Energy is here

“A clear vision ‘100 % renewable energy’, paired with 200 % commitment.”

“A company with and for the future”

Special edition

15 years of juwi

01) juwi 15 years ago: Fred Jung and Matthias Willenbacher establish the Jung & Willenbacher Windenergie Gmbh. They work in their appartements.

02) juwi today: The Executive Board with COO Jochen Magerfleisch (l.). Responsible for more than 1,300 employees with a revenue that will exceed a billion for the first time.

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Dear juwis, dear readers, Editorial

Imprint

Published by: juwi Holding AG, Energie-Allee 1, 55286 Wörrstadt, Germany Editors: Christian Hinsch (v.i.S.d.P.), Katharina Buss, Benedikt Brüne, Stephan Brust, Hasret Gülmez, Ralf Heidenreich, Iwona Kallok Concept and design: kleiner und bold GmbH, Berlin Printed by: odd GmbH & Co. KG Print + Medien, Bad Kreuznach, © 06/2011

For 15 years, juwi has been shaping the energy revolution – together with

many cooperation partners and backed by plenty of passion. Taking a

look back proves it: We have achieved a great deal. In this special issue,

we would like to draw up an exciting story that extends from the very

first days in 1996 all the way into the distant future. We will take a look

back in time to when Fred Jung and Matthias Willenbacher met over a

bowl of potato soup. We will shed some light on the present, in which our

company is growing rapidly – something we never could have imagined

15 years ago. And we will dare to take a glimpse:

How will juwi’s world look in the future?

Enjoy reading!

Your Corporate Communications team

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“I am ‘ju’ and You are ‘wi’”

TopStory

15 years ago, the joint path of Fred Jung and Matthias W illenbacher began – while having potato soup.By Ralf Heidenreich

age, come from the same area and have the same idea at the

same time – all just coincidence?

In rapid succession

In 1995, in July, Fred met another person who was to decisively

influence his life – his wife Claudia. Things then happened in

rapid succession. In March 1996, the potato soup, in September

Fred was engaged to Claudia, in May the meeting in Matthias’

student apartment in Mainz (with his parents’ old living room

couch and a table made by his father) and the founding of juwi

– by shaking hands on it. “What do we call ourselves? Let’s

see: I am ju and You are wi - juwi”. On December 4, 1996, the

notarized contract was at last signed in Kirchheimbolanden.

Both quickly understood that the juwi GmbH can’t just be run

on the side. Particularly since they both had to do everything

themselves for the projects – from searching for the location up

to starting operations. They even brought in the gravel for the

Leeks, carrots, parsley, potatoes – all ingredients are ready

in the “kitchen” that juwitality has arranged on the balcony at

company headquarters. Matthias peels potatoes and explains

in the strongest regional Pfalz dialect how Schdambers

(mashed potatoes) are prepared. Fred, cutting carrots, laughs

loudly, the way only he can laugh. They are preparing the meal

that, almost exactly 15 years ago, sort of brought them together

at the table: potato soup.

Much has changed since juwi’s birth. Back then – Fred was 25,

Matthias 26 – the two farmers’ sons sat in the kitchen of the

Jung family’s farm, the brick cottage, ate their soup and got to

know each other. Today, they are standing on the balcony of

the executive floor in Wörrstadt. The gaze lingers across the

headquarters, where employees enjoy the wonderful sun on

the terrace during their lunch break, and where a third set of

buildings is about to sprout. All just the result of coincidence?

Could things have turned out differently?

On the same wavelength

Fred already had an offer for founding a wind project company

with a partner – before he met Matthias for the first time. But

he declined. With Matthias it was different: pull up the sleeves,

help each other, be there for each other – Fred felt right away

“that we are on the same wavelength” (see sidebar).

1995 and 1996 were the decisive years in the life of the two

business partners. A torn ligament and subsequent inflam­

mation of the wound confined the physics and sports student

Matthias Willenbacher to a hospital bed in July 1995; there he

read in a newspaper article about a wind project in the Eifel

and was infected by renewable energy. “It clicked ...” The

agricultural economist Fred Jung had also been infected: He

was fascinated by the idea of producing clean electric power

by using the wind that swept the fields day in and day out.

When Matthias didn’t quite succeed with his wind measure­

ments, someone advised him to call a certain Fred Jung, that

guy was doing just what he did. What followed was the potato

soup in question. Two farmers’ sons who are almost the same

The first impression: “Honest, spontaneous, without tricks”

Fred, how do you remember the first meeting

with Matthias?

