was appointed as the Knights of the Legion of Honor. In June the same year, Wurth Group was awarded the German Founders Prize. Gift of the prestigious honor is given annually to companies that successfully face the challenges of the times.
Wurth, with all his achievements, yet not a perfect human being. He was not always sensitive to things that are sensitive. Spiegel magazine said, because the global economic crisis, since 1 April 2009 Wurth has ordered 1250 from 5,000 employees to reduce working hours.
Reduction of working time was followed by cutting salaries by 15%. While other workers who were forced to cut salaries by 5% as a form of solidarity.
While at the same time, Wurth celebrate the naming of Vibrant Curiosity for new ships. Ships ordered since 2007 it cost U.S. $ 100 million.
His father, Adolf Wurth, a retail merchant screws, nuts, bolts and locking devices. Before the war began raging in mainland Europe, has been selling senior Wurth building needs for nearly 20 years.
Post-war, Wurth senior trade back screws and other fasteners. In contrast to earlier, he had now become a wholesaler. He also moved to Kunzelsau, Hohenlohe, northern Germany. In the little village, in 1945, he founded the Adolf Wurth GmbH & Co.KG.The company is growing rapidly. German government's efforts to rebuild war-torn country, the demand for components such melonjakkan screws, bolts or nuts. In the 1950's, who lived Wurth old business is one of the many businesses that are emerging in Germany.
Wurth began an internship at his father's company when he was 14 years old. In 1952, at the age of 17, he completed training as a seller of wholesale and pass the exam which was held the council chamber of commerce and industry of Germany.
After obtaining a license to conduct trade, both retail and wholesale, young Wurth a sales agent at his father's company. When I first started to build his career as a power marketer, a major disaster befall his family. In 1954, his father died of a heart attack. This is a difficult period of his life. He lost the head of the family as well as his boss, when the company is developing.
After the death of his father, Wurth junior, who was only 19 years old, took over the leadership of Adolf Wurth GmbH & Co.KG. In the first six months of his leadership, he still retains the core business, ie selling screws, while looking for new business opportunities. But the next semester, the young teenage years until it developed a distribution network outside Kunzeslau.
Wurth junior seeks escape from the shadow of his father. Long a conservative management style he left behind. He applied the new leadership that is more dynamic and agile opportunities. He also encouraged his men to dare to make the breakthrough and make decisions.
In 1955, one year after the death of its founder, Adolf Wurth GmbH & Co.KG successfully posted sales of DM 176 000. In comparison, during Wurth senior leadership role, the highest corporate income only DM 170,000. Since then, Wurth target company achieved double-digit growth per year.
Success in the first year of leadership, make Wurth aggressive in expanding. Within five years he has built 80 branches throughout the territory of West Germany.
He established a network to compensate for the German government steps that are keen to build the country. Wurth products are distributed increases. He not only sells screws, but also a variety of machine tools.
Wurth next big step is to expand outside Germany. In 1962 he founded Wurth Nederland BV, the Netherlands. After that, it expanded its business to Italy, Switzerland, Austria, and Belgium. In 1969, Wurth expanding into the United States.
Expansion and acquisition strategy
Expansion and acquisition becomes the key to success Reinhold Wurth said. Through two corporate actions that he juggle his business become big in no time. Early controlled by Wurth, income Adolf Wurth GmbH & Co.KGbaru DM 170,000.
After 15 years of managed Wurth, his income skyrocketed to DM 53 million. When Wurth resigned, the company's sales have already reached € 2.2 billion, with hundreds of branch offices around the world.
In 1969, Reinhold Wurth penetrated the United States (U.S.). In a country which is a key product of the largest market in the world at that time, founded a company called The Wurth Wurth Screw and Fastener Corporation.
Subsidiary based in Monsey, New York, was originally only serving customers in New York, Connecticut, New Jersey, and Massachusetts. But within months, the area is now reaching its distribution throughout the U.S. East Coast.Lapse one year after testing the U.S. market, Wurth targeting new markets: Africa. In the Dark Continent it Wurth build marketing center in North Africa.
Entering 1970, at the age of 35, Wurth Group's annual sales had reached DM 53 million. It means control of the company for 15 years, managed to conjure up a small company Wurth legacy of his parents, the highest annual turnover of DM 170 000, a giant world.
At the end of the 1970s has penetrated the Wurth group sales of DM 330 million. Early 1980, after having octopus business in various parts of the world, Wurth announces DM 1 billion revenue target.
He managed to achieve that target in 1985 with record sales of DM 1.3 billion. The target was reached just as the company's 40th birthday, and Wurth itself celebrates birthday-50.
In 1987, to welcome the year 1990, Wurth set a new vision. In enlarging his business, he chose the pattern of acquisition. Expansion still he did, but not the primary focus. Inorganic strategies, according to Wurth, enabling the company grow faster.
