DGAP-News: Grammer AG / Key word(s): Acquisition
Grammer acquires specialist in electronic control elements
27.07.2011 / 08:03
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Grammer acquires specialist in electronic control elements
Transaction strengthens technological competence
Reinforcement of leadership in seating systems innovation
Amberg, July 27, 2011 - Grammer AG, leading supplier of automotive
interiors and seating systems, has acquired 100% of equity in Belgian
electronics specialist EiA Electronics N.V., Aartselaar, Belgium. With the
purchase, Grammer is expanding its technological competence in the area of
electronics. EiA Electronics specializes in development, integration and
distribution of electronic components, with a focus on multi-functional
armrests for commercial vehicles. The company's product range includes
displays, consoles, controllers, communication modules and sensors. Through
integration of high-tech electronics into its seating product portfolio,
Grammer continues to expand its value chain and enhance the quality of its
development of driver seats for commercial vehicles.
'With the acquisition of EiA Electronics, we are expanding our
technological basis,' says Hartmut Müller, CEO of Grammer AG. 'This is
targeted investment in our innovation leadership. Through the combination
of electronic and ergonomic components, a leading seating supplier will be
in a position for the first time to offer its customers driver seats with
integrated control elements as a complete system.'
The acquisition of EiA Electronics is a further part of Grammer's declared
strategy of expansion along the value chain. This makes sense given that
agricultural and construction machinery customers are already using EiA
technologies as separate components with selected Grammer products. Over
the coming months, Grammer plans to integrate EiA Electronics features into
existing products.
'Being part of an international group like Grammer gives us the opportunity
to considerably expand our customer base,' says Michel Nédée, Managing
Director of EiA Electronics. 'Future cooperation in research and
development will also allow us to contribute our expertise in other product
groups.'
EiA Electronics has roughly 50 employees and generated revenue of
approximately EUR 20 million in 2010. The company will remain as a brand
within Grammer Group. Grammer paid EUR 10.5 million for the acquisition of
EiA Electronics, financed by proceeds from the capital increase by Grammer
AG in April of this year.
EiA Electronics
EiA Electronics NV, based in Aartselaar, Belgium, is partner for the
development and supply of customized solutions for off-highway vehicles.
This high tech electronics company provides displays, controllers,
consoles, handles, communication Modules and intelligent sensors already
for more than 20 years now. An experienced team of specialists services
OEM-customers all over the world.
Grammer AG
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,
center console systems and integrated child safety seats to premium
automakers and automotive system suppliers. Grammer is represented in 17
countries worldwide with a workforce of approx. 8,000 employees across its
23 fully consolidated subsidiaries. Grammer shares are listed in the S-DAX
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.
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
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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133324 27.07.2011
DGAP-News: Grammer acquires specialist in electronic control elements
| Source: EQS Group AG