In late 1998, in line with long-standing plans and as the founder and owner of Putzmeister up until the present time, I brought all shares into two foundations, KSG (Karl Schlecht gemeinnützige Stiftung) and KSF (Karl Schlecht Familienstiftung) foundations. They are both largely for public benefit, as a contribution to sustained continuity of the meanwhile globally successful family of companies.
Following legal rules and to ensure full benefit to the public of the KSG which holds 99% of the shares, the PM Group was supplemented by founding the PM Holding GmbH (PMH). It owns all of the Putzmeister group shares and forms to 99% part of the public benefit KSG foundation– which holds a mere 10% of the PMH votes. The entrepreneurially decisive majority with 90% of the vote is with the KSF family foundation, holding only 1% of the PMH shares, though.
At the end of January 2012 the Karl Schlecht Foundation (KSG) sold the Putzmeister Holding sahres to the Chinese construction machine manufacturer Sany Heavy Ind. Co. Ltd. The proceeds of this mergers completely went into the KSG.
Against this financial background the KSG under the guidance of Karl Schlecht is able to assume social responsiblity even more by sponsoring a variety of projects in the fields of science, research, education, culture and environmental protection.