Fred: “I quickly noticed that we are on the same wave­

length. Two can achieve more than one, lone warrior

doesn’t suit us. Matthias was open, uncomplicated,

clear and didn’t beat around the bush.”

Matthias, what did you feel back then?

Matthias: “Fred received me with open arms.

He was honest, without tricks, spontaneous and

approached things positively – and he invited me

to dinner right away. He scored with that.”

The big growth: “The juwis are our biggest stock”

Matthias, doesn’t juwi’s rapid growth sometimes

make you dizzy?

Matthias: “We both have our roots in agriculture.

That helps us stay grounded. We grow organically,

without large acquisitions, and invest only in

employees and materials.”

What importance do the employees have for the

company?

Fred: “The employees are our most important stock.

The right people in the right positions, who, despite

all growth and all change, share the philosophy of

juwi, the fundamentals, our drive, and thus safeguard

it. That is our success.”

How do you manage, in view of the growth, to keep

the company in balance?

Fred: We have a solid equity­to­assets ratio of

30 percent and don’t waste money like some compa­

nies listed on the stock exchange. We make sure that

the structures are right and keep up with the growth.”

Matthias: “That’s why we asked Jochen to become

a COO, and we will soon have a fourth COO, as well.”

access route themselves. “We had to stand in front on top of the

tractor so that it could handle the load,” Matthias remembers a

project where he also organized students to help install cables.

They had to make a decision. But Matthias was in the middle of

his doctoral dissertation . The last straw was a computer virus

and a defective backup disk. His ambitions for graduation evapo­

rated along with the data for his doctoral dissertation. The path

for 100 percent juwi was clear. Just a coincidence?

Passing the ball

Today, nobody can say exactly who really was the initiator. Fred

scratches his head: “I don’t know, we just passed the ball, one

matched the next one, each reacted to the other one.” Spontane­

ous and direct – just the way the two still work today. Some are

astonished that two such “different” people can run a company

for such a long time so harmoniously, committed to each other,

and in the final analysis, also so successfully. Sure, the differ­

ences are obvious. While juwi is Matthias’ life, Fred centers

his life around other things: his family and his strong faith.

Fred reads the Bible every morning and takes a verse with him

for the day. He did that, too, before the first large juwi project,

when after a sleepless night he read the following verse when

he first opened his Bible: “For lo, the one who forms the moun­

tains, creates the wind, reveals his thoughts to mortals” (Amos

4:13). “That’s when I not only understood that this project would

be a success, but also that God is always on my side, supports

me and shares responsibility with me.” And just as he begins to

talk about his family and his five children, his sons Danilo

(2 years old) and Ben-David (5) and his daughter Sophia (8)

come onto the terrace. The eyes sparkle, the smile becomes

even wider – for all four of them.

The connections are deeper

Fred and Matthias dismiss the children with a slapped “give me

five”, laugh and smirk. Then Matthias stops briefly, becomes

serious. “Everything changed for me the moment we founded

juwi. I became an entrepreneur with all my heart and soul,

around the clock, seven days a week. It’s not a job for me, but

“When there were differences, we have always come to an agreement so far, and that very quickly.”Fred Jung

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a calling, so little time remains for other pursuits. But on the

other hand, this also allows me more time to initiate things and

move them forward. That’s why it sometimes seems that I’m the

one who advances.” Matthias the progressive, Fred the con­

servative? Fred shakes his head. “While Matthias frequently

follows the direct path, I sometimes look a little more to the left

and right, but we basically have the same direction, the same

goal and also the same tolerance for risk. But if people perceive

us as being different, that is good for our company.” juwi

wouldn’t be juwi, if the two weren’t advancing together. No, the

differences are only a small, striking part of the companionship.

The connections are significantly bigger – and deeper.

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Tolerance and a big heart

When Fred and Matthias talk about what makes a good entre­

preneur, the same terms keep arising, as if they are speaking

with one voice: honesty, trust, spontaneity, perseverance, will,

optimism, passion, openness, solidarity, cooperation, readiness

to help others, courage, looking at the big picture, willingness

to roll up the sleeves and ability to achieve consensus. Fred

and Matthias always having the same opinion? “No, of course

not. But when there are differences, we have always come to

an agreement so far, and that very quickly”, Fred emphasizes

and Matthias agrees: “That will continue in the future, too;

we always find a solution we can agree upon.” What is the

secret? “Tolerance and a big heart, that you say “yes” to the

other person, give him freedom in those areas that are very

important to him,” both fire off.

