Corporate Group Values

We have created a mission statement for ourselves. The statement is based on a survey of over 90 % of all employees in 2012. Based on the results, the following text was compiled in a workgroup consisting of the Group's executives and its owners. As such, it is fair to say that the mission statement conforms to all persons concerned (employees, executives, owners and family) and that they practice it in their day-to-day work environment.

I Introduction

The family-owned and owner-operated Freiherren Waitz Group is today made up of mechanical engineering, real estate as well as agriculture and forestry divisions around the globe with a staff of 200 employees and with an annual revenue of approx. 35 million euros. Several of these divisions do business worldwide. This interim status of a development that has been ongoing for 250 years is the result of a sustainable business policy, involving the addition of new divisions during the course of history while eliminating others that had outlived their purpose.

The companies were managed and developed by the Group long-term. We focus our daily work on long-term prospects, including such that will benefit the family's next generations as well.

This will only succeed by continuously aiming to produce quality-driven and innovative results.

Important factors for success are reliability, cordiality and fairness in the manner in which we deal with one another.

II General goals and values of the family

  • Corporate success: Of primary importance is maintaining sustainable profitability. More than 80% of the profits are re-invested into the Group and are not absorbed. Sustainable wealth is created in the interest of the corporate Group and not to the benefit of any particular individual - this is in keeping with the continuation of a family tradition spanning several generations.
  • Responsibility: We create and maintain lasting employment opportunities. Of major importance to us is that our employees enjoy working for our company and are proud to be able to work in a company owned by the Waitz family.
  • Trust: Our company produces products and offers services of highest quality - much in the spirit of sustainable customer relationships.
  • Role model: With the activities of our family and our companies, we intend to be a positive influence on our respective environment. This includes personal dedication, acting responsibly, making conscious use of resources and authentic human interaction.
  • Interesting tasks: We operate our companies in industries with products and users that we like to identify ourselves with.

III Innovation and quality

  • Our opportunities in the market place revolve around knowing the needs of our customers, continuously uncovering new needs and, based on these needs and desires, offering and/or developing the latest state-of-the-art. Above all, our products and services must meet the challenge of helping our customers be successful. We want to inspire them.
  • We strive for "state-of-the-art" not only relating to our technology, engineering and materials, but also with regard to design, organization and services.
  • We keep learning.
  • Our innovative, high-quality products and our reliable service define brand names known throughout the industry that we mutually stand behind.
  • This applies to the same extent to both our technical products as well as to our leased real estate and our agricultural and forestry products.

IV Working relationships

  • It is our goal to ensure that our customers and our suppliers, and we ourselves, feel comfortable in our daily interactions. We base our working relationships on good community spirit, a mutual understanding for one another, good communication and a sense of humor and we reject personal vanity. This includes owning the mistakes that one makes and learning from them.
  • The management principles we consider to be most important are the ability to delegate and assume responsibility and also to encourage an atmosphere that is characterized by initiative, mutual trust, exemplary conduct, humility and team spirit. It is an executive's responsibility to ensure an environment in which employees are able to experience a maximum in personal development in keeping with the Group's objectives.
  • For us, an environment characterized by competition, freedom and development opportunities provides the stimulus needed for innovation, performance and continued improvement.

V Sustainability, reliability

  • Our economic activities do not focus primarily on maximizing revenue, but instead on long-term profitability. No "fast" deal is worth taking the inflated risks that might put the future of our enterprise, the Group or the environment, in which we do business, in jeopardy. 
  • We want our customers and suppliers to have confidence in us, our products and our brands. Critical for us is that our customers keep coming back to us and that we are always able to look our customers in the eye. Our objective is that our customers look forward to hearing from us.
  • As a reliable partner to our customers, our highest priority is to realize common goals on the basis of agreements and commitments we make together.
  • We avoid non-transparent complex relationships of any kind, any risk whatsoever to our financial good standing and any dependency on political obligations.