Formel D

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Formel D in step with the automotive industry.

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  • October 17th, 2017: Dinggui Gao assumes management of Formel D China

    Dinggui Gao assumes management of Formel D China

    The company continues to pursue growth in China

    Internationally experienced manager to expand market position of Formel D in China

    Troisdorf, 17 October 2017. Dinggui Gao assumes management of Formel D China with immediate effect. The appointment of the internationally experienced business manager underlines the aim of the global service provider for the automotive and supply industry to further strengthen its presence in the Chinese market.

    As Managing Director of Formel D China, the 53-year-old qualified mechanical engineer brings his comprehensive experience with globally active companies to Formel D. Dinggui Gao was previously active as president of Sandvik Construction in the Swedish company Sandvik AB, as vice-president of Sinotruk Ltd. with its company headquarters in Hong Kong and in various leading positions, among others, at Bosch, Honeywell and Eagle Ottawa. The experienced engineer will be responsible for expanding the business of the Group in the growth market China.

    “In the Asian region, China in particular still offers great potential for Formel D. With the newly created post, we realize an optimum framework for further growth there,” says Dr. Jürgen Laakmann, CEO at Formel D. “Dinggui Gao gives us the additional expertise required to further optimize our processes and structures in the Chinese market and expand our position. We are looking forward to working together.”

    „I am looking forward to advance the business in China together with the employees of Formel D,” says Dinggui Gao, Managing Director of Formel D China. „I am convinced that Formel D is excellently positioned to capture the opportunities in the dynamically growing market in China and to deliver the best solutions for our customers.”

    Future-oriented and close to the customer

    Formel D currently generates most of its sales in Europe. In China and the US in particular, the company sees opportunities for further growth. Over the past years, China has advanced to a core market for automotive manufacturers. With its extremely dynamic market, it constantly places new requirements also on service providers such as Formel D. Not least due to the commitment of Dinggui Gao, the Group is ideally positioned to develop solutions to current and future challenges in close cooperation with its customers and tap into new market potential.

    About Formel D

    Formel D is the global service provider to the automotive and component supply industry. The company develops concepts and scalable solutions for quality assurance and process optimization along the entire automotive value chain - from development to production through to aftersales. Headquartered in Troisdorf near Cologne, the company was founded in 1993 and has over 7,000 employees at 80 locations in 19 countries worldwide. Dr. Jürgen Laakmann, CEO, is the chairman of the company's executive board.

    Press contact

    Formel D Group
    Katharina Breuer, Public Relations
    T +49 2241 / 996 222 │ F +49 2241 / 996 8720
    pr@formeld.com | www.formeld.com

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    Download portrait of Dinggui Gao

  • September 11th, 2017: Formel D at the IAA Pkw 2017

    Formel D at the IAA Pkw 2017

    Comprehensive quality assurance portfolio and supplier symposium on the current challenges in the industry on 18 September

    Troisdorf, 11 September 2017 – Formel D will once again present itself as a global service provider in the automotive and supplier industry at this year's International Motor Show (IAA) in Frankfurt am Main, Germany, from 14 to 24 September. The service provider will be focusing on quality assurance and provide the general public as well as industry experts visiting Stand B04 in Hall 4.0 with insights into its comprehensive portfolio.

    "Future Now" is the motto of the 67th IAA. Renowned global automotive companies will be showcasing topics such as their concepts for connected and automated driving and new forms of mobility. In this spirit, Formel D will be answering questions on current challenges in the market and present proactive solutions for providing manufacturers and suppliers with support in the future at its stand. The Group will use a mix of traditional and interactive presentation elements, such as detailed miniature worlds, display cases, and visual displays to showcase its comprehensive service portfolio.

    Quality is in the detail

    Trade fair visitors to the Formel D stand will be given an overview of the Group’s competences with focus on quality assurance along the automotive value chain. Various miniature worlds specially created for the trade fair display selected Formel D concepts. The models provide an easy picture of the processes and implementation options and also show the flexibility of the corresponding concepts in terms of specific customer requirements. Additional video footage such as images and reference film clips of the Group as well as display cases on vehicle, parts, and service readiness complete the trade stand. The Formel D experts look forward to explaining individual projects in detail to visitors and engaging in lively discussions.

    Opportunities for exchanging experiences

    As in previous years, Formel D will once again be holding a supplier symposium at the IAA and also support the "GoIng" initiative of the German Association of the Automotive Industry (VDA) for actively promoting young talent by providing realistic insights into daily working life. Under the motto "Current Quality Management Challenges in the Automotive Industry", the Group will be discussing future trends at its symposium.

