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Radio Boy

Grundig Radio Boy - History of Grundig, 1945 - 1997.

Much as I would like to be able to take the credit for this document, I cannot. It was published on Grundig's own website, and on regional Grundig sites such as Grundig Australia. It has been replaced by a new, less thorough version, first on the main website, and then others, until it finally disappeared officially at the end of December 2000, when the Australian website adopted the corporate image.
Therefore, as it is no longer officially available, I present it here, for those who want a quick but reasonable overview of the progress of the company.
If you want to see the new history, visit the press portal at Grundig's website.

 
 
1945 Max Grundig moved the remains of his electrical workshop to Fuerth from the small village on the Regnitz where it had been stored during the war. He started producing transformers for radio receivers, in rented rooms. The first complete items produced were valve measuring and testing sets for repairing radio receivers.
1946 The small production operation gradually expanded beyond the confines of the workshop. Protracted negotiations ensued with the town authorities of Fuerth, from whom the young company wanted to rent a site on the outskirts.
1947 The first low buildings appeared on a site which had formerly been a park. Max Grundig, not yet 40 years old, hired competent technicians, designers and commercial staff from all over Germany, and together with this team built the "Heinzelmann" single-circuit receiver. This kit was available without a ration card, and established the name Grundig at a stroke.
1948 There was a high level of pent-up demand for radio sets. Grundig built further production workshops and a laboratory. Finding the necessary building materials was a difficult process. The "Weltklang" was the first post-war "super" set to reach the market. The workforce had now reached 650 employees.
1949 The 150th radio set came off the production line. An office block and a three-storey factory building were built. The first post-war mains/battery operated portable radio set was produced, the "Grundig-Boy". The cabinet was made in the company's own injection moulding facility. This was also the year the first radiogram appeared.
1950 Grundig was the first to mass-produce VHF receivers. A big new assembly hall for radio sets was built, to take 1,000 new workers. The 500,000th set had now left the factory. The new receivers included the innovative Grundig feature of push-button operation instead of the tradition knobs, and also VHF long-range reception.
1951 Grundig took over the Lumophon works in Nuernberg, and started producing the highly successful domestic tape-recorder. The first models were designed as a chassis for fitting to radiograms. In the television sector, Grundig set up its own television test transmitter to develop and test the first receivers. Grundig presented the first public demonstration in Southern Germany of wireless television reception at a horticultural show in Fuerth. The appearance of the Grundig AS 248 car radio reflected increasing post-war car ownership. The production of wooden cabinets started up in the previous Lumophon factory in Georgensgmuend.
1952 A new factory was built for the production of the first television receivers. Grundig was now the largest manufacturer of radios in Europe. A million sets had been sold. Measuring instruments were also included in the product range. A "pocket" portable receiver was launched, the "Boy Junior". The first portable tape-recorder under 1,000 DM was launched. Max Grundig was awarded the Federal Service Cross. Housing was built for workers, and the housing company Grundig Wohnungsbau GmbH was formed.
1953 The first German television receiver under 1,000 Marks was built. Record production run for domestic receiver - more than 100,000. A reel-to-reel tape-recorder with 15 cm reels and reverse mode, the TK 9, was launched. An innovative product in the professional television field was the first German Vidicon television camera designed for use in monitoring systems.
1954 Grundig popularised 3-D sound by installing dynamic side speakers in table top and radio gramophone cabinets. Two million Grundig sets were now in use worldwide, and the "Heinzelmann" time switch radio, the precursor of the current Sono-Clock, was launched. The "Stenorette", launched in 1954, established today's worldwide reputation of Grundig dictating machines.
1955 Grundig became the largest manufacturer in the world in the tape-recorder sector, popularising tape-recording as a hobby with the legendary portable TK 5 at a price under 500 Marks. A new facility was built to expand tape-recorder production capacity; the workforce now numbered 9,000 and annual production stood at 700,000 units. This was also the year Grundig created the first miniature television camera in the world for the internal inspection of pipes, and for borehole probes.
1956 Grundig was now the largest radiogram manufacturer in the world. Television production capacity now had to be increased. The E 88 C "Wondertube" gave the sets good long-distance reception. The first German transistorised portable set was launched, the Grundig "Transistor Boy". The workforce had now grown to 12,000.
1957 Max Grundig acquired a majority shareholding in Triumph-Werke in Nuernberg and Adler-Werke in Frankfurt, acquiring substantial influence in the office equipment industry. The "Gabriele" personal typewriter at the sensational price of 298 DM started its successful career. The fully electric "Matura-electric" typewriter was also a big success. The largest tape-recorder factory in the world was built in Bayreuth. The total production to date amounted to 5 million units!
1958 A further factory came on stream for manufacturing wooden cabinets. The first stereo concert radiogram and the first full-stereo tape-recorder came off the production line. A special factory was established in Nuernberg for plastics production.
1959 A new radiogram factory was built in Bayreuth in addition to the tape-recorder factory. The first battery-operated Grundig tape-recorder, the "Niki SK", and the first 4-track tape-recorder for mono/stereo operation were launched. Grundig presented the first compact television camera, the FA 40 "TV Eye", at the radio and television equipment exhibition. Max Grundig was appointed consul of the United States of Mexico. The workforce now numbered 26,000 and production stood at 7 million units.
1960 Television sets were fitted with cordless ultrasonic remote control. The smallest German pocket receiver, the "Mini Boy" (250 g, medium wave, 6 transistors, 104 x 65 x 27 mm) was launched. Further innovations included the TK 1 battery tape-recorder with constant tape speed (9.5 cm per second), and the 6098 and 6199 tuner/amplifier with separate loud speakers. The demand for measuring instruments was steadily increasing, so an electronics plant was planned. An independent tape-recorder factory was established in Northern Ireland. Construction was started on an office building in Fuerth. The Grundig group now had 30,000 employees, of whom 8,000 were employed at the original factory in Fuerth.
1961 The electronics plant was built on the outskirts of Fuerth, and electronics production moved there. The employee training facilities were expanded to meet the need for skilled workers. Notable innovations in this year include in particular the first transistorised television camera and the "Solo Boy", a compact pocket receiver for just under 100 DM, and the 40 series tape-recorders. This was the year that Grundig launched the first German portable television. The number of units produced had now reached 10 million. 
