DGAP-News: Grammer AG / Key word(s): Acquisition
Grammer AG signs purchase agreement to acquire headrest manufacturer
Nectec
10.12.2012 / 15:17
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Grammer AG signs purchase agreement to acquire headrest manufacturer Nectec
Takeover to strengthen market position in Europe and China
Expansion of Grammer's product and technology range
Amberg, December 10, 2012 - Grammer AG, leading supplier of automotive
interior components and seating systems, earlier today signed a purchase
agreement for the takeover of Nectec Automotive s.r.o., under which Grammer
will acquire 100% of share capital in Nectec s.r.o. from Fehrer-Group.
Nectec develops and produces headrests mainly for the premium car segment.
The company has been founded in 2008 by Fehrer Group and could establish
itself as one of Europe's leading suppliers of headrests systems within a
few years only. The headquarters of Nectec and its production facilities
are located in Ceska Lipa / Czech Republic. Nectec has roughly 240
employees and generated revenue of more than EUR 30 million in fiscal year
2011.
'Nectec's product range and production location make it an ideal fit with
our existing structure. This takeover further expands our strongest
revenue-generating segment and reinforces our position in Europe's headrest
market,' says Hartmut Müller, CEO of Grammer AG. At the same time, the
integration of Nectec strengthens Grammer's competence in the area of
headrest technologies, resulting in an even larger spectrum of innovative
products.
With the transaction, Grammer also acquires the 50% stake held by Nectec
s.r.o. in a joint venture with Chinese automotive supplier NingBo Jifeng -
another step forward for the Grammer growth strategy in this important
region. The deal improves the strategic access to both international and
local automakers in China.
The parties have agreed to keep details of the price confidential. The
transaction is still pending approval by the antitrust authorities and by
the approval of the financing banks of Fehrer-Group.
Company Profile
Grammer AG, Amberg, Germany, is specialized in the development and
production of components and systems for automotive interiors as well as
driver and passenger seats for offroad vehicles (tractors, construction
machinery, forklifts), trucks, buses and trains. Our Seating Systems
division comprises the truck and offroad seat segments as well as train and
bus seating. In the Automotive division, we supply headrests, armrests and
center console systems to premium automakers and automotive system
suppliers.
Grammer is represented in 18 countries worldwide with a workforce of
approx. 9,000 employees across its 24 fully consolidated subsidiaries.
Grammer shares are listed in the SDAX segment of the German Stock Exchange,
and are traded on the Munich and Frankfurt stock exchanges, via the Xetra
electronic trading platform and on the OTC markets of the Stuttgart, Berlin
and Hamburg stock exchanges
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
investor-relations@grammer.com
End of Corporate News
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Language: English
Company: Grammer AG
Postfach 14 54
92204 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: investor-relations@grammer.com
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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196498 10.12.2012
DGAP-News: Grammer AG signs purchase agreement to acquire headrest manufacturer Nectec
| Source: EQS Group AG