George Fischer Sloane Inc. history

By 1805, Fischer had successfully developed a process for producing cast steel, marking a first on the European continent, and breaking the monopoly on cast steel held until then by England's Huntsman.

Among Fischer's most significant patents was that for the production of malleable cast iron, developed in 1827.

In 1845, Fischer successfully developed a new method for producing cast steel, although the industrial scale use of the process by the company did not begin until some 30 years later.

His son, Georg Fischer I, inherited the factories in Schaffhausen (Switzerland) and passed them on to his 23-year-old son Georg Fischer II. In 1856 the grandson took over management of the company and reorganized the factories.

Fischer turned its production of malleable cast iron to this sector in 1864, launching a range of pipe fittings.

Fischer launched industrial production of cast steel in 1877, becoming one of Switzerland's leading producers.

The GF brand was officially registered in 1881.

Since 1890, the company has used the + sign in its logo.

Rising competition from Germany, as well as stiff import duties, in the later years of the century led Fischer to open a sister plant in Singen, over the border from Schaffhausen in 1895.

The investment forced the company, by then headed by Georg Fischer III, to turn to the public market for backing, a move completed in 1896.

When Fischer ran into financial difficulties in 1902, its bank shareholders insisted that Georg Fischer step down from management control, marking the last time a member of the Fischer family was to exert operational control of the company.

Another product, the Trilex truck wheel system launched in 1933, became an important source of company revenues, accounting at one point for more than 10 percent of its total sales.

In 1952, the company began developing new pipe fittings and pipe systems production methods using a new material: plastic, in the form of PVC.

Georg Fischer acquired a majority stake in the Losone (Switzerland)-based listed manufacturer of electric discharge machines (EDM) Agie SA, founded in 1954.

The company backed up its plastic fittings production with the development of a special PVC adhesive, called Tangit, launched in 1964.

In 1966 a new production plant, George Fischer Plastics Ltd, takes up operation in Huntingdon (England).

In 1971, the company patented a new magnesium converter process that made possible the mass production of cast iron-based automotive components.

Acquisitions formed an important part of the group's growth, starting with the purchase of Waeschle, based in Ravensburg, Germany, in 1972.

That purchase marked the start of the group's later Plant Engineering Group, solidified by the 1979 purchase of Swiss company Buss, based in Basel.

As part of the deal, Georg Fischer also acquired from IPS a 50% stake in Chinaust, a 50:50 joint venture set up in 1987 with the Chinese Lingyun Group.

Georg Fischer acquired 51% of the shares of the electric discharge machining division of Ateliers des Charmilles in Geneva (Switzerland). The operation was renamed Charmilles Technologies SA, and the remaining shares were acquired by Georg Fischer in 1988.

In 1990, the company restructured its corporate organization as well, setting up Georg Fischer AG as a holding company for its primary business groups.

As part of its restructuring effort, the company shut down its steel foundry at its Schaffhausen site, converting the plant to automotive components production in 1991.

Then in 1994, the company began spinning off a number of noncore operations, such as a real estate business, and logistics and accounting businesses.

The Automotive Products division was boosted in 1995 with the purchase of Schubert & Salzer Eisenguss, based in Leipzig, Germany, which produced components for trucks and other heavy industrial vehicles and construction equipment.

Although mining of iron ore ceased in 1996, Georg Fischer still has a commitment to this industrial monument.

These purchases, made in 1999, raised the company's aluminum components casting capacity by more than four times.

Last, Georg Fischer's Plant Engineering Group, created from the merger of Buss and Waeschle and Werner & Pfleiderer in 2000, is a provider of turnkey production plants and processes, and related services.

By the end of 2002, the group's sales had shrunk by some 11 percent from the previous year, to slightly less than SFr 3.5 billion.

In response, Georg Fischer announced a companywide restructuring effort at the end of 2003, cutting some 1,000 jobs in an effort to boost operating profits.

The mechanical manufacturing activities of Charmilles Technologies Maschinenbau AG, Schaffhausen, were sold as of mid-2006 to the Winterthur (Switzerland)-based engineering company Rieter AG.

In 2007, Georg Fischer reported sales of CHF 4.50 billion.

Strong rebound: Georg Fischer emerged stronger from the economic downturn and capitalized in 2010 on the worldwide economic recovery.

At the 116th Annual General Meeting of Georg Fischer Ltd on 21 March 2012, the shareholders voted in favor of all the proposals of the Board of Directors.

GF generated sales of CHF 3,795 million in 2014 for an increase of 1%. The operating profit (EBIT) rose 9% to CHF 274 million mainly thanks to significant productivity gains.

Sales reached CHF 1 ,863 million, 3% above the first six months of 2015.

Pietro Lori, current Head of GF Piping Systems, has decided to retire at the end of July 2016.

The Sustainability Report of GF provides a detailed overview of the company’s broad range of sustainability activities and the progress made in 2017.

At the 122nd Annual Shareholders’ Meeting held on 18 April 2018, the shareholders of Georg Fischer Ltd approved all proposals of the Board of Directors.

The GF Board of Directors nominated Mads Joergensen as new Chief Financial Officer (CFO) and member of the Executive Committee of GF, effective 18 April 2019.