1962 Work started on the largest and most modern tape-recorder factory at Dutzendteich in Nuernberg. The "Modular Range" with the HF 1 and HF 2, and NF 1 and NF 2 modules, was launched in the hi-fi sector. These user-installed modules made individual configuration of hi-fi units possible. The upright TK 6 battery/mains tape-recorder was launched. A low-noise transistorized pre-selector was introduced for television VHF tuners; in the professional sector Grundig introduced the first high-definition television set with 875 lines. The "Ocean Boy" short-wave radio came out, and the TK 19 tape-recorder featured automatic level control for the first time.
1963 The RT 50 hi-fi tuner (still with valves), and the fully-transistorized SV hi-fi amplifier were launched, attracting widespread interest in the industry. Developments in electronics include a machine tool numerical control with outstanding price/performance, introduced at the Milan machine tool fair. Broad-band television transmission using twin-core telephone wire was introduced for the first time. A portable set with 20 times the 49 m short-waveband width, the "Elite Boy 203 L", was launched.
1964 Printed coils were used in television image intermediate frequency amplifiers. The dictating machine range was extended by Stenorettes with single-hole tape magazine or foil recording medium. The EN 3 "Electronic Notebook" with 2 x 22 minutes recording time was produced.
1965 The second international factory was built in Braga, Portugal. A new dispatch railway station was opened at Dutzendteich in Nuernberg. New products included the hi-fi modules of the world class RT 40 (tuner) and the transistorized SV 40/SV 80 (full-range amplifier), the "Satellit 205" short-wave radio with comprehensive short-wave equipment, and the fully transistorized AS 40 car radio and AC 50 car cassette unit, and the C 100 cassette recorder with DC cassette. In the area of professional electronics, Grundig developed the first fully transistorized television monitors in Europe, and a 1 inch video recorder for monochrome recording.
1966 16.5 million Grundig units had been sold worldwide. The HF 500 chassis was a combined tuner/amplifier kit for hi-fi individualists. The TK 245 launched a new range of tape-recorders.
1967 Distinctive innovations included the first Grundig hi-fi receiver, the RTV 600, the C 200 cassette recorder with compact cassette and the cigarette-packet-sized EN 7 "Electronic Notebook". The first 1 inch video recorder with colour capability for professional use was introduced.
1968 The office equipment subsidiaries Triumph and Adler were sold to the US company Litton. Grundig used the proceeds to further expand its activities in consumer electronics. Innovations included the first hi-fi amplifier in Europe with built-in equaliser (SV 140), the first radio recorder, the C 201 FM with compact cassette unit and VHF reception, and the full stereo "Stereo Concert Boy" portable set, and a new "Satellit" with short waveband expansion. An innovation in professional electronics was a narrow band video transmission process whereby a television picture could be transmitted over the telephone line and be available within one minute as a photographic record.
1969 A new television factory in Rovereto, Italy, came on stream, and the 250,000th hi-fi speaker came off the production line. The RT 100 hi-fi tuner together with the SV 100 amplifier, which is still a respected "hi-fi ensemble", was built. Innovations included the C 340 four range radio recorder and the TK 2400 FM battery/mains tape-recorder with reels and built-in VHF unit. The professional electronics development unit announced a process for cordless picture transmission between moving and fixed parts of professional television systems using "leakage cable" technology.
1970 In the Langwasser district of Nuernberg a colour television factory and a plastics production plant came on-stream. The first cassette deck for hi-fi systems (CN 222) and the "Audiorama 7000" spherical speaker completed the hi-fi product range.
1971 A factory was built in Creutzwald, France and started production. The production of the 2-way hi-fi studio 2000 launched a best-seller. The "Sono Clock" clock radio was offered for the first time with a digital display. Grundig displays its first VCR standard home video cassette recorder at the radio and television exhibition. The Professional Electronics division developed contactless electronic video crossbar switch panels instead of the traditional relay system.
1972 On 1.4.1972, Grundig Werke GmbH became a public limited company. A milestone in television history: the "Super Color" sets with fully transistorized chassis and modular construction for ease of servicing. Grundig was the official supplier to the Olympic games in Munich, where 9,000 Grundig monochrome and colour television sets were used to provide information.
1973 The company celebrated its 25th anniversary. The Grundig group now employed a workforce of 27,000 in Europe and overseas; 40 million units had been sold worldwide since the company was formed. The Grundig city in the Langwasser district of Nuernberg continued to grow; central customer services and the Nuernberg sales office were located there. A Grundig bank opened a branch. Grundig put the first German portable colour television on the market. Grundig brought out the RTV 1040 and Studio 2040 to service the quadraphonics market. Grundig launched the "Stenorette System 2000" with the "Stenocassette 30", the first dictating cassette in the world with a built-in minute tape indicator. First successful television test transmission with 46.2 km balanced 2-wire circuit. A video recorder with single frame store in 1 inch format was built.
1974 The annual turnover of the Grundig Group worldwide rose to 1.75 billion DM. The workforce now numbered more than 31,000 at home and abroad. The C 6000 radio-recorder, a leading product with outstanding sales figures (713,000 in total!) was produced, and also a new generation of reel-to-reel tape-recorders, the TK 545/745/845. Grundig produced a modern television information system for Deutsche Lufthansa to transfer 40 image signals to 140 operating centres.
1975 Total turnover for the financial year 1974/75 (31 April) increased to 2.1 billion DM. At the end of March, Grundig's workforce numbered 32,500. The product range included cassette car-radios for the first time, the models WKC 4010 and WKC 4020 Stereo. The TK 850 FM reel-to-reel tape-recorder was fitted with a VHF unit. The first 3-way compact unit, the Studio 3000, was launched, and the Sono-Clock clock radios were fitted with an electronic digital display.
1976 "Super Hi-Fi" - Grundig launched a completely new hi-fi range under the motto "hi-fi for everyone" (entry level models: receiver 30, 40, 50, 3-way studios RPC 300/500). New hi-fi cassette decks CN 500 - 1000. A semi-professional reel-to-reel tape-recorder was launched, the TS 1000. Interference blanking ensured noise-free reception in car radios. The first portable VCR standard colour television video recorder was perfected. The total turnover of the Grundig group for the financial year 1975/76 totalled 2.37 DM. The company now employed 22,500 employees at home and 8,900 abroad.
1977 The total turnover of the Grundig Group increased by 6% to 2,514 billion DM. The workforce grew to 34,570. New products included the WKC 2835 VD stereo cassette car radio with electronic station-finding, a range of CB equipment, and the TS 945 hi-fi reel-to-reel tape-recorder. Technical developments included a patent application for the remote control of video recorders via the data bus; Grundig Electronic presented a high-resolution 1 inch video recorder with 10 Mhz video bandwidth.
1978 The video recorder factory in Langwasser, Nuernberg comes on stream. The quasi parallel sound system was introduced to improve sound reproduction in television receivers. Dynamic loud speakers with built-in amplifiers were introduced to the hi-fi range. The total turnover for 77/78 amounted to 2,763 billion DM, the workforce worldwide was 37,500.
