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GRAMMER AG — M&A Activity 2012
Dec 17, 2012
186_rns_2012-12-17_d6baa988-d942-4df7-9e76-a068bdd1e58a.html
M&A Activity
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Ad-hoc | 17 December 2012 17:16
Grammer AG and Yuhua establish joint venture for truck seats in China
Grammer AG / Key word(s): Joint Venture
17.12.2012 17:16
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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Ad hoc announcement pursuant to section 15 WpHG
GRAMMER AG (WKN 589540, ISIN DE0005895403)
Grammer AG and Yuhua establish joint venture for truck seats in China
Amberg, December 17, 2012 - Grammer AG and Jiangsu Yuhua Automobile Parts
Co. Ltd., a well-established Chinese supplier of components and systems for
commercial vehicles and passenger cars, earlier today signed an agreement
to establish a joint venture for the production and distribution of truck
and bus seats in China. 60% of the new joint corporation Grammer Seating
(Jiangsu) Co. Ltd., located in Jiangyin, China will be held by Grammer AG.
Yuhua has a 40% stake.
The new joint venture offers Grammer a quick and long-lasting entry in the
world biggest market for commercial vehicles and is therefore another
important milestone of Grammer's growth strategy.
Yuhua provides a new manufacturing location and will, among other things,
also bring its existing truck-seat business and a well-established customer
base into the joint venture. Together with its partner Yuhua, Grammer now
is able to produce market-specific seat-types locally and distribute them
to local and international customers.
GRAMMER AG
Executive Board
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
17.12.2012 DGAP's Distribution Services include Regulatory Announcements,
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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: [email protected]
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 Announcement DGAP News-Service