HEMEL HEMPSTEAD, United Kingdom-The U.K. chief executive of Deutsche Telephonwerke AG & Co., Nadahl Shocair, has bought the company’s U.K. subsidiary, DeTeWe UK.
DeTeWe UK was a subsidiary of DeTeWe AG, a German telecommunications equipment manufacturer founded in 1887 and owned by Rochling Group, a German industrial firm with annual earnings of more than $7 billion.
Shocair was hired in late 2002 to reposition DeTeWe UK, which had not seen consistent profits for about 20 years. Under Shocair’s leadership, DeTeWe UK grew its customer base and launched new products, which led to profits for the company.
“For now, it’s very much business as usual, but we will undertake a strategic review of the business in the near to mid-term, looking at maximizing the existing assets and launching new products, potentially under a new brand,” Shocair said.