Although launched a large-scale acquisitions from 1990, Wurth has held true since a few years earlier acquisitions. In 1986, for example, he bought Winzer Industrial, manufacturing companies in the UK. In 1987, Wurt buying companies in Japan, and opened new branches in Malaysia.
Two years later, Wurth buy Sartorius, in Dusseldorf Germany. At the beginning of 1990, Wurth acquired Monks and Crane, the world's leading distributor of machine time.
The acquisition is a key growth business empire Wurth. He for example purchase of L & C Arnold, a furniture factory that stood since 1898, in 1994. He also acquired Mepla-Werka, specialists in the field of furniture furniture in 1997.
In 1994, the age of 59 years, Wurth resigned from a variety of managerial affairs. "I do not want to destroy what I get up just because of the obduracy of parents," said Wurth explain the reasons for his resignation.
Wurth then held the position as Chairman of the Advisory Board of the company. Wurth was the company's sales had jumped by up to EUR 2.2 billion. Wurth's resignation did not dampen the pace of expansion. In 1996, the company began making a new strategy in the U.S.. In that year, acquired Revcar Wurth Fasteners, Virginia. This purchase is a signal Wurth to dominate the market in the U.S..
After buying Revcar, acquired Eastern Wurth Fastener Corporation, distributor of ship equipment. Wurth also acquired Baer Supply Company, distributor of tooling and furniture as well as five key tools the company again. The specialty is the acquisition of a la Wurth willingness to maintain the old management. He encourages employees to maintain the corporate culture. After acquiring nearly 100 firms, Wurth Group recorded a revenue of € 5 billion. Connoisseurs of art objects
Reinhold Wurth the journey of life can not be separated from social and cultural arts. Conglomerate is a connoisseur of art objects and always devote time to develop the culture since the age of 25 years.
He was also active in the social and sponsor various activities. Public bestowed on him many awards. However, he remains human. In old age, he did many things that it was a cause of public scorn.
Reinhold Wurth interest in art began in 1960, when he bought the watercolor works of Emil Nolde, German expressionist painter early 20th century. His first collection was a turning point Wurth life. Father of three children to be aggressive hunters artwork.
Wurth has collected 12,000 works of art. He collects a lot of painting and sculpture works of various artists such as Edvard Munch, Pablo Picasso, Alfred Hrdlicka, Markus Lupertz and Christo.
At the end of 1991, simultaneously with the inauguration of the headquarters of the new Wurth Group, Committee on Arts and Culture German Wurth-owned art collections showcased in the museum is right in the back office Wurth.
In the field of social and cultural, Wurth has always found time to sponsor almost every activity. In 1987, with his wife, Carmen, he founded the Charitable Foundation Wurth.
Public appreciation of the Wurth looks of numerous awards and membership in prestigious institutions. He became a member of various advisory bodies and the supervisory board of many clubs and associations.
He sat as chairman of the Gesellschaft zur Förderung des Landesmuseums Württemberg eV, the German association for the promotion of the National Museum of Württemberg. From 1999 until the end of the summer semester of 2003, Wurth became Head of the Interdisciplinary Institute for Entrepreneurship at the University of Karlsruhe. There, he taught on the basics of entrepreneurship.
Wurth, who left school at age 14, received his PhD from the University of Tübingen Kehomatan. Father of Marion, Bettina and Mark, also awarded the Distinguished Service Cross of the Federal Republic of Germany and the Medal of Merit from the state of Baden-Württemberg. In 1997, he was appointed as an honorary citizen of the city Erstein, France.
On 27 April 2004, Ludwig Erhard Foundation in the city of Bonn to confer the Medal of Ludwig Erhard Wurth services in economic and social growth.
At the ceremony, Martin Gruner, Treasurer of the Foundation, praised the achievements Wurth as Germany's economic miracle after the Second World War. "He changed a small screw into the corporate enterprise, multi-billions of euros per year," she says.
A month before the conferring of Ludwig Erhard, Wurth was appointed as the Knights of the Legion of Honor. In June the same year, Wurth Group was awarded the German Founders Prize. Gift of the prestigious honor is given annually to companies that successfully face the challenges of the times.
Wurth, with all his achievements, yet not a perfect human being. He was not always sensitive to things that are sensitive. Spiegel magazine said, because the global economic crisis, since 1 April 2009 Wurth has ordered 1250 from 5,000 employees to reduce working hours.
Reduction of working time was followed by cutting salaries by 15%. While other workers who were forced to cut salaries by 5% as a form of solidarity.
While at the same time, Wurth celebrate the naming of Vibrant Curiosity for new ships. Ships ordered since 2007 it cost U.S. $ 100 million.
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