WALTER MEIER AT A GLAncE

Climate teChnology
WALTER MEIER AT A GLAncE
manufaCturing teChnology

Walter Meier is an international climate and manufacturing technology
group. The company was founded in 1937 and today generates
sales of approx. cHF 800 million with around 1700 employees.
Walter Meier sets great store by customer-specific total solutions
and comprehensive support services. Shares in Walter Meier are
listed on the SIX Swiss Exchange (symbol WMn).

“BuILDInG OnE cOMPAny”
Dear Readers,
Walter Meier is growing steadily from a
financially managed holding company into
a strategically focused Group with an integrated
organizational structure. In doing so, we are
focusing consistently on two areas of expertise,
climate and Manufacturing Technologies. Prior
to 2007, the Group had been characterized by a
large number of subsidiaries that were inde-
pendent to a great extent. Today, Walter Meier
offers a uniform, global corporate brand with
only three operating group divisions as well as
specialized corporate centres.
However, with a uniform visual image and the
new corporate structure we have only created
the necessary prerequisites for our strategy. Its
implementation is the responsibility of all of
our approximately 1700 employees who must
now bring it to life. “Building one company” is
the guiding principle for the path we are taking.
To this end, Group Management has formulated
a uniform value proposition for everyone with
whom Walter Meier comes into contact, and it
has also created a corporate culture that
defines the mindset of everyone in our Group
and how we can all work together.
now it’s our turn to put these words into
action – because we have not yet reached the
point where we want to be. It’s the respon-
sibility of all members at management level to
implement our corporate values in their teams.
Every employee should know how he or she can
incorporate our value proposition and corporate
culture into their day-to-day work.
“Walter Meier at a glance” provides a brief
picture of who Walter Meier is and what the
Group stands for. Enjoy reading!
Silvan G.-R. Meier
chief Executive Officer
03

WALTER MEIER IS An
InTERnATIOnAL cLIMATE AnD
MAnuFAcTuRInG TEcHnOLOGy
GROuP
cLIMATE
TEcHnOLOGy
We make perfect indoor climate possible with
the lowest environmental burden.
To achieve this, our offering covers the three
dimensions of indoor climate: temperature,
humidity and fresh air. For energy sources, we
prefer the sun, energy recovery and the Earth.
Installers and exclusive importers are our
distribution partners. We serve residential,
commercial and industrial end users.
upper left:
conventional or renewable energy:
Walter Meier offers service for all technologies.
Lower left:
Precise manufacturing and reduced working
hours thanks to automation solutions.
MAnuFAcTuRInG
TEcHnOLOGy
05
We make precise manufacturing possible with
the minimum use of labor.
Our offering covers the areas of metalworking,
woodworking, material handling, air tools
and hand tools. In addition, we provide custom-
made automation solutions.
Specialty distributors and exclusive importers
are our distribution partners. We focus on end
users in craft and industry.

06
cLIMATE TEcHnOLOGy
MARkETS AnD PRODucTS
In addition to its strong own brands in the
humidification and dehumidification sector,
Walter Meier’s range is rounded off with
third party brands. Walter Meier is represented
through its own sales organizations in
Switzerland and neighboring European countries.
They supply end users in the residential building,
VALuE-ADDED cHAIn
Products
Walter meier
Own brands
Suppliers
Third party
brands
Walter meier
Service
markets
Distribution partners
Distribution through
exclusive importers
Walter meier
Distribution through
installers
construction trades and industrial sectors
through installers. Exclusive importers assume
this role in more than 50 other countries
worldwide. After-sales services are mainly
supplied directly to end users.
Distribution
partners
Installers
end users
Residential
commercial
Industrial

PRODucTS
VS. MARkETS
Walter meier
Own brands
Suppliers
Third party
brands
Walter meier
Service
Humidification
Dehumidification
Heating
Ventilation
cooling
most important own brands: condair, Defensor, nortec, AxAir
Walter meier Distribution partners
Distribution through installers Exclusive importers
Switzerland
Germany France uk Austria Hungary
most important third party brands: Oertli, DeDietrich, carrier, BlueBox, Fujitsu
Installation of a concrete core activation system –
environmentally conscious heating and cooling thanks
to thermally active components.
uSA/
canada china
07
International