1979 A large number of innovations were again introduced this year. Grundig introduced the Standard Video 2000 with reverse cassette and automatic tracking system for home video-recorders, and brought out the first German colour television projector. In the hi-fi sector, Grundig offered a completely new design in the 100 NM range and the mini range. The XPC 6500 and RPC 650 3-way compact unis with cordless remote control were also introduced. A new successful portable receiver range, the "Yacht Boy", was introduced. The "Teleboy 2000" telephone answering machine extended the office equipment range. The total turnover for the financial year 1978/79 was 2,956 billion DM. In 1979 an equity link with the Philips Group was established.
1980 The new Grundig hi-fi range was further extended. The slim-line ST 6000 hi-fi tuner with alphanumeric station display generated much interest. This included the SXV 6000 pre-amplifier. The "Monolith" hi-fi dynamic flat-top antenna with 22 loud speaker systems also attracted much interest. In-car hi-fi: the WKC 2840 hi-fi stereo cassette car radio to DIN 45500. The G.A.T. 48 automatic telephone dialling unit completed the office equipment range. In the Professional Electronics sector notable innovations were introduced for distributing audio and video information. Total turnover: 2,772 billion DM (financial year 1979/80).
1981 The "Video 2 x 4 Super" video recorder with real-time display of tape position and tape remaining, and the first stereo compatible video recorder were introduced. The hi-fi programme was extended by the "Compact Range", and cassette decks with cassette mechanism tray. The "Sono-Clock 810" talking clock radio was introduced. The total turnover for the financial year 1980/81 amounted to 2,768 billion DM, the workforce numbered 30,800.
1982 Grundig introduced a range of interesting innovations: a new top-class hi-fi receiver, the ST 6500 tuner, was introduced. The Mini Series was replaced by the Midi Series, tangential record players were introduced. The flagship WKC 3867 VD car radio was added to the range, with a 4 20 watt booster. The EN 3 "Electronic Notebook" was introduced as a handy jotter. The Professional Electronics division presented a stereo colour television based on the polarisation principle. The figures for the past financial year 1981/82 were as follows: total turnover 2,863 billion DM, workforce 31,500.
1983 Further innovations were the Satellit 300 and Satellit 600 shortwave receivers with direct frequency input and synthesizer tuning system. A number of innovations in the area of professional electronics and office equipment were introduced at the Hannover fair, including the BT 2000 screen text editing system, the Cinema 9080 colour television large-screen projector with a 1.28 square metre screen area, new television cameras for the various application areas, and a range of innovative measuring systems and equipment. The Office Equipment division introduced the "Teleboy 3000" telephone answering machine with voice recording and remote telephone access, and the "Teleboy 1000" for private use.
1984 The Dutch Philips concern increased its equity stake, Hermanus Koning became Chief Executive Officer. In the video sector, Grundig became a multi-systems supplier, producing VHS systems alongside Video 2000 recorders with trend-setting ease of operation. The new multi-system television receivers for 5 different standards offered unlimited viewing pleasure. A car radio was displayed at "hi-fi video" 84 with two receiver units, with priority at all times for traffic information bulletins. Grundig displayed an adaptor for programme-controlled video recording using the identification signal of the planned video programme system. Grundig produced an extensive range of equipment and accessories for private and commercial use associated with the new videotext medium (Btx).
1985 Multi-system television units were graded to receive 9 different television standards. The range was completed by a multi-system video recorder for 5 television standards. Grundig introduced CTI circuitry for optimum colour contour focus in television sets. A new generation of video recorders (including the first German-produced VHS hi-fi recorder) with the ATTS system (Auto-Tape-Time-Select) system for automatic real-time display of tape position was introduced. At the radio and television exhibition, Grundig displayed the first time a satellite TV receiver for direct reception of telecommunications' satellites.
1986 Television and video-recorder were combined in the new Grundig TV recorder, a combination free of complex cabling, but which could nevertheless be used separately. The VS 400 VPS was the first video recorder to come off the "Tommy Line", a new flow production system in the Grundig VCR plant. This new video recorder production system represented an 80 million DM investment. "Satellit 400" and "Satellit 650" were the first shortwave receivers with microprocessor controlled operation. The "Sonoclock 710 SP" talking clock radio used a computer synthesized voice to tell the user the time. The Chief Executive Officer Hermanus Koning had goods news for the Annual Meeting press conference: after some difficult years, Grundig had moved out of loss and was heading for a profit for 1986/87 (31 April) measured in tens of millions. Shortly before Christmas, Grundig presented three innovative television products: two "Jumbo" wide-screen units with screen sizes of 95 and 82 cms, and the first mass-produced colour television set in the world running at 100 Hz without large-area flicker.
1987 Grundig set new standards for exclusive hi-fi units with a new luxurious hi-fi range. "Fine Arts by Grundig" expressed a new hi-fi philosophy, and was also the name of two product ranges: the Fine Arts 9000 Series demonstrated that High End Technology was not only to be had from dedicated hi-fi manufacturers. The end-of-year results (31 April) indicated a successful year 1986/87: the annual net profit, after years of loss, amounted to 110 million DM. The group turnover increased by 6.5% during the financial year to 3,114 billion DM. This breached the 3 billion DM turnover barrier for the first time since 1982/83. The "Jumbo" TV's introduced at the end of 1986 and the 100 Hz unit were bestsellers right from the start, with long waiting lists. In advance of the international radio and television exhibition, Grundig presented a video recorder with simplified operation, the VS 540 with text programming and user guidance. The radio and television exhibition IFA '87 was a complete success for Grundig. The product range displayed was well received, e.g. a portable television with solar unit and RDS car radio with removable control unit for protection against theft. The Grundig plant in Bayreuth had been in existence for 30 years. It was built as a tape-recorder factory in 1957; it was soon joined by radiogram production. The production of portable dictating machines began in 1962. In 1978/79, production switched from tape-recorder and cassette production to specialist office equipment production. In the course of its existence, the Grundig Works in Bayreuth produced 15 million units. The Chief Executive Hermanus Koning retired having successfully completed his task of restructuring, and was replaced by Johan van Tilburg.
1988 Activity plans taking account of the demands of technological innovation were drawn up for all domestic Grundig factories and companies. Grundig took over a company in Malaysia from Ruf; this facility employed a workforce of approximately 700, producing principally audio equipment. The Office Equipment division introduced innovative products at the Hannover Fair CeBIT: the PC Diktat 2000. On 11 April, medium-sized dealers formed the Grundig Dealers Initiative (GFI) to enable them to compete with the large-scale distributors. 

