SolarWorld Group Gives Employees Share in Profits
15. Dezember 2006 | 08:28 Uhr
SolarWorld AG / Miscellaneous
source:
http://www.ad-hoc-news.de/CorporateNews/en/9866846/
Successful profit sharing program enters its fifth year. The employees of the SolarWorld Group will be able to feel the business success of the group in their own pockets for the fourth consecutive year in 2007. The reason for this is the successful Employee Profit Sharing Scheme (German abbreviation: GOMAB) introduced by the group for the employees in Freiberg in 2003. At the location of the holding company in Bonn employees have participated in the profits of the company since 2005. ‘With this model we are among the pioneers in Germany,’ says Dipl.-Ing. Frank H. Asbeck, Chairman and CEO of SolarWorld AG.
Bonus may reach 10 to 30 per cent of salary
Under the profit sharing scheme which goes into its fifth year in 2007 all permanently employed staff in Freiberg will receive a profit-dependent bonus on top of their salary. ‘If the group as well as the individual company in Freiberg operate as successfully as in the last few years employees can expect bonus payments of between 10 and 30 per cent of their annual salaries,’ explains Prof. Dr. Peter Woditsch, CEO of the wafer subsidiary Deutsche Solar AG and spiritual father of the profit sharing scheme. ‘Our target is to increase the motivation and identification of the individual with the companies and the objectives of the overall group.’
The bonus is fed to the tune of 50 per cent from the business success of the individual company for which the employee works, and the rest from that of the group. ‘With this we want to strengthen the solidarity of the individual with the success of the sister companies.’ One third of the bonus will be paid in March for the previous year. Two thirds remain in the company and will be invested for five years at attractive terms and conditions.
GOMAB is part of the in-house collective bargaining agreement of the Freiberg companies and replaces certain collective bargaining elements. So, the Freiberg employees of the SolarWorld Group have since the existence of the plan not only made more money than provided for by the pay scales in the East of Germany but also more than if they had been paid according to the pay scales in the West.
About SolarWorld AG: The SolarWorld AG Group (ISIN: DE00051080401) is among the three largest solar power companies in the world. The group is dedicated exclusively to the core business of solar energy, combining all stages of the solar value chain, from the raw material silicon to turn-key solar power plants. The company operates production facilities in Germany, Sweden and the USA. In the United States, SolarWorld AG is also the leading producer and provider of solar power technology. In addition, sales offices operate in Spain, South Africa and Singapore, completing the international alignment of the group