08
MAnuFAcTuRInG TEcHnOLOGy
MARkETS AnD PRODucTS
In its core markets, Walter Meier is represented
through its own brands and its own sales
organizations. More than 50 other countries are
supported by exclusive importers. In principle,
end users, whether craftsmen or industrial
companies, are serviced through specialty distrib-
utors. An exception here is business in the Swiss
VALuE-ADDED cHAIn
Products
Walter meier
Own brands
Suppliers
Third party
brands
Walter meier
Service
markets
Distribution partners
Distribution through
exclusive importers
Walter meier
Distribution through
specialty distributors
Walter meier
Direct sales
automated metalworking sector, where
Walter Meier supplies complete manufacturing
solutions consisting of trade products directly
to industrial end users.
Distribution
partners
Installers
end users
craft
Industry

PRODucTS
VS. MARkETS
Walter meier
Own brands
Suppliers
Third party
brands
Walter meier
Service
Metalworking
Woodworking
Material-handling
Air tools
Hand tools
Automated
Metalworking
Miscellaneous
Precision machining of a watch case
on a nakamura cnc lathe.
Walter meier Distribution partners
Direct Distribution through specialty
sales distributors
Switzerland
most important own brands: Jet, Wilton, Powermatic, Promac, Toolcraft
most important third party brands: nakamura, kennametal, Fanuc Robodrill
Exclusive importers
09
Switzerland
Germany France uSA Europe Latin America

10
OuR VALuE PROPOSITIOn
Walter Meier gears its business to the needs
of everyone who has a stake in the company’s
success. Our aim, of course, like every other
company, is to earn as much as possible. However,
our focus is extremely long term, and we know
that we shall only succeed in the distant future
with the help and satisfaction of all those
involved. We have devised a value proposition as
a basis for sustained collaboration with everyone
who has a stake in the company’s success.
EnD uSERS
End users are provided by us with a need-oriented
and user-friendly offering.
DISTRIBuTIOn PARTnERS
Distribution partners are enabled by our products
to achieve a sustainable competitive advantage.

EMPLOyEES
Employees are provided with security, challenging
and fulfilling tasks plus fair compensation.
SuPPLIERS
Suppliers are regarded by us as
long-term partners who can rely on us.
SHAREHOLDERS
11
Shareholders should receive a return that corresponds
to their risk.
THE EnVIROnMEnT AnD
FuTuRE GEnERATIOnS
The environment and future generations benefit from our
commitment to efficient and low-emission technologies.

12
OuR cORPORATE cuLTuRE
no matter where we are doing business and
with whom we are dealing, our global corporate
culture is based on the same principles – in
making decisions, in relations with everyone who
has a stake in the company’s success, in dealing
with each other, in the provision of information
and in communication as well as in assessing
performance. Our corporate culture is based on
the moral values and attitudes that characterize
the behavior of all our staff and consequently
the image of Walter Meier. OPEn-MInDED
We look at everyone and everything in an unbiased
manner, without prejudice. We think globally when
considering business opportunities around the
world. Our innovations are the result of our enthusiasm
for leading-edge concepts and technologies.
DynAMIc
We are quick to act and respond. We do not wait to
be prompted into action by others but instead act on
our own initiative. We do not let bureaucracy slow
us down and instead strive to act in a decisive manner.

cOOPERATIVE
We are unselfish in constantly focusing on the common
interest. We adapt to situations flexibly to improve
our teamwork. We are reliable in keeping our promises.
STRAIGHTFORWARD
We are uncomplicated in our dealings and are
prepared to give honest and straightforward answers.
We are willing to follow the other person's train
of thought so as to make ourselves comprehensible.
Because we are concise, we do not waste time.
RESuLT-ORIEnTED
Because we are focused, we can concentrate on what
is essential. We are tenacious, unyielding and push
forward to our goals. We are satisfied only when our
determination leads to consistently good results.
13

14
GROuP MAnAGEMEnT
Silvan g.-r. meier
chief Executive Officer
Human Resources
Information Technology
corporate communications
Business Development
rudolf Strebel
climate Markets
Switzerland
Germany
France
uk
Austria
Hungary
Jochen nutz
chief Financial Officer
Accounting & Reporting
Planning & controlling
Treasury
Taxes
roberto ettlin
Manufacturing Markets
Switzerland
Germany
France
uSA
Export Europe
Export Latin America
raimund Baumgartner
Products
Engineering – own brands
Assembling/sourcing –
own brands
Facilities Pfäffikon, Hamburg,
Ottawa, Beijing
climate Markets uSA/canada,
china, Export International

kEy FIGuRES 2008
nET SALES cHF 782.7 MILLIOn
EMPLOyEES 1650
net SaleS By region (In cHF MILLIOn)
Climate technology
453.3
29.8
10.8
165.1 247.6
166.7
Climate technology
1190
92
269
Switzerland other europe uSa/Canada other
numBer of emPloyeeS (GROuP MAnAGEMEnT: 33)
manufacturing technology
329.4
Switzerland other europe uSa/Canada China/taiwan
66
763
6.5
manufacturing technology
427
95
180
15
103.4
52.8
133
19

