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WTH GmbH in Stade is 25 years old (02)

Euro Introduction was no Problem

(mud) – For most people, the "Euro" did not yet play any role until the beginning of 2002. But CEO Walter Thieme had already been busy with this new "foreign currency" three years earlier. On the occasion of his 25-year company anniversary, he recalled that as of January 1, 1999, WTH GmbH converted the company's accounting from Deutsche Mark to the Euro. There were no problems. Thieme: "Because we were already dealing with other currencies like the US dollar, thus the conversion to the new currency was not a challenge for us."

For the Stader company the Euro was pure "book money". "In financial accounting, only simple figures are booked, which was not a problem, as the values were always calculated at the same fixed exchange rate before the booking."

However, as of January 1, 2002, one of the world's largest economic areas with a common currency has suddenly developed. For 320 million people had the same money in the wallet overnight. And while for the WTH continued business as usual, the new currency bothered many people in Germany.

Especially the 17 million Germans from the former GDR had to adapt themselves. After all, they had already received a new "currency", the D-Mark, a dozen years earlier. And so many East and West Germans were still reckoning the euro prices into DM values and annoyed that much had become more expensive. The emotions occasionally boiled quite high.

However, the business of the company WTH in Stade continued without currency surprises. However, the initial time of the new money was also not without influences.

"The Euro has led to crooked 'unit prices because we wanted to avoid in any case, it was a, price drivers' abuse, but to signal in the good tradition, being "Associate Kaufmann" all our business partners that the Euro only to other numerical values But does not lead to price increases, "Walter Thieme recalls." The business behavior among companies has always been "accurate".

The problems of the conversion or the price smoothing afterwards or the wrong (value) estimation of the cash (for example in the case of tips), which was initially more or less frequent in the retail trade or the gastronomy, did not disturb the business of the company in Stade. "Because we do not do bargains and strictly point our prices properly and commercially rounded to two digits after comma, that was not a topic," summarizes the WTH boss.

The next month, Walter Thieme reports on how he has made his company reachable around the world.