An important basis for their ability to achieve consensus is

what drives both of them. Matthias, with a firm gaze:

“Of course, we must manage successfully, but making money

is not the focus; not whether juwi becomes the market leader,

either. We want to move something, point the way, offer people

something. Energy must be clean, but also socially just.” And

Fred adds, calmly, but with a pervasive voice: “We don’t grow

for growth’s sake. We do it so that the turnaround in energy is

accomplished as quickly as possible, because that is better for

people. We don’t pretend that juwi must grow that much.

There are many situations where we even slow down our

own directors.”

Independence is the key

juwi’s growth is healthy, the two CEOs explicitly emphasize

(see sidebar). Renewable energy is only at the very beginning

“Everything changed for me the moment we founded juwi. I became an entre-preneur with all my heart and soul.”Matthias Willenbacher

of a big development. “The potential is huge, global. The oppor­

tunities for projects exist, even if there are sometimes shifts

when looking at specific countries. And if more difficult times

come, we will surmount them, too, because juwi enjoys a very

good reputation and we are networked very well – with the

authorities, banks, investors, politicians and procurement,”

Fred knows. And something else marks juwi. Something that

will let the company weather any storm, that’s the strong

conviction of both: independence. “We are an independent

family­owned business and will remain so. Period!” They say

– and finish their soup. They took two and half hours of their

time. They decide what’s important. And they decide, what’s

happening with juwi. They won’t let anyone spoil the broth

here, no one.

In the last 15 years juwi welcomed a great number of prominent guests. Some of them found time to write down their thoughts and wishes for juwi’s 15th anniversary:

1) For me, juwi is ... 2) Here’s what I wish juwi in the next 15 years ...

Hans-Dieter Kettwig, managing director, Enercon GmbH

1) A company that, with more than 358 megawatts that we have installed together,

is one of our largest customers. We congratulate Mr. Willenbacher and Mr. Jung,

their families, as well as the entire team, on their anniversary! With the slogan

“An idea prevails”, Enercon has now for 15 years successfully worked with juwi

on wind farm projects around the globe. During this time, we have come to know and

appreciate the entrepreneurs as “lone warriors”, and also as an efficient company

that is a reliable and skilled partner. Cooperation is characterized by short com­

munication and decision­making paths, a high degree of professionalism and mutual

trust. juwi implements even demanding orders in their usual top quality with short

project cycles.

2) We are happy that juwi decided, in the context of a multi­year framework agree­

ment, to use us as their main supplier for global projects for the coming years, as well.

We are honored by this trust and look forward to continuing and expanding this tried

and true cooperation in the coming years.

Kurt Beck, governor of Rhineland-Palatine

1) Young, environmentally friendly, economical, innovative. In the true meaning of the

word, a young company that carries out modern corporate policy with vision, courage

and will, and whose mission is geared towards sustainable living.

2) Continuing economic success and growth. In addition, lots of sun, sufficient wind,

and highly satisfied employees, whose strong dedication and innovative ideas con­

tribute to leading our country into a future without nuclear power.

Jörg Mayer, managing director, Bundesverband Solarwirtschaft

[German Solar Industry Association], BSW

1) A consistently lived 100 percent philosophy of renewable energy. Not only as a

non-binding political vision, the way it is much talked about, but with specific

business models that already work nowadays.

2) Don’t let your ideas, pressure and fast growth fade away!

Udo Bölts, former competitive cyclist

and ambassador of 100% foundation

1) A company with and for the future!

2) That juwi can achieve its goals for

humanity and in harmony with nature.

Jean-Pierre Rummens, chairman “Feed the Hungry e.V.”

1) A reliable partner with a big heart. Whether the tsunami in South East Asia,

the tsunami in the Philippines or the earthquake in Haiti, the water treatment after

the floods in Pakistan or now in Japan, juwi helps. I was personally in all these places

and can therefore guarantee that people have been saved by this great support.

They have new life force. Therefore: A heartfelt thanks from “Feed the Hungry” and

me and on behalf of thousands of people from many parts of the world.

