In November 2005, WACKER became a stock corporation (AG) under German law. Headquartered in Munich, Wacker Chemie AG holds a direct or indirect stake in 51 companies belonging to the WACKER Group. The consolidated financial statements cover 49 fully consolidated companies. Three companies are 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. For more information about changes in the scope of consolidation and the resulting effects, please refer to the Scope of Consolidation section in the Notes to the Consolidated Financial Statements.
Four Business Divisions
WACKER is based on a matrix organization with clearly defined functions. Since March 15, 2017, the Group has had four business divisions. On selling 6.3 million shares of its stake in Siltronic AG, WACKER gave up its majority ownership of the company and, since then, has accounted for its stake using the equity method. As a result of the sale, Siltronic AG ceased being a business division of the WACKER Group. For further information on the deconsolidation of Siltronic AG, please refer to the Scope of Consolidation section in the Notes to the Consolidated Financial Statements.
Each business division has 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.