    About Formel D

    Formel D is a global service provider to the automotive and component supply industry. The company develops concepts and scalable solutions for quality assurance and process optimization along the entire automotive value chain – from development to production through to aftersales. Founded in 1993 and headquartered in Troisdorf near Cologne, the company has over 7,000 employees, and a global presence with 80 locations in 19 countries. Dr. Jürgen Laakmann, CEO, is the chairman of the Company's executive board.

    Press contact

    Formel D Group
    Katharina Breuer, Public Relations
    T +49 2241 / 996 222 │ F +49 2241 / 996 8720
    pr@formeld.com | www.formeld.com

    Download as PDF

  • July 31st, 2017: Formel D appoints Juergen Laakmann as CEO and sets the course for further growth

    Formel D appoints Juergen Laakmann as CEO and sets the course for further growth

    Troisdorf, July 31, 2017 -Formel D, a global service provider to the automotive and component supply industry, today announces the appointment of Juergen Laakmann as CEO. Over the past years, the company has grown at an average of 17 per cent per annum and has now reached global scale. In order to continue on delivering Formel D’s ambitious growth strategy, the company introduces a new, modern structure with one CEO leading the management team.

    In light of this structural change, Holger Jené, Member of the Management Board, and Claus Niedworok, CFO of Formel D, have decided to leave the company in mutual agreement. Until his departure, Claus Niedworok will ensure a smooth transition process together with Juergen Laakmann.

    With the new focused leadership structure headed by one CEO, Formel D has now set the course to accelerate the international growth of the company and achieve its full potential. Formel D offers its customers in the automotive industry a broad range of quality assurance services. The company differentiates itself from its competitors through its global scale, its premium customer relationships and its comprehensive service offering. Formel D currently generates about 75% of its sales in Europe. The company has identified significant potential to extend its presence, especially in Asia and the US. In addition, the fragmented market offers further growth opportunities through M&A transactions.

    Juergen Laakmann joined Formel D in 2002. The holder of a doctorate in mechanical engineering has been a Member of the Management Board since 2005, currently responsible for the regions of Germany and Americas. He will become CEO with immediate effect.

    Juergen Laakmann said: “To be appointed sole CEO of Formel D is both an honour and an obligation for me. I’m looking forward to the new challenge. Formel D is perfectly positioned and has highly skilled and motivated employees. I am convinced that with the support of our owners, 3i and CITIC Capital, we will be able to successfully seize and exploit our growth opportunities, particularly in international markets.”

    Ralph Heck, designated Chairman of the Advisory Board of Formel D, commented: “Juergen Laakmann has an excellent reputation among the employees and an impressive track record with the company. We look forward to Juergen Laakmann serving as CEO and leading Formel D into the next growth phase. At the same time, we want to thank Holger Jené and Claus Niedworok for their tireless and successful endeavors in the past years. They have contributed significantly to further developing Formel D and enhancing the company’s global presence. The Advisory Board wishes Holger Jené and Claus Niedworok all the very best for both their personal and professional future.”

    Press contact
    Formel D Group
    Katharina Breuer, Public Relations
    T +49 2241 / 996 222 │ F +49 2241 / 996 8720
    pr@formeld.com | www.formeld.com

    About Formel D

    Formel D is a global service provider to the automotive and component supply industry. The company develops concepts and scalable solutions for quality assurance and process optimization along the entire automotive value chain – from development to production through to aftersales. Headquartered in Troisdorf near Cologne, the company was founded in 1993 and has over 7,000 employees at 80 locations in 19 countries worldwide.

    For further information, please visit: www.formeld.com

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  • May 12th, 2017: New owner for Formel D

    New owner for Formel D: 3i invests in Formel D

    Path set for continued growth

    Troisdorf, May 12th, 2017 - Deutsche Beteiligungs AG (DBAG), Frankfurt, as well as DBAG Fund V, the private equity fund managed by DBAG, sold their shares in the Troisdorf-based Formel D GmbH on May 12th, 2017, to 3i Group plc (“3i”), who is now the new principal shareholder of the company. Formel D is a globally active service provider for the automotive industry, specializing in quality management and quality assurance. The contractual parties have agreed to keep the sale price confidential. Completion of the transaction is subject to the consent of the responsible competition authorities.

    3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America. 3i provides investment solutions for growing companies, providing access to its network and expertise to accelerate the international growth of companies.