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Jürgen Trittin, chairman of the parliamentary group Bündnis 90/DIE GRÜNEN

1) Creativity, commitment and innovative projects such as the wind farm

Lettweiler Höhe or the solar park Lieberose on a former military area.

2) The necessary energy transition with an accelerated development of renewable

energies means a lot of work for juwi. Therefore, juwi should maintain its commitment

and job satisfaction.

Uwe Abel, chairman of the board, Mainzer Volksbank eG

1) Successfully making a vision come true in reality. juwi has been demonstrating

this with their founders, Fred Jung and Matthias Willenbacher, for 15 years now.

The company has, along with its partners, effectively invested in wind farms, solar

and biogas facilities domestically and internationally. juwi acts as a regional company

that responsibly secures business locations and acts with much commitment in the

region, while at the same time being a global player whose systems help protect the

environment worldwide. The large project of the community solar facility on the roof

of the new Coface arena, which the Mainzer Volksbank eG – as an example of one of

many projects – could work on as a partner, offered all residents in Mainz and its sur­

rounding area the possibility of becoming solar citizens, even without their own roof.

2) That the enthusiasm for implementing ideas, supported by expertise and intelligent

corporate decisions, continues to be the motor for tying in with extraordinary success

in the future, as well. We are looking forward to many years of amicable and con­

structive cooperation as partners, with the goal of actively accompanying the vision

“100 percent renewable energy is possible”!

Stephan Hansen, managing director First Solar GmbH

1) A clear vision “100 percent renewable energy”, paired with 200 percent commit­

ment. In doing so, juwi superbly manages to combine a high degree of skill and

professionalism with social and emotional dedication, even during a period of huge

growth. This is shown externally by things such as the “Great Place to Work Award”,

but even more so, it is felt in each visit and meeting.

2) I wish juwi continuing success while consistently following their vision and

implementing the many small and large steps towards it. Some joint projects,

such as Brandis or Lieberose, have certainly been a lighthouse along this path,

and I hope for many more such great joint projects and adventures.

Johann Lafer, TV chef

1) For 15 years, juwi has worked for renewable energies and supported companies and

communities in using new technological potential profitably. With the highest degree

of expertise and high ideals, juwi has since worked tirelessly to achieve broad­based

use of renewable energies. In the future, use of these alternative energies in all areas

will be critical for the general economic situation.

2) Continue the great success and many innovative ideas, from which we will all

profit, in the future.

01 – 03) From the beginning, juwi was set up in two locations: in Mainz and in Bolanden, where the Service & Technik GmbH initially started operations and was later joined by the Solar sector. In 2003, the 70 employees found a new home in the first “juwi building” in Bolanden (1) and in larger offices in Mainz's city center (2). Here, too, space quickly became tight – some employees worked in the hallways – and an end to the rapid growth was not in sight. That is one of the reasons why juwi combined both locations in the summer of 2008 and, with about 300 employees, moved into a new headquarters in Wörrstadt (3); that headquarters is a model property in terms of energy efficiency. Over the next few years, the headquarters were expanded, currently offering room for more than 700 employees.

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04) Beer tent and sausage stand. Nature and technology. Adventure and fun for big and small. juwi’s wind festivals were an event for the entire family right from the start. In 1997, in Ilbesheim, there were only a few visitors, years later in Morbach there were quite a few more.

05) juwi has grown – and the wind festivals have become larger, too. A highlight was the opening of the wind farm and high ropes course in April 2011 with almost 5,000 visitors in Wörrstadt. They got to experience the topic wind energy up close – with visits to wind power stations, first-hand information and a varied program. Next door, the climbing park, framed by ten mighty Enercon wind turbines, lured the  visitors.

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06 – 10) Pulling together and celebrating together – that, too, is good team work. And juwi’s “company picnics” are legend­ary. In 2003, many joined us as we went to Berlin – and took the juwi banner (6) along. During a weekend a year later, juwis proved their skill and dexterity while climbing (7). For years, the annual ski trip “Ex & Hopp” in Austria has been a highlight (8). Anniversa­ries are celebrated together – such as the 2006 celebration of ten years with a ship tour on the Rhine (9). Friends and family members frequently join us (10).

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11) In 2001, the Nordex N-60, with a hub height of 69 meters and a rotor diameter of 60 meters, was constructed at the wind loca­tion in Kerzenheim in the Donnersberg district of Rhineland Palatine. The photo shows the delivery of the gondola, which is significantly smaller than the current systems.

