| Top 50 Ranking of German Firms in the US has new Number One: T-Mobile USA | |
| New York, April 27, 2010 – The latest Top 50 Ranking of German Firms in the U.S. conducted by the German American Chambers of Commerce based on the 2009 annual sales figures, demonstrates the robust condition of German firms in the U.S. – despite the recession and financial crisis. The total revenues of the Top 50 fell by only 7.5% from $275 to $255 billion in comparison to last year’s ranking. 32 of the 50 firms reported mostly modest losses. 18 companies even showed increased sales numbers.
T-Mobile USA pushed Siemens USA from last year’s first place to become the new number one, although Siemens remains the biggest German employer having created 64,000 jobs. Robert Dotson, CEO of T-Mobile USA for the last 6 years, traces this success back to his company’s innovative products and pricing models: “While the recession has changed the spending habits for many consumers, we are extremely bullish on the opportunity to offer innovative products and data services (…).” The relatively low decrease in the overall volume of sales of the Top 50 is contrasted with the number of job cuts over the same period. The Top 50 German firms decreased their work force by 14% to 412,000, down from 480,000. The automotive sector and steel industry were hardest hit. |
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Top50Ranking2009_GATMayJune2010.pdf