Our legal structure has not changed compared to the previous year. 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 55 companies belonging to the WACKER Group. Our financial statements include 50 companies that have been fully consolidated and four accounted for using the equity method. As of July 1, 2012, one small company is no longer recognized using the equity method, but as an investment as per IAS 39, since WACKER no longer exercises significant influence. One small company that is not part of our core operations has not been consolidated.
Five Operating Divisions
WACKER is based on a matrix organization with clearly defined functions. The Group has five business divisions, which have global responsibility for their own products, manufacturing facilities, markets, customers and results. Regional organizations are responsible for all business in their countries. WACKER’s corporate departments primarily provide services for the whole Group, although some also have production-related functions.
Group Structure in Terms of Managerial Responsibility