DGAP-News: Grammer AG / Key word(s): Miscellaneous
Grammer taking over joint venture in China in full
15.01.2015 / 09:58
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Grammer taking over joint venture in China in full
Grammer AG acquiring the shares hitherto held by its partner Jiangsu Yuhua
Further expansion of market position in China
Amberg/Jiangyin, January 15, 2015 - The Grammer Group has signed a contract
to fully take over the Grammer Seating (Jiangsu) Co. Ltd. joint venture,
which is domiciled in Jiangyin, China. Under the terms of the contract,
Grammer will be acquiring the 40-percent share hitherto held by joint
venture partner Jiangsu Yuhua, thus becoming the sole shareholder. This
investment marks a further step in the systematic implementation of its
global growth strategy and the enhancement of its position in this
high-growth region.
"Our strategy for the Chinese market has proved itself and, moving forward,
we want to continue outpacing the growth in the commercial vehicle market
in Asia," said Hartmut Müller, Chairman of the Executive Board of Grammer
AG, explaining the transaction. "We are seeing growing demand for
technologically sophisticated seats in China, which we want to address. As
a sole-owner we are now able to react on market and customer potential even
faster and more flexible", he added. Grammer Seating (Jiangsu) Co. Ltd. has
been producing suspended seating systems for trucks in China since 2013.
With more than one million new vehicle each year, China is the world's
largest market for heavy trucks. Grammer wants to broaden its position in
this high-growth region by offering seat models addressing the specific
requirements of this market.
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 (agricultural and
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 20 countries worldwide with a workforce of more
than 10,000 employees across its 30 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
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15.01.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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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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313451 15.01.2015
DGAP-News: Grammer taking over joint venture in China in full
| Source: EQS Group AG