 At the annual meeting press conference on the 14 July the Chief Executive Johan van Tilburg declared himself satisfied with the financial year 1987/88, with an increase in turnover of 3.4% to 3,219 billion DM, and an increase in the annual nett profit of 5.4% to 115.4 billion DM. Innovations in the Grundig TV range included the Monolith 70-100 HDQ, a 100 Hz second-generation television receiver. The tube preamplifier of the Fine Arts range generated interest at the specialist hi-fi fair High End '99. 
Grundig participated in the European "Eureka '95" research project to develop a compatible HDTV standard, producing a VHS-based 12 Mhz video recorder and a 100 Hz HDTV converter. Both Matshusita joined Hitachi in buying video heads from Grundig from October 1988.  
Grundig electronic brings the first high-resolution CCD camera with 440,000 pixels and the first colour generator with S-VHS output onto the market. The Office Equipment division presents a new electronic filing system, the GBA 2000 at the "Orgatechnik" fair in Cologne. The Grundig Academy, formed on the 2 May 1978 as a charitable foundation, celebrated its 10th anniversary.

1989 Grundig launched the "Satellit 500" with a pre-programmed range of 40 stored stations with 156 alternative frequencies as a special feature - shortwave tuning at the touch of a button! Grundig launched the VS 680 VPT, the first Super VHS recorder "Made in Germany". It had an unparalleled range of features and extra functions. Grundig joins the "dynamic phase" of hi-fi loud-speakers with the "Fine Arts Five". This self-adjusting speaker had 4 built-in amplifiers producing a nominal output of 200/120 watts.  

Grundig electronic displayed a new digital storage oscilloscope at the Hannover industrial fair, the model SO 40. A new venture as also introduced - environmental monitoring technology. Parts of the cabinet factory in Georgensgmuend/Mfr. were acquired from Grundig AG by Barthelmew GmbH & Co, Shopfitting, Shop Window and Industrial Displays. The Vienna underground was fitted with colour television systems by Grundig electronic. 
Four new models of car radio, which had radio data system (RDS) alphanumeric station display and also automatic alternative frequency selection have been introduced. Tow of these units were in the distinctive "designed by F.A. Porsche" style. Further developments included the double security system with removable control operating unit and additional code number security. At the press conference on the annual results for the financial year 1988/89, the Chief Executive Johan van Tilburg had goods news: turnover had increased by 6.5% to 3.43 billion DM, percentage return on sales in excess of 4% for the first time, and 140 million DM nett profit. Product highlights at the international radio and television exhibition in Berlin: 
The range now included five 100 Hz IDTV colour television receivers, including the first projection unit with a 117 cm screen. Grundig set a new trend with the exclusive up-market colour TV set, designed by F.A. Porsche. 
From August 1989 Grundig offered 8 mm standard and Hi 8 System models in addition to VHS and SVHS camera recorders. Grundig presents the ST 9000 satellite tuner in the Fine Arts range for the new era of digital radio, with a full range of complementary units. Along with the 60th anniversary of shortwave, a second anniversary was celebrated - that of 25 years of the Grundig "Satellit". The Grundig Technology division which designed, planned and built production facilities for the Grundig Group, now offered its services on the open market as well. Grundig electronic was in the market from the beginning with its receivers for the new "Cityruf" radio telephone service of the Germany Bundespost. It was with regret that we recorded at the end of the year the death of the founder of the company, Dr. Max Grundig, at the age of 81 in the night of the 8.12.89 in Baden-Baden, where he was buried.

1990 The ST 70-574 SAT stereo colour television was fully equipped for satellite reception, with built-in satellite TV receiver. 
In April the co-operation in the area of car radios between Grundig and Blaupunkt came into effect. At Braga in Portugal the two co-operating companies were already producing components and car radios for supply to the automobile industry and the trade. Grundig electronic presented the new professional VG 1100 video generator for the hi-tech sector. 

 In Langwasser, Nuernberg, the largest production centre of the Grundig Group, the works were redesigned in line with the latest technology for the production of colour television receivers and plastic cabinets. In addition to mechanised, rationalised production processes, there was also an integrated logistics link between the colour television factory and the plastics factory, by process interlinking. The design and functioning of the integrated logistics system was unique. Grundig Vertriebs GmbH started sales in the former East Germany on 2 July 1990. Supplies to the trade had already started on 1 June 1990 from the Federal Republic. Long-term co-operation was successfully established with 1,500 individual dealers in the former East Germany as part of the EC sales link. The financial year 1989/90 was a successful and satisfying one for Grundig. Turnover increased significantly by 10.7% to around 3.8 billion DM; this increase was significantly greater than that for the industry as a whole. The Fine Arts hi-fi range had a new offspring, the DAT recorder DAT 9009. 
At the "automechanika" exhibition Grundig displayed a new range of universal car loud-speakers. This new generation included three Porsche design models, two of them with swivelling and dipping Neodym Tweeters. Grundig had been producing in Miesau/Pfalz for 25 years (Grundig started producing radios and modules on 4 October 1965). The innovative terrestrial Digital Audio Broadcasting system (DAB) made a "modest" debut. 
Grundig also made its contribution to a Eureka project with the development of a fading channel simulator. Test transmissions were made from the Nuernberg telecommunication tower; a specially equipped vehicle was provided for mobile tests. The first video recorder with integral satellite receiver, the VS 790 VPT/SAT, could be directly connected to the satellite system. At the year end the Chief Executive Johan van Tilburg can give good news: in the first 8 months of the financial year 1990/91 (31 April) turnover had increased rapidly by a good 25%. A turnover of between 4.2 and 4.3 million DM was expected for the complete financial year. The good start to business in the former East Germany also contributed to this.