    Formel D’s long-standing management team, with many years of experience will also remain co-shareholders under the new principal shareholders. Managing Director Claus Niedworok: “In 3i, we have a strong owner on board, with whom we can continue to successfully drive forward our global growth strategy.” Ulf von Haacke, Partner & Head of Industrial at 3i Germany, commented: “We are really excited to be working with Formel D. While it has already built a global presence, 75% of revenue still comes from within Europe, so there is clear potential for the business to grow with its existing clients in the US and Asia. In this fragmented market, we see ample growth opportunities through M&A.”

    Formel D handles quality assurance of products and processes for the automotive industry along the entire value chain. The company, which was founded in 1993 and has its headquarters in Troisdorf near Cologne, is represented at more than 80 locations in 19 countries and active in all relevant automotive markets. Its customers include both vehicle manufacturers and supplier companies across the globe. In 2016, more than 7,000 employees generated a turnover of around 255 million euros. In 2012, sales still stood at 124 million euros. Claus Niedworok, who manages the company together with Dr. Holger Jené and Dr. Jürgen Laakmann: “Since coming on board, DBAG has successfully supported us in achieving our current market position. At the same time we have systematically aligned our processes and structures towards further growth. But this growth must also be based on secure and reliable financing in future. For that reason, 3i is the ideal shareholder for us, who will support our strategy and continue to write our success story.” As a leading player in the market for quality services in the automotive industry, the company sees itself well-positioned to profit from the expected consolidation processes in the industry.

    Employees and customers will not be affected by the change in ownership, and there are no changes in terms of business sectors or contact persons. Our focus will continue to be on product development, production, and aftersales. Managing Director Dr. Holger Jené: “We support our customers in ensuring that vehicles and components are market-ready and provide implementation and optimization of service processes.” For example, Formel D ensures that the necessary steps are taken as early as the development phase so that once a vehicle or component has completed testing, production can take place in a fault-free and process-optimized way. This includes, among other things, managing entire test vehicle fleets, carrying out test drives, or fully operating test centers.

    In production, Formel D, first of all, ensures the quality of the manufactured products with a tailored service solution and, secondly, an optimal flow of production processes. And this not only applies on the vehicle manufacturer's side, but the suppliers' side too: supplier selection, qualification and development are also part of the service profile. During critical project start-ups or in case of supplier issues, Formel D is able to offer the required resources and solutions at short notice, for example to overcome a lack of vehicles, components, or processes. In the area of aftersales, Formel D's services include reworking and refitting of new vehicles prior to delivery, standardized and individual service training, or management of warranty cases.

    In future, there is additional, unexploited potential among existing customers who currently use only parts of the broad service portfolio. Dr. Jürgen Laakmann, Managing Director of Formel D: “We have also been very successful in acquiring new customers in recent years. We will focus on both fields of action, cross selling and customer development. The market still has great potential for us, and the new ownership structure offers optimal framework conditions for leveraging it to achieve growth.”

    Press contact
    Formel D Group
    Katharina Breuer, Public Relations
    T +49 2241 / 996 222 │ F +49 2241 / 996 8720
    pr@formeld.com | www.formeld.com

    Download as PDF

  • May 25th, 2016: Formel D UK at the Automechanika in Birmingham

    Formel D will present its extensive aftersales, product development and production service portfolio to trade visitors at Automechanika in Birmingham from 7 through 9 June 2016.

    Birmingham, UK, will host Automechanika for the first time this year, emphasising the importance of the British market. This trade fair for the aftermarket segment provides the platform for the automotive industry to showcase its innovations throughout the automotive value chain. Across 21,000 square meters of space, hundreds of exhibitors present their products, services and solutions through which they support OEMs and component suppliers in the aftermarket.

    Service intervals, dealer support and warranty management are crucial to the satisfaction of car buyers and hence their brand loyalty. Formel D will present its extensive aftersales product development and production service portfolio to trade visitors at Automechanika in Birmingham from 7 through 9 June 2016 on its own exhibition stand. The company will showcase to a professional audience from the automotive and component supplier industry leading concepts and individual, scalable solutions for quality assurance and process optimisation along the entire automotive value chain. For over 20 years now, Formel D has supported its British customers with product development, production and aftersales solutions. Including individual vehicle preparations, warranty management and the configuration of show cars. "As a partner to the global, but especially also to the British automotive industry, we are part of the network. It goes without saying that our trade fair presence will focus on both our current portfolio and the high-growth area of aftersales. Automechanika is a fantastic way for us to reach our target group," Neil Davies explains.

