Porsche Subsidiary Enjoys Ten Years of Growth

STUTTGART/FREIBERG – February 27, 2009: a N. Dr. Ing. h.c. F. Porsche AG, Stuttgart, and the management and IT consulting company Mieschke Hofmann and Partner (MHP), located in Freiberg am Neckar, Germany, have given an extremely positive summary of their ten-year partnership. “Currently, MHP is the fastest growing Porsche subsidiary and has evolved into the leading process and IT consulting company in the German automobile industry. More than 200 customers from the automobile industry and other branches of business are meanwhile benefiting from MHP's expertise,” says Chairman of the Board of Porsche AG, Dr. Wendelin Wiedeking.

In 1999, Porsche acquired shares in MHP at an initial 49 percent. This guaranteed the sports car manufacturer comprehensive consulting expertise in the process and IT fields. After increasing to 51 percent in 2002, Porsche’s shares have remained constant at 74.8 percent since 2003. “The development of Porsche’s commitment confirms that MHP is on the right path toward a successful future both strategically as well as operationally,” says MHP Managing Director Dr. Ralf Hofmann. The company has increased its sales in the fiscal year 2007/08 by 38 percent, rising to EUR 68.6 million.

The 475 MHP employees offer their customers a comprehensive package of consulting services, including planning, implementing, and operating IT solutions. In addition to its headquarters in Freiberg, MHP has offices in Wolfsburg, Essen, Ludwigsburg, Munich and Zurich.