1991 Grundig electronic had had business relations with Stiefelmayer for 20 years. Stiefelmayer was one of the leading manufacturers of 3-coordinate measuring machines. The VS 960 VPT video recorder offered a unique innovation to eliminate confusion in video cassette libraries - the Grundig archiving system creating a "file card" for each numbered video cassette. The new "Systems Technology" division was launched at the CeBIT exhibition in Hannover. It included industrial and office electronics and PC data technology (House of Computers), with the goal of making use of synergistic effects, offering system solutions "from one source", and increasing the share of this division in the overall activities of the company. Grundig entered the telephone terminal market with the TS 980 cordless telephone. 
Minerva was a new product line in the video security technology range from Grundig electronic. The DSR 100 guaranteed excellent audio broadcasting reception via satellite (DSR), complementing the Grundig satellite TV receivers, or for direct cable connection. The ST 9000 and ST 300 satellite tuners were added in the course of the year. At the press conference on the annual results, Chief Executive Johan van Tilburg was able to report that Grundig was "on course". Sales compared to the previous year had increased by 20% to 4.55 million DM, the annual net profit was 190 million DM. A new addition to the product range was a hotel communications system, ASIS, the "nerve system" for hotels, offering guests service, security, entertainment, information and news around the clock. With the IFA '91, a new chapter in the development of colour television technology opened - the transmission of television signals in the new picture ratio 16:0 (previously 4:3). For this new technology Grundig offers a television with 92 cm screen, and the 169-142 IDTV CINEMA with a 142 cm screen. Grundig electronic offered the VG 1100 professional video generator for the new 16:9 picture format. 
The star in the shortwave receiver sector was the Satellit 700 with variable storage capacity for up to 2048 frequencies. A limited edition of 1000 of the "large" Satellit 650 was produced. Grundig brought a squad of new car radios to the IFA and then to the IAA, including models with RDS and EON (automatic station selection with traffic news bulletins), and a CD changer. The Grundig environment initiative set the trend, and set clearly-defined goals; the use of non-pollutant materials in environmentally-compatible production processes for products which can be recycled and with environmentally-compatible packing. A special project team developed and co-ordinated the individual activities. Grundig Electronique Creutzwald, France, reported an increase in sales of 30% compared to the previous year, to 1.24 billion FF. New production facilities were built, representing an investment of 250 million FF. At the end of the year the Chief Executive Officer, Johan van Tilburg, left the company at his own request.
1992 Pieter D. Harmsen is appointed Chairman of the Managing Board of Grundig AG. 
Grundig shows an "electronic weatherman". It is a receiver for the Meteosat geostationary weather satellite. It consists of a receiver in the form of compact domestic radio and a 1.6 m Yagi aerial, which can be used worldwide. A standard television receiver can be used to display visual information. There is good news from electronic office equipment. The 100 million DM turnover mark will be exceeded at the beginning of March, achieving the best result ever for this operation. The 110 million DM mark is achieved by the end of the financial year (31.3.92). The Grundig environmental initiative makes a breakthrough in packaging which can be disposed of in an environmentally sound manner and which is effective, made of 100 percent recyclable cardboard instead of expanded polystyrene. The video recorders are now packed in "egg boxes" as they are popularly known. Fabricantes Europeos de Televisores, S.A., (F.E.T.E.S.A), Barcelona, which belongs to the Grundig Group, ceased production of colour television sets in mid-1992. This closure is due to worldwide excess capacity in colour television sets, and continuing competitive pressure. The Radio Data System (RDS) is on its way to a major breakthrough. Grundig is currently the market leader in the RDS car radio field, and with more than 20 percent share, is heading for a sensational consumer price of around 400.00 DM with its new 1903 RDS model (stereo cassette car radio with VHF unit and double security system). In the financial year 1991/92 Grundig had a turnover of 4.24 thousand million DM. "This is our second best sales figure after a record year with favourable trading conditions, in which the first rush of demand from the former East Germany took effect. The high level of sustained sales nevertheless means an overall reduction of 7 percent compared to the previous financial year, and profit become an annual nett loss of 19 million DM. This substantial deterioration in profit is a warning prompting us to renewed efforts", says the annual report. "ATS euro plus" is a very user-friendly system for automatic station programming of television sets. The customer can have the set store all the stations it is capable of receiving. All TV channels are searched for transmitters, and stations are stored according to a priority list. Advances in environmental and recycling aspects of product design enable Grundig to be the first manufacturer to give a recycling guarantee for all television sets sold from September 1992. "Grundig guarantees to the purchaser of this television set that it will be disposed of at the end of its useful life in a proper and environmentally sound manner. Grundig's environmental initiative is intended to sue all its development and production know-how as a leading manufacturer of consumer electronic equipment to make an active contribution today to protecting the environment of tomorrow. Philips and Grundig established a joint company on 1 September '92 to improve their international market position in the video sector, including key components such as drives, scanners, heads - the "iR3 Video International Beteiligungs GesmbH, Vienna". In Germany this company is represented by "iR3 Video International GmbH & Co. KG, Fuerth" to which Grundig is contributing the works in Langwasser (works 11 and 21) and Pommersfelden, and the video development and product management group in Fuerth. iR3 stands for "Image reception, recording, replay". 
A further step in liberating the telephone is taken by Grundig in presenting a range of models in elegant shapes and colours (telecom approved, of course), offering outstanding value for money. It includes a total of six models with features to meet individual requirements, including two cordless models. Grundig has taken over the plant and rights of the company Hoermann Sicherheitstechnik GmbH, Kirchseeon which is in liquidation, as part of the Industrial Electronics operation.
1993 The Numeric Business Unit of the Industry Electronics Product Division of Grundig AG took over the numeric activities of Philips on 1 January 1993. ` Grundig also acquired 51% of the share capital of Gildemeister Automation GmbH, Hanover from Gildemeister AG, also on 1 January 1993. Simultaneously, intensive cooperation was agreed in the area of numerical machine tool control systems between Grundig and Gildemeister. bkt Computer GmbH acquired four branches from House of Computers (HoC) GmbH - a subsidiary of Grundig AG - on 1 February 1993. Ingram Micro GmbH took over the HoC headquarters and operational areas on 8 February 1993. At the CeBIT '93 Grundig presented the newly created Product Division Grundig electronics. It combined all non home electronics activities and consisted of six Business Units: office electronics, video and security technology, numeric, test equipment, mobile radio, and production technology. With the new organization, Grundig was in a position to react more quickly to changes in the market and to introduce targeted, product-specific measures. To reduce the dependence on home electronics the activities in this area were to be extended and strengthened, to create a second strongpoint in professional electronics. Grundig and Philips intensified their cooperation, to meet the challenges presented by the problems in the market for home electronics. To improve the process of rationalization, and taking into consideration the financial responsibility for Grundig, Philips decided to include Grundig in its accounts on a consolidated basis, from 1 January 1992. Here the maintenance of Grundig's independent corporate identity and the reputation of Grundig brands continued to be viewed as very important. Grundig founded Grundig Multimedia Solutions GmbH (GMS). GMS develops and markets integrated solutions for computer-supported sales. Grundig AG agreed with the works councils and central works council a company employment plan/reconciliation of interests/social plan for securing the employment and standard of living of its employees. This was viewed by all involved as an important contribution to security in the future. The goal of the agreement was to use business measures to secure and retain the entire company against a background of ever tougher competition in home electronics. Here it was important that the centre of business of Grundig in Germany be retained. Grundig presented a completely new hi-fi programme with over 30 components: "Performing Arts". It was characterized by a convincing unit philosophy, high design quality, and flexible combination possibilities. Grundig combined the introduction of these hi-fi units with flanking engagement. The starting point was the idea that the leisure component "entertainment" involves both the development and production of hardware such as high quality reception and reproduction units, and artists, interpreters and technical personnel with high qualifications. Grundig therefore supported the "LIPA" project (Liverpool Institute for Performing Arts), an institution which was founded by Paul McCartney. The second element of the engagement was the sponsoring of Paul McCartney's "New World Tour", which took place simultaneously with the introduction of the "Performing Arts" hi-fi series from Grundig. The Grundig Supervisory Board appointed a member to the Board of Management for the business area professional electronics. This appointment confirmed once again the importance of the business area professional electronics at Grundig. In the financial year 1992/93, poor economic conditions and falling prices led to a decrease in turnover of 13% in comparison to 3.709 billion DM. Despite the reduced turnover, Grundig achieved a slight improvement in its market position in home electronics, through increased unit sales. Grundig made a loss on ordinary activities of 186.8 million DM. The loss rose to 296.3 million DM for the group, due to exceptional expenses of 118.6 million DM for reducing capacity. Product highlights at the IFA '93: 
In the top class TV sets there was the new Megatron concept. A picture screen which is more dust-free and reflects less, excellent sharpness through dynamic focus and speed modulation of the electron beam, contrast-rich picture with brilliant colour, high luminosity factor and new lavender coloured coating characterize this newly developed top class technology. A new satellite TV receiver generation, the models STR 311 and STR 312 had additional features and ease-of-use characteristics in comparison to its predecessors. The computer-controlled, menu-guided operation, the wide range of storage possibilities, and the Radio Data Systems in the FM range made the Yacht-Boy 500 one of the easiest to use units of its class. In TV sets, the use of the PS signal (PS = Video Program System) in combination with the electronic combination lock (child-proof lock) which is standard in all Grundig TV sets, produced an interesting additional function. The PS signal includes a special identification signal intended for the certification "suitable for young people". Grundig and RT used this technical development. It offered parents the possibility to prevent their children from viewing programmes which are not suitable for young people or which include scenes of violence. The first PALplus TV set was presented. The following CI and product development will require approximately another year. So the first PALplus units and PALplus conversion kits from Grundig can be expected on the market at the end of 1994. The Eco-technology Centre was founded. Here once again, Grundig set standards for environmentally sound product design, manufacture, reutilization, and disposal of home electronics units. The idea of a personnel development enterprise was emphasized in the social plan/reconciliation of interests agreed between the Board of Management and the Works Council. This concept found support from the IG Metall union, the metal industry employers, and the local councils in Nuremberg, Fuerth, Erlangen, and Schwabach. The "Company Alliance to Promote Vocational Training "ffw)" was an offer to all those who are responsible for shaping the labour market. The main task of ffw was to support employees who are affected or threatened by unemployment with vocational orientation and reorientation. In data storage Grundig cooperated with the American company Exabyte, the world's largest independent manufacturer of magnetic tape storage systems. Grundig developed the scanner, the electromechanical heart, for a new storage system.  