12) In 2002, construction started at the energy landscape of Morbach, which was officially opened in 2003. The energy land­scape is one example of the implementation of the juwi strategy: an economical mix of renewable energies that offers independence to a community and has paved the way for a huge amount of value creation in the region. The photo shows the development of the photovoltaic free-field system in 2002. Back then, the PV modules were installed on wooden frames. Since then, 1.07 MW supply around 1.05 million people with clean solar power each year.

13) In 2005, Lars Falck, managing director of juwi Solar GmbH, still presented solar modules from various manufactures himself at the company site in Mainz. Today, the Solar GmbH has around 600 employees worldwide.

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The juwi world was, of course, very different back then. “We

were working primarily from Matthias’s house”, she remem­

bers, and adds laughingly: “We all shared one desk.” In other

words: “Right from the start, I really was used to things being a

little tighter at juwi and to have to improvise at times.” In addi­

tion to Matthias and Fred, a few weeks later three other col­

leagues handled acquisitions, implementation and the “service

and technology” sector. Anja Herzbach took care of “all the

“We shared a desk”

Retrospect

rest”: from operator management to bookkeeping and finance

up to human resources. “Much, of course, was still played by

ear.” One thing seemed clear from the start: “ Matthias and

Fred always highlighted that there is only one direction for

juwi to go: forward,” she says. In that respect, they always

believed strongly in the development that is happening now.

“Today, I am approached by many from the outside, and most

are kind of jealous.” What has been accomplished during the

last few years is “really unique” – of course, combined with

much dedication and a fast pace on the part of all employees.

In 2002, Anja Herzbach started working more in­depth on the

planning of foreign wind energy systems (mainly in France and

the Czech Republic).

“Wow, where are all these people coming from?”

The growth of the company first sank in at the Christmas party

in 2006, one year after her son Gustav was born. “I stood

around at the party and only thought: Wow, where are all these

people coming from?” She smiles, because it was her dream,

just as it was that of Matthias and Fred: to develop juwi into

a large company. And in addition, it is also thrilling to meet

so many new and different people. “Personal contact is very

important to me anyway,” she emphasizes. “ I’d rather use the

telephone than write an e­mail.”

She knows: at juwi, everyone is very dedicated. Even beyond

regular working hours. But what she appreciates at the same

time is the flexibility. Currently, she works two fixed days per

week in the wind energy sector on the “implementation” team,

but, depending on the state of the project or team coverage,

she may come into the office more frequently. “I feel very

comfortable and now again must handle many different areas

in my team.” Then she laughs and adds: “So again it’s a little

like it was twelve years ago.”

One look, a decision. It was 1999 when Anja Herzbach discovered juwi’s first help wanted ad. “I read the ad and knew immediately: I want to have that job.” She convinced us and was hired – as the first permanent employee.

“Which country was that again where the power supply was

covered 100% by renewable sources?” Hakan Kurnaz sits in

the juwi cafeteria in Wörrstadt and looks inquiringly up to

the ceiling. “Iceland, wasn’t it? I would like to vacation there

some day.” The energy source to which he owes his job shines

through the solar glass facade and warms the 30­year­old’s

back. The expert in photovoltaics, with the short, dark hair

and lively eyes, chats about everything under the sun, includ­

ing energy. He hopes that the 100­percent idea – similar to the

island in the Atlantic – sets a precedent everywhere, and even

faster than it has done so far.

In November 2010, the electrician was hired for the photovol­

taic roof systems sector as the 1,000th employee of juwi Group.

His career represents the typical professional flexibility that

characterizes so many juwis today – both new hires and long­

time employees. “I had to work full on right from the start”,

Hakan remembers his beginning at juwi. “As many systems

as possible had to be connected to the net by the target date,

December 31, 2010.” But he only worked as an installer for two

weeks. While constructing a 500 kW roof system in Rheinau

near Kehl in Baden, he already supported his colleague Dirk

Zell in the latter’s work as site manager by coordinating the

sub­contractors.

“My Role Model is Iceland”

Outlook

In early December, he then switched to the sector for which he

had originally applied: Quality Control and Service. And since the

department was restructured in early May, Hakan has already

filled four jobs at juwi within a very short period of time. “At juwi,

everything is growing fast, you notice that in every sector,” Hakan

knows. He feels that he is in good hands in his current job: “While

setting up nationwide process optimization, I can make a differ­

ence.” juwi Solar already leads in terms of quality standards, but

still wants to leave the competition behind even further.