16
MILESTOnES
In OuR HISTORy
1937 1972 1975 1977
1937 Walter Meier begins importing machine tools into
Switzerland and to this end establishes the parent
company of the present-day Group named after him.
1972 The second generation assumes responsibility
for running the company under the management of
Dr. Reto E. Meier.
net sales: cHF 25 million
number of employees: 43
1975 The first acquisition and entry into the air
conditioning market through the purchase of Defensor,
a pioneering company and market leader in air
humidification.
1976 With the establishment of WMH Walter Meier
Holding, Dr. Reto E. Meier lays the foundation for a
long-term strategy of rapid growth and diversification.
1977 Entry into the heating market through the
acquisition of Oertli.
1981 Strengthening of the Group's position as a global
leader in air humidification through the acquisition
of condair and the north American company nortec.
1982 Expansion of the heating business and entry
into the heating-systems distribution market through
the acquisition of Procalor.
1985 Initial public offering with listing on the
Swiss stock exchange.
net sales: cHF 265 million
number of employees: 1506
1988 First step in the expansion of the processing
business outside of Switzerland through the acquisition
of Jet Equipment & Tools, a uS supplier of woodworking
and metal working machines as well as transport and
material-handling equipment.
1990 Acquisition of Vestol and its merger with Procalor
to form Vescal, which subsequently ranks among the
leading providers of heat production and heat supply
systems and components in Switzerland.
1991 Germany's leading air humidification company,
Barth + Stöcklein, is acquired.
1994 Further strengthening of the Swiss climate business
through the acquisition of climatechnique kobra.

1985 1988 2007 2008
1995 Formation of the world-leading air humidifi cation
company through the merger of Defensor, condair,
Barth + Stöcklein and kobra under the name Axair.
1997 Establishment of a branch in Beij ing. Production
of air humidifi cation equipment in china begins.
1999 Strengthening of the American woodworking
business through the acquisition of Powermatic.
2001 The acquisition of Draabe Industrietechnik
in Germany strengthens the global humidifi cation
business for process applications.
2002 Strengthening and expansion of the metalworking
business through the acquisition of Wilton, the leading
supplier of vises in the uSA. Acquisition of the uk-based
refrigeration specialists climate Equipment.
2006 continuity of the Group is ensured when
Silvan G.-R. Meier joins Walter Meier and thus represents
the third generation of family entrepreneurs. At the
same time, it is the starting signal for a strategic
realignment and revitalization.
net sales: cHF 774 million
number of employees: 1800
17
2007 The Group and its business units present a
unifi ed identity under Walter Meier. In parallel with this,
Axair kobra, Vescal and Oertli Service merge to become
the leading Swiss provider in the area of indoor climate.
2008 The Group continues to move closer together with
the creation of the new central areas of Human Resources,
Information Technology and corporate communications.
The acquisition of Tosa with its product brands Promac
and Toolcraft strengthen the product range of
manufacturing technologies and expands the specialty
distributors channels in Switzerland and France. The
global fi nancial crisis reaches the real economy and has
an eff ect on the annual result.
2009 The acquisition of Eichler expands the presence
in the air conditioning market to Austria and Hungary.
creation of a focused organizational structure with
three group divisions, namely climate Markets,
Manufacturing Markets and Products. With Tk 3000.
Walter Meier acquires the leading ventilation hygiene
company in Switzerland, thus complementing its
range of services in climate technology.