Grundig electronics and Rohde & Schwarz agreed worldwide cooperation for system solutions in the area of test department automation, on 9 November 1993. Grundig increased its engagement in South East Asia: in Indonesia, Djakarta, a joint venture was founded with the firm PT. Textronic Permai Electronics - PT Grundig International Indonesia (PT GII). The first part of the Grundig AG to achieve DIN ISO 9001 certification was the Grundig works 7 in Bayreuth as well as the Business Unit Office Electronics with development, marketing, and acquisition. Works 4 where principally loudspeakers and wooden frames were produced was sold to "UT 4 HiFi Boxen und Phonomobel GmbH". The sale of the works was carried out by means of a management buy out (M.B.O.). With the M.B.O. it was possible to retain 150 jobs in Georgensmund. The EC Commission approved the acquisition by Philips of the shares in the Grundig Verwaltungs GmbH previously held by the Dresdener Bank, Bayerische Vereinsbank, and Schweizerische Bankgesellschaft. Via this transaction Philips achieved complete control of the Grundig Verwaltungs GmbH and thus the majority interest in Grundig AG. Prof. Dr. h.c. Bertold Beitz resigned his mandate as chairman and member of the Supervisory Board. Dr. Christian Schwarz-Schilling (MdB) was elected as chairman of the Supervisory Board.