“I want to continue to grow with juwi,” Hakan looks to the

future. The company is on a very good path, he says. “Every­

thing that’s good for the environment is practiced here.” Expan­

sion of renewable energies must continue, particularly after the

horrible events in Japan, according to Hakan. “Why do people

take such great risks?” he asks. “For the supply of power, but

you can do that differently, too.” Best example: Iceland. It’s a

small country, but the 320,000 inhabitants of the island produce

and use the energy that exists there: three quarters of it come

from hydro power, and a quarter comes from geothermal pro­

cesses; the energy is therefore completely renewable. “That

country should be used as a role model,” Hakan emphasizes.

In November 2010, Hakan Kurnaz signed on with juwi as its 1,000th

employee. His career serves as an example for the flexibility with

which juwis work for the big goal of a turnaround in energy production.

It’s one of these days that have become rare in Rheinhessen.

A strong, steady rain lessens the summer heat that has blan­

keted the undulating hills for weeks. “When was the last time

this happened?” the old man with the short light brown hair

and the freckled face asks. “I don’t know”, his companion on

this stroll in July answers. Rain has straightened his gray, wavy

hair. The water rolls down his cane – the cane a tribute to too

much love of sports over the last fifty years.

The last summer rain happened, in fact, years ago. Earth

has warmed up, more so than many experts feared so many,

many years ago. Climate zones have moved, and the weather

in Germany has also changed dramatically. For years , many

dry summer days have characterized the months from March

through October, precipitation has become rare. “My grand­

children have never seen snow,” the man with the freckles

says, deep in thought and looking wistfully. Which is strange,

because by now he has almost 20 grandchildren.

The gray­haired man lifts his cane and points north. “Good

that we converted to renewable energies and new substrata

even back then.” In the north, thousands of solar panels shine

in the rain, vegetables prosper despite the drought. This is not

a unique case in Germany, because the country has systemati­

cally committed to solar and wind energy, to biomass and

saving energy – one of the lessons learned from the nuclear

disaster in Japan in 2011. “If I remember correctly, that was

Wood as far as the Eye Can Reach

Gloss

the turning point. Do you remember?” Meanwhile, the rain has

plastered a gray strand of hair on his forehead.

That was the turning point, but it came too late to halt climate

change completely. But the new energy policies at least slowed

it down. And they revolutionized the energy system. No huge

corporation dictates prices for electricity today; hardly anyone

still relies on oil and gas from the Arab regions in crisis. As if

it were proof, the wind turbine at the edge of the path acceler­

ates in the breeze that’s coming up. At a height of almost

250 meters, it is one of the largest in the world, producing

almost 40 million kilowatt hours per year. On the other side of

the path, wooden buildings stretch as far as the eye can see.

“Come on, let’s drop in there again,” the man with the freckles

suggests. “Maybe Jochen is also in the building.”

Jochen is there. He is sitting on the roof terrace and discuss­

ing the newly opened branches in New Zealand, Iceland and

Vietnam with colleagues. He seems relaxed, but still wide

awake at age 70. As he is almost always since switching to the

board of directors ten years ago. The international edition of

Spiegel magazine is on the table. Spiegel is one of the few news

magazines that still publish a print edition nowadays.

The two­page spread that’s open shows three middle­aged

men, two with fuchsia ties, one with a bright orange one, all

of which sport the number “100%”. The caption reads: “CEOs

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The world has changed. And a lot has happened at juwi … By Christian Hinsch

of juwi group playing soccer at the fringes of the company’s

fifteenth anniversary in September, 2011.” One of the men has

freckles. It is one of these features about the days when energy

policy in Germany changed.

The women and men around the table are silent. Not many,

but some, can remember the photo and the anniversary. They

think back to the time when the company had just hired its

1,000th employee – today it’s almost ten times as many. Voices

come into the room from the outside and interrupt the silence.

“I’m coming.” Hearty laughter erupts, the door opens. “Hi Fred,

hi Matthias, welcome!” echoes through the room. A breeze

catches hold of the magazine pages and closes the two­page

spread. The title says: Special edition, July 3, 2030.

15Energie­Allee 1

55286 Wörrstadt, Germany

Tel. +49. (0)6732. 96 57-0

Fax. +49. (0)6732. 96 57-7001

info@juwi.de

www.juwi.comjuwi Holding AG