    We look forward to welcoming you to our stand, J33 in Hall 10, at Automechanika Birmingham.

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  • July 31st, 2015: A strong brand repositioned

    Formel D optimizes its product range and revamps its design

    Ahead of IAA 2015, the globally successful service partner to the automotive industry implements its strategic realignment by consistently restructuring its product range. As part of a comprehensive relaunch of its corporate identity, Formel D combines in-depth expertise and company values with structurally optimized services along the entire automotive value chain.

    For more than 20 years now, Formel D has supported its customers with a quality, professional approach to getting vehicles and components ready for the market and making sure that service processes are implemented and optimized. The focus is always on developing leading concepts and specific, scalable solutions to ensure quality assurance and process optimization.

    Visible modernization

    The strategic realignment will be followed by implementation at structural and visual level. "Through our day-to-day activities, we have already built up a very good reputation with our customers. Our success is down to our team-spirited, professional and passionate approach. That's why the big brands in the global automotive industry trust us", explains Dr. Jürgen Laakmann, one of the three Managing Directors at Formel D. "We want to exploit every opportunity to grow this confidence in Formel D even further. We claim to be "the driving force in the Automotive Service Industry", says Laakmann, justifying the relaunch and the repositioning of the brand this involves.

    With its new Corporate Identity, Formel D is also communicating this motivation at visual level. "We quickly realized that to re-position our brand, we had to revamp our corporate image", says Claus Niedworok, Managing Director at Formel D. "This new image is a visible sign that Formel D is advancing as a modern and self-confident partner to the automotive industry. All employees are helping to establish our positioning and shape our image worldwide", Niedworok continued. The challenge of realizing a visible modernization while safeguarding the brand recognition value is being met by complementing, rather than replacing, existing trademarks. A distinct color scheme and dynamic design features emphasize the automotive focus of the Formel D brand, and this is reflected in the activities at this year's IAA.

    Transparent structures

    The combination of established successful services and modernized elements is consistently pursued at content level too. As part of the relaunch, Formel D is re-systemizing its service portfolio into the segments of product development, production and aftersales. The result is high structural transparency. "We have targeted our portfolio and geared it to the needs of our customers. More and more, these customers are seeking partners who can support them in all phases of their product's lifecycle", explains Dr. Holger Jené, Managing Director at Formel D. "We have restructured our services with a view to clearly positioning ourselves as an expert provider of solutions for increasingly complex tasks. In doing so, we are focusing on all phases along the automotive value chain."

    In the product development segment, Formel D supports its customers by trialing vehicles and building prototypes and test vehicles. Formel D also operates a test center and assists with the homologation process. The related area of production includes services such as supplier, quality, SOP and series management. The aftersales segment comprises service, vehicle, dealer and warranty management.

    Formel D at the IAA

    Visitors to IAA 2015 will have the opportunity to gain an insight into Formel D's revamped image. Formel D is set to impress on stand A05 in hall 4 with a dynamic, fresh exhibition design. Experts will be on hand to discuss the relaunch, the product range and the repositioning of the brand.

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  • March 26th, 2015: Formel D as an exhibitor at Auto Shanghai 2015

    Formel D as an exhibitor at Auto Shanghai 2015

    Auto Shanghai 2015 will be taking place from 22 to 29 April 2015 in the National Center for Exhibition and Convention in Shanghai. The leading fair of the automotive industry in Asia is oriented in particular towards OEMs and suppliers and an international trade audience. In total, more than a million visitors are expected.

    Formel D is an independent, global provider to the automotive industry and the Auto Shanghai is ideal to inform about the trends and developments in the Chinese automobile market as well as the latest in products and innovations.In the German Pavilion in Hall 6.2 Stand 6B E415, the Formel D Group will be presenting its entire services portfolio with production, quality and after-sales services along the automotive value chain. In addition to this, the company will be introducing supplementary, comprehensive solutions that integrate seamlessly into existing customer processes.

    Since Shanghai Formel D Technology and Engineering Co., Ltd. has been founded in 2005, Formel D has successfully provided professional services for OEMs and suppliers in China. Due to the increasing demand for services, the Formel D Group has expanded the presence by nine additional locations in Beijing, Changchun, Changshu, Chengdu, Chongqing, Daqing, Shenyang, Shenzhen and Wuhan. Formel D's participation in the fair is also an indication of the importance of China as a location for the automotive sector.

    The fair is also being supported by the association of the German automotive industry (VDA), the German Federal Ministry for Economic Affairs and Energy (BMWi) and the association of the German trade fair industry (AUMA).

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