1994 Grundig is now introducing Dolby Surround with Prologic in three TV sets. Dolby Surround with Prologic gives you the perfect cinema sound experience right in your living room. Grundig decides on restructuring concept. In an analysis, the corporation structure of a management holding has been devised, with business divisions, distribution divisions, a service division and profit centres. All business divisions, distribution divisions, profit centres and services are to be separated from Grundig AG and transformed into a legally independent company. The restructuring will come into effect on 1.4.1994. This change will lead to a leaner and more efficient structure of the company. The sale of the Grundig TV set factory in Creutzwald, France, to the British company Gooding Consumer Electronic Ltd., Cardiff, becomes legally effective on 30th March. Grundig electronics provides security technology for the 1994 Winter Olympics in Lillehammer. The entire Olympic complex was equipped with video and security equipment. Grundig electronics is implementing an information system for Terminal 2 of Frankfurt Airport. 
The new S-VHS video recorder from Grundig provides, as a world-wide innovation, the master/slave function of the job/shuttle wheel for camera recorders. Gooding Consumer Electronic Ltd. and Grundig AG have founded a joint company to improve their market position in Great Britain in the satellite receiver sector. The new company produces and distributes satellite receivers for the private consumer. In May, Grundig will present its PALplus model, an 82 cm TV set with 100 Hz technology and Dolby-Surround with Prologic. The necessary circuits are based on programmable real-time processors (SVPs), which have been developed in a cooperative venture between Grundig and Texas Instruments. The fact that there are no less than ten patents shows the successful innovative activity of the Grundig developers in the PALplus project. The know-how gained in this development will also be used for the development of PALplus studio coders and PALplus measuring equipment. The economic situation, especially in the year 1993, and the fall of currency and prices in international markets had a significant effect on Grundig's results for the business year 1993/94. These unfavourable factors led to a reduction in turnover by 9% compared with the previous year, to 3,379 billion DM. The group loss increased to 348 million DM. The area of home security is the subject of a new business division of Grundig. The aim of the company is the development, production and marketing of security systems, primarily for use in the private sector and the small business sector. From September, Grundig will produce a new TV tuner generation. It represents an innovative leap in both production technology and tuner technology. As a result of a patented process, balance is completely automated, which is a unique feature world-wide and enables production time to be reduced to a third. Exabyte Corp., Boulder Colorado, has purchased the shares in Grundig DATA SCANNER GmbH from Grundig AG. 
Grundig presents a world-wide innovation - a cable-free HiFi combination. The signal is transmitted optically by infared light. The new top car radio models set new standards with their simple controls and their range of features. 
With the DCR 1000 DAB, Grundig presents the first generation of a DAB pilot receiver to the general public. A new chassis generation will go into production in the autumn. If required, a satellite reception module can be retro-fitted.
1995 The Grundig trademark celebrated its 50th anniversary. Grundig's birthday was marked with the motto '50 years of Grundig, 50 years of innovation'. A world first was the easy-on-the-eye, flicker-free 100 Hz technology, which Grundig was the first producer to bring onto the market in series in 1987, and is now also available for the first time as a 55 cm appliance. No fewer than 12 Grundig TV sets were awarded the 1995 distinction 'especially energy-efficient appliance' within the context of the Swiss Council of Minister's campaign 'Energie 2000'. The Grundig portable TV P 37-740 SAT became the first television set of this size with an integrated satellite receiver. 
The environment switch became a new ecological and commercial highlight. The environment switch is a component that automatically switches TV sets off completely from the mains after a pre-selected 'stand by' period. Grundig managed to break free of the persistent downward trend in the sector and, after three years of declining turnover, achieved growth in the past part of the accounting year (1.4. to 31.12.94). While the European market for consumer electronics dropped in value by an average of 4 %, and the German CE market fell by all of 9 %, Grundig succeeded in spite of a persistent, massive price drop in raising its turnover by 6.4 % to DM 2,685 mil. As far as results are concerned, a negative result of DM 92 mil. was recorded, as opposed to a deficit of DM 313 mil. for the same period last year. VOGT electronic AG, in Erlau near Passau, took over the Grundig works in Miesau with effect from April 1st. 
Grundig increased its stake from 30 to 75% in two companies owned up to now by Gooding Consumer Electronics and acquired 75% of the shares of a further Gooding company in Britain. All three companies operate in the satellite-receiver technology field. Grundig supplied the first 1000 digital TV receivers, referred to as Set-Top Boxes, for the Multimedia-Projekt Bayern [Multimedia Project Bavaria]. This makes Grundig the first producer to be able to bring receivers that meet the European DVB standard (Digital Video Broadcasting) into a field test.  

Operating problems are a thing of the past! Grundig took on one major problem area - the use and operation of video recorders - and presented Megalogic, the new operating concept. Megalogic is more intelligent, faster, and simply easier to operate. The 'Greenville' models represented the first time that TV sets were produced whose casing was made exclusively of recyclate, i.e. plastic parts from old sets. Grundig developed a revolutionary sound system: Space Fidelity. Space Fidelity provides - regardless of where the listener is in a room - optimal musical enjoyment with 3-D souund throughout the entire area. The new Grundig High End CTV range was equipped with a unique, interactive, on-screen user guide: the Easy Dialog System. It contains complete, graphic-supported operating instructions and a user guide. Sets no longer come with a thick set of operating instructions. With its 'Digital Reference' television set, Grundig set new standards for attainable PAL picture quality. All offending, system-related problems of old were eliminated with this High End device. For the first time, Grundig assigned itself a supplier's price and was the first company in the sector to do so. 
Grundig extended its product range in the multimedia sector with the CD recorder CDR 100 IPW and the CD-i player CDI 100 V. 
Grundig was the first consumer-electronics producer to present a CD-ROM uniting product presentation and playing enjoyment in a surprisingly exciting way in time for the Internationale Funkausstellung [International Radio and Television Exhibition] 1995. Since the Internationale Funkausstellung ´95, Grundig has presented itself through its own on-line service on the Internet. This service offers information about the company and is also intended to make journalists' work easier. The completely digital and talking telephone answering machine AM 550 operates using digital storage for the set message and incoming message recording. In the dictation/voice processing product group, Grundig had just brought out a complete product range based on the micro-cassette system. It is on offer together with the familiar Grundig dictation system Stenocassette 30. October 17th, 1995: commencement of the Bavarian DAB pilot project. Grundig supplied the first mass-produced DAB appliance in the world, the DCR 1000 DAB in connection with the car radio 5300 RDS Infomat. Grundig became a participant in the new local TV station for the Nuremberg area. 
In a joint project with the American television station TVN, Grundig intends from 1996 on to supply digital TV receivers to US customers who have a cable connection. The aim of this strategic alliance is to supply American cable network operators with a complete digital hard and software package. The 15,000,000th TV set came off the production line at Grundig's plant in Vienna, Europe's largest television production centre. 

