Our legal structure has not changed compared with 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 56 companies belonging to the WACKER Group. The consolidated financial statements cover 52 fully consolidated companies, and three accounted for using the equity method. One small company that is not part of our core operations has not been consolidated. You will find more information on changes in the scope of consolidation and the resulting effects in the Notes to the consolidated financial statements in the Acquisitions and Majority Takeovers in Fiscal 2014 chapter.

Five Operating Divisions

WACKER is based on a matrix organization with clearly defined functions. The Group has 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.