Translations:Balay S.A./4/en

BSH CEO, Dr. Herbert Wörner, delivered the opening address at the BSH company conference in Munich in June 1989, where he outlined the strategy for the coming 1990s: "...to develop BSHG from a company with a heavy bias on the home market (...) to a true European white goods producer." The majority stake in Balay and Safel in December 1988 represented a significant step already toward achieving this objective. BSH thus acquired the 24 percent market share held by the two Spanish manufacturers in their home country. At a European level, a market share of 12 percent was achieved, thus making BSH the second largest manufacturer of home appliances.