1996 The chairperson of Grundig AG, Pieter D. Harmsen, will give up his position on February 1st, 1996 in order to take on another role within the Philips organisation. The Board has appointed Pieter W. van der Wal the new chairperson of Grundig AG.
1997 During the course of restructuring and focussing on the core activities of the Grundig Group, the plettac AG has taken over the video and security technology operations from Grundig effective January 1st. 
"Grundig AG is opening up to new partners", said Chief Executive van der Wal at the announcement made by the previous parent corporation Philips that it would restrict its activities to those of a passive minority shareholder. Grundig wants to cooperate with new partners as far as possible in the same way it has with Philips - a cooperation that successively strengthened in recent years. The management consulting firm Roland Berger & Partner GmbH and the British consulting company Scientific Generics have been commissioned to support Grundig in elaborating a new business concept. In order to ensure that Grundig's interests as well as those of its workforce are given due consideration, all decisions influenced by the cooperation with Philips are to be assessed after the new situation. The Chief Executive Pieter W. van der Wal resigns his mandate on February 3rd effective immediately. His successor functioning as the Executive Board Spokesman is Pieter M. J. de Jong who already had been a member of the board in the eighties. De Jong wishes to speed up Grundig's reorganization using its own resources and has opted for an offensive strategy: "Grundig's unbroken high level of innovation potential must be exploited for new fields of growth such as the gradual digitalization of consumer electronic products. Grundig has entered a strategic alliance with Holiday Inn Worldwide in the form of a basic agreement extending over several years in which hotel communication systems are to be supplied and operated. 
In March Grundig introduces its new management concept which was worked out with the consulting firms. Philips separation confronts the company with new challenges and makes it necessary to reassess priorities. As a result, the product portfolio will focus on the television set as a central information and communication medium. At the center of these restructuring efforts are those aimed at safeguarding it operations by markedly improving its earnings. At the same time, Grundig underscores its support for Germany as a production location. In the designer competition at the "Design Innovation 97", a Grundig product, the video recorder GV 600, is again awarded the "Red Point for Outstanding Design" along with all identically designed equipments by a renowned panel.  
In April the Grundig plant for satellite TV receivers in Llantrisant/Wales celebrates an anniversary. There, the 1,000,000th set passed the production line. 
Grundig is making its CD-ROM "Grundig - Figures, Dates, and Facts", available to anyone interested in learning more about the company. In addition to a portrayal of the entire corporate group, the disc contains easy-to-find information on products, business figures, and topics such as environmental protection, quality and market information. 
Grundig is expanding its activities to include India. In the future not only locally manufactured television sets but also audio and hi-fi components as well as high-quality televisions made in Europe will be offered to the growing Indian market. In addition to its distributor network in India, Grundig is concentrating on an entirely different kind of network: the Internet. After having introduced the VGA interface for televisions, Grundig is taking a major step towards the creation of a multimedia television with its new Internet-Box. It allows viewers to access the Internet via their own television sets and also provides e-mail and voice mail features by means its integrated modem and microphone. The Internet-Box is easy to use and requires no prior knowledge. As far as environmental protection is concerned, Grundig has been a pioneer in the consumer industry for several years. Grundig now distinguishes all sets that are particularly energy-saving in standby operation with its own environmental seal. Grundig is recognized by the European Car Audio Press. This amalgamation of eight European car-audio magazines awards the Grundig CD-Tuner EC 4290 RDS the first prize in the fields of design and ergonomics. In June the Grundig supervisory board released the annual financial statement for the fiscal year 1996. It revealed that the consumer electronic manufacturer produced an operative loss of 364 million DM while achieving 3.331 million DM in total sales. Added to that figure are extraordinary expenditures for restructuring measures which amount to 265 million DM. Thus the annual deficit increased to 631 million DM including taxes. This covers the expenditures for all restructuring measures to be taken in 1997 which are immediate consequences of the Philips separation. According to the domination contract which is valid to the end of the year 1996, the loss for 1996 is to be born by Philips. In this year Grundig is celebrating 10 years of 100 Hz technology for television sets. In 1987 Grundig introduced the first series production 100 Hz TV sets worldwide. With a 17 % share of the entire television market, 100 Hz technology has in the meantime gained broad acceptance. On August 1st the former Chief Executive of Krauss Maffei AG, Burkhard Wollschläger, assumed the chair of the Grundig supervisory board. Together with the Bavarian Minister of Economics Otto Wiesheu, Wollschläger reached a compromise with Philips. A general agreement is worked out in which among other things Philips is to pay a loss compensation amount of 400 million DM. This agreement resolves all remaining differences between the parties. Furthermore, the Grundig AG shareholder structure will be altered. The British investment bank Botts and Company, which assumed 43 % of the Grundig capital stocks from Philips will sell the shares to a consortium under Bavarian management. For the first time Grundig releases at the IFA´97 figures, dates, and facts about its energy consumption, use of raw materials, and chemicals as well as the waste it produces. 
On September 19th Grundig celebrates its 40th anniversary in Bayreuth. The once largest tape recorder production site in Europe has now become one of the most modern sites for manufacturing sophisticated electronic products. The plant has been producing primarily office electronics since 1985. A workforce of approx. 230 manufactures nearly 260,000 sets annually. Among the products currently being manufactured are analog and digital dictating systems, optic memory (so-called jukeboxes), video and security equipment as well as measuring equipment. The plant in Bayreuth plays a leading role when it comes implementing new manufacturing and quality assurance methods. In 1993 it was the first Grundig plant to be certified according to the standard DIN ISO 9001. A comprehensive teamwork system has been in effect in Bayreuth since 1985. At the end of September the new supervisory board completes the Grundig executive board and appoints Dr. Herbert Bruch as the Executive Board Spokesman. 
Grundig becomes the number one vendor of satellite TV receivers in Germany. 
In November the TÜV Informationstechnik GmbH (TÜViT) in Essen awards the seal "Tested User-friendliness" to sets manufactured by Grundig. 
The readers' choice for the TVs of the year in the magazine "Video" again resulted in positive news for Grundig. The Grundig top-of-the-line set in the 70 cm TV class, the M 72-410 Reference, took top honors as the television of the year 97/98. Seven other Grundig sets were among the top finishers in the other categories. 
By obligating itself voluntarily, Grundig announces that it will parti-cipate in the program "Environmental Pact Bavaria". In recent years a foundation was laid for a modern environmental management system. By the year 2000 at the latest, all locations are to be certified according to the EC ecological auditing ordinance or the internationally recognized regulations ISO 14001. On December 18th it became official: Grundig has been saved! In the presence of the Bavarian Minister of Economics Otto Wiesheu an agreement between Philips and the acquiring consortium is signed in Fürth. This clears the way for the solution put forth under the auspices of Minister Wiesheu for saving Grundig AG. Philips sells 95 % of their Grundig shares to Bavarian investors and retains 5 % for itself. The consortium includes the Bayerische Vereinsbank, Hypo Bank, Schmidt Bank, Bayerische Landesbank, savings banks, the State Office for Reconstruction Financing, Veritas Vermögensverwaltung as well as the Kathrein-Werke KG, Burkhard Wollschläger, Chief Executive of the Grundig AG Supervisory Board, Manfred Bartl, Member of the Grundig AG Executive Board, and Dr. Herbert Bruch, Executive Board Spokesman. Grundig receives 134 million DM as an inflow of funds and a credit facility in the same amount. The Philips and the Max Grundig foundation have made major concessions and also significant contributions in finding a solution for securing the future of the Grundig corporation. All participants are in full agreement that Grundig and the consumer electronics industry in Germany have a definite future. 
 



 
 

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