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GRAMMER AG — M&A Activity 2012
Dec 10, 2012
186_rns_2012-12-10_5f60698f-2d88-46bd-a7dc-661022c8496a.html
M&A Activity
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Corporate | 10 December 2012 15:17
Grammer AG signs purchase agreement to acquire headrest manufacturer Nectec
Grammer AG / Key word(s): Acquisition
10.12.2012 / 15:17
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
End of Corporate News
10.12.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
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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 News | DGAP News-Service |
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| 196498 10.12.2012 |