18
grouP
Walter meier ltd.
Laubisrütistrasse 24
cH-8712 Stäfa
Switzerland
Phone +41 44 928 15 15
Fax +41 44 928 15 00
group@waltermeier.com
www.waltermeier.com
Climate marKetS manufaCturing marKetS
Walter meier
(Klima Schweiz) ag
Bahnstrasse 24
8603 Schwerzenbach
Switzerland
Phone +41 44 806 41 41
Fax +41 44 806 41 00
ch.klima@waltermeier.com
Walter meier
(Klima Deutschland) gmbh
carl-von-Linde-Strasse 25
85748 Garching-Hochbrück
Germany
Phone +49 89 326 70 0
Fax +49 89 326 70 140
de.klima@waltermeier.com
Walter meier
(Climate uK) ltd.
Highlands Road, Shirley, Solihull
West Midlands B90 4nL
united kingdom
Phone +44 121 705 76 01
Fax +44 121 711 86 30
uk.climate@waltermeier.com
eichler Klima gmbh
Pernerstorfergasse 5
1100 Wien
Austria
Phone +43 1 60 33 111 0
Fax +43 1 60 33 111 399
info@eichler.at
www.eichler.at
Walter meier
eichler hungaria Kft.
(Climat france) SaS
Fehévàri ùt 44
2, rue des Vieilles Vignes 1119 Budapest
croissy Beaubourg
Hungaria
77437 Marne la Vallée cedex 2 Phone +36 1 382 45 80
France
Fax +36 1 382 45 77
Phone +33 1 60 95 89 39 eichler@eichler.hu
Fax +33 1 60 95 89 31 www.eichler.hu
fr.climat@waltermeier.com
ProDuCtS
Walter meier
(Climate international) ltd.
Talstrasse 35–37
8808 Pfäffikon SZ
Switzerland
Phone +41 55 416 61 11
Fax +41 55 416 62 62
international.climate@waltermeier.com
Walter meier
(Climate Canada) ltd.
2740 Fenton Road
Ottawa, Ontario k1T 3T7
canada
Phone +1 613 822 03 35
Fax +1 613 822 79 64
northamerica.climate@waltermeier.com
www.humidity.com
Walter meier
(machining Solutions) ltd.
Bahnstrasse 24
8603 Schwerzenbach
Switzerland
Phone +41 44 806 46 46
Fax +41 44 806 47 47
ch.machining@waltermeier.com
tool ag
Tämperlistrasse 5
8117 Fällanden
Switzerland
Phone +41 44 806 59 59
Fax +41 44 806 59 69
tool@tool-ag.ch
www.tool-ag.ch
tool (france) S.à.r.l.
57, rue du Bois chaland
Z.l. du Bois chaland
c.E. 2935 Lisses
91029 Evry cedex
France
Phone +33 1 69 11 37 37
Fax +33 1 60 86 32 39
www.promac.fr
Walter meier
(Climate uSa) inc.
826 Proctor Avenue
Ogdensburg, new york 13669
uSA
Phone +1 315 425 1255
northamerica.climate@waltermeier.com
Walter meier
Climate (Beijing) ltd.
Building 3, Section c
OPTO Mechatronics Industrial Park
Tong Zhou District
Beijing 101111
P.R. china
Phone +86 10 815 030 08/51/52
Fax +86 10 815 038 70
cn.climate@waltermeier.com
Wmh tool group inc.
2420 Vantage Drive
Elgin, IL 60124
uSA
Phone +1 847 851 10 00
Fax +1 847 851 10 45
wmh@wmhtoolgroup.com
www.wmhtoolgroup.com
Wmh tool group ag
Bahnstrasse 24
8603 Schwerzenbach
Switzerland
Phone +41 44 806 47 48
Fax +41 44 806 47 58
info@wmhtoolgroup.ch
www.wmhtoolgroup.ch
mato CnC-maschinen ag
Auerstrasse 32
9442 Berneck
Switzerland
Phone +41 71 722 99 90
Fax +41 71 722 99 92
info@matoag.ch
www.matoag.ch
Draabe industrietechnik gmbh
Schnackenburgallee 18
22525 Hamburg
Germany
Phone +49 40 85 32 77 0
Fax +49 40 85 32 77 79
draabe@draabe.de
www.draabe.com
axenergy ltd.
Talstrasse 35–37
8808 Pfäffikon SZ
Switzerland
Phone +41 55 416 66 70
Fax +41 55 416 62 62
axenergy_ch@ctfog.com
www.axenergy.com

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Walter Meier AG
Laubisrütistrasse 24, 8712 Stäfa, Switzerland
Phone +41 44 928 15 15, Fax +41 44 928 15 00
group@waltermeier.com, www.waltermeier.com
4 / 2009