In November 2005, WACKER became a stock corporation (AG) under German law. Headquartered in Munich, Wacker Chemie AG held a direct or indirect stake in 59 companies belonging to the WACKER Group in 2016. The 2016 consolidated financial statements covered 56 fully consolidated companies. Two companies were accounted for using the equity method. Wacker Chemie AG and a number of its subsidiaries also have branch offices, but they are of only minor significance for the Group.
Five Operating Divisions
WACKER is based on a matrix organization with clearly defined functions. During the reporting period, the Group had five business divisions, each with global responsibility for its products, manufacturing facilities, markets, customers and results. Regional organizations are responsible for all business in their respective countries. WACKER’s corporate departments primarily provide services for the whole Group, although some also have production-related functions.
Siltronic AG shares started trading in the regulated market segment (Prime Standard) of the Frankfurt Stock Exchange on June 11, 2015. 12.65 million shares were placed. The total proceeds from the IPO amounted to nearly €380 million. Following this placement, WACKER remained the majority shareholder, with a 57.8-percent stake in Siltronic AG. Early in 2017, WACKER sold an initial 1.8 million shares from its stake in Siltronic AG on the stock exchange. Then, on March 15, it sold a further 6.3 million Siltronic shares in a bookbuilding offering to institutional investors. WACKER’s stake in Siltronic thus fell to 30.8 percent. This transaction enabled WACKER to achieve its goal of moving into a non-controlling position at Siltronic. Since March 15, 2017, WACKER’s stake in Siltronic has been accounted for using the equity method.
Group Structure in Terms of Managerial Responsibility