In the light of the above, the shareholders of Jowat AG have resolved to change the legal form of the company by converting to a European Stock Corporation (Societas Europaea, in short “SE”), which became effective with the registration of the SE in the Commercial Register on 1st March 2015. As foremost, supranational European legal form, the SE is recognized in all European countries and profits from a high level of recognition also outside of Europe.
“With the new legal form, Jowat is emphasizing the international market orientation and promotes an open and cross-border corporate culture as well as a uniform corporate image throughout Europe. At the same time, additional options are created to further promote the strategic development of the company“, states Klaus Kullmann, Managing Director on the Board for Sales and Marketing.
Jowat SE becomes the unrestricted universal successor of Jowat AG, accordingly assumes all legal rights and obligations, and will continue to operate under a dual system consisting of Board of Directors and Supervisory Board. Detmold will remain as registered office of Jowat SE.
“As a family enterprise, we highly value long-term commitments with our customers and suppliers“, states Ralf Nitschke, Managing Director for Production, Finances and Human Resources of Jowat SE. “In spite of the market dynamics, a sustainable entrepreneurship must draw on consistency, reliability and trust. The conversion will therefore not modify the character of the Jowat Group as a family enterprise and the corporate policy to any extent.“
Picture 1: Headquarter and manufacturing facilities of Jowat SE in Detmold
‘Conversion to a European Stock Corporation (SE) as the next milestone in the corporate development of Jowat SE’
Source: Jowat SE