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News of  October 10, 2001

Porsche establishes first engineering subsidiary in the Czech Republic

Co-operation with the Technical University of Prague attains new quality

Stuttgart/Prague - Dr. Ing. h.c. F. Porsche AG, Stuttgart, and the faculty for mechanical engineering of the Technical University (TU) Prague jointly launched "Porsche Engineering Services s.r.o. (PES), Prague" in the Czech capital on 3rd October. In the presence of the Manager of the Economic Division of the German Embassy in Prague, Dr. Klaus Keferstein, and the Managing Director of the Porsche Engineering Group, Dr. Ulrich Schiefer, a corresponding co-operation contract was signed by Porsche Personnel Board Manager Harro Harmel and Prof. Petr Zuna, Dean of the faculty.

The newly established company will be principally engaged in the field of technical calculation and simulation and the internal and external development of Porsche. The co-operation between both partners has existed since 1996. PES Prague will belong to Porsche Engineering Group GmbH (PEG), Weissach, as a wholly-owned subsidiary.

In his speech, Harro Harmel highlighted above all the pilot character of this new form of co-operation between industry and science: "Porsche is not only securing for itself access to the university's high level of acknowledged know-how and contact to future engineers, but can process customer orders even faster and more flexibly. Due to the fact that we integrate the students into our development process, academic training also benefits. The Technical University of Prague has become a source of competency for Porsche in the past five years."

Prof. Jaroslav Talácko, the holder of the Chair for Machine Tools, has been appointed managing director of the PES Prague. The number of employees has been initially planned at 15. Immediate proximity to the institute is guaranteed due to the renting of TU offices. Porsche will not only support the university in the training of engineers, but also in assigning of diploma dissertations and PhD theses. As a return service, the university will provide help with the recruitment of new employees for PES Prague.

Dr. Ulrich Schiefer, the Managing Director of Porsche Engineering Group: "PES Prague will enable us to improve our competitive edge once again as one of the leading engineering service providers world-wide. Through the co-operation with the Technical University of Prague and their committed and ambitious engineers, we have made another step towards our aim of further extending the customer development at Porsche, so generating additional turnover for the company."

PEG, a wholly-owned subsidiary of Porsche AG, controls and markets world-wide customer development. All activities of PES Weissach, PES Bietigheim-Bissingen GmbH, PES Inc. Troy (USA) and, in the future, also PES Prague have been united under its roof. PEG can draw on resources from more than 1,000 engineers. For the current business year 2001/2002, a turnover is expected in the region of hundreds of millions.

(October 04, 2001)

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