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GRAMMER AG — M&A Activity 2012
Dec 10, 2012
186_rns_2012-12-10_5c94656a-ab4f-4485-81b0-a05f85f9c9a2.html
M&A Activity
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Ad-hoc | 10 December 2012 14:54
Grammer AG signs purchase agreement to acquire headrest manufacturer Nectec
Grammer AG / Key word(s): Acquisition
10.12.2012 14:54
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to section 15 WpHG
GRAMMER AG (WKN 589540, ISIN DE0005895403)
Grammer AG signs purchase agreement to acquire headrest manufacturer Nectec
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. Nectec develops and
produces headrests mainly for the premium car segment. Grammer will acquire
100% of share capital in Nectec s.r.o. from Fehrer-Group. Nectec has
roughly 240 employees and generated revenue of more than EUR 30 million in
fiscal year 2011.
This takeover further expands Grammer's strongest revenue-generating
segment. At the same time, the integration of Nectec strengthens Grammer's
competence in the area of headrest technologies.
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.
GRAMMER AG
Executive Board
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
10.12.2012 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