ElringKlinger AG / Key word(s): Investment
27.10.2016 07:25
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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ElringKlinger sets progressive course for mobility of the future
- Acquisition of interests in hofer powertrain Engineering Group and
hofer powertrain products GmbH
- Strategic advancement of ElringKlinger in the area of innovative drive
systems for hybrid and all-electric vehicles
Dettingen/Erms (Germany), October 27, 2016 +++ ElringKlinger AG is to
acquire a strategic interest of 27% in the engineering company hofer AG.
The transaction also encompasses a 53% majority interest of ElringKlinger
in the subsidiary hofer powertrain products GmbH operating within the
Nürtingen-based group of companies. The purchase price of the entire
transaction is a double-digit figure in the million euro range and will be
settled subsequent to closing, which is to take place no earlier than
January 1, 2017. As from closing date, the subsidiary will be fully
consolidated within ElringKlinger.
Hofer AG is an expert system developer to the automotive industry, focusing
on systems within the drive train as well measuring, testing, and
installation technology. In acquiring the ownership interest, ElringKlinger
will benefit from the aforementioned innovatory abilities, particularly in
the development and production of alternative drive technologies. The focus
in particular is on small-series production within the sports and luxury
car segment. Therefore, alongside battery and fuel cell technology, the
group's portfolio will include expertise in the field of transmission
systems, electric engine, electronics and software.
"In taking this logical step, ElringKlinger is further expanding its
activities in the area of innovative drive technologies," says Dr. Stefan
Wolf, CEO of ElringKlinger AG. "Alongside lightweight components that are
independent of the drive system, electromobility will represent an
additional key pillar for the future development of the Group." As regards
e-mobility, ElringKlinger has until now mainly been operating in the area
of and cell contact systems and battery housing.
The transaction underscores the strategic direction taken by ElringKlinger,
the ambition being to act as one of the first points of contact for
automobile manufacturers when it comes to developing and implementing new
ideas. The above-mentioned acquisition of an ownership interest extends the
Group's key competencies to include drivetrain solutions for hybrid and
all-electric systems.
For further information, please contact:
ElringKlinger AG
Dr. Jens Winter
Investor Relations / Corporate PR
Max-Eyth-Straße 2
D-72581 Dettingen/Erms
Phone: +49 7123 724-88335
Fax: +49 7123 724-85 8335
E-Mail: jens.winter@elringklinger.com
About ElringKlinger AG
ElringKlinger has focused its efforts on developing forward-looking green
technologies. These are designed not only to reduce CO2 emissions but also
to scale back the level of harmful nitrogen oxides, hydrocarbons, and soot
particles. ElringKlinger is one of the few automotive suppliers worldwide
with the capabilities of developing and producing high-tech components for
all types of drive system - whether for downsized combustion engines or for
electric vehicles driven by batteries or fuel cells. Drawing on our
expertise in lightweight engineering, we can make a decisive contribution
to efforts aimed at further reducing vehicle weight and thus fuel
consumption. The company's portfolio centered around emissions reduction
also includes particulate filters and end-to-end exhaust gas purification
systems used in ships, commercial vehicles, construction machinery, and
stationary engines as well as in power stations. This is complemented by
products made of the high-performance plastic PTFE supplied by
ElringKlinger Kunststofftechnik, which are marketed to a wide range of
industries - also to those operating beyond the vehicle manufacturing
sector. Applying its abilities as an innovator, ElringKlinger is committed
to sustainable mobility and earnings-driven growth. These efforts are
supported by a dedicated workforce of more than 8,200 people at 45
ElringKlinger Group locations around the globe.
About hofer AG
The hofer Group was established in 1980 in Germany as an engineering
company and today employs more than 800 people worldwide. Development and
industrialization of systems within the powertrain, coupled with measuring,
testing, and installation technologies, form an integral part of hofer's
core competence. The company's facilities are located at sites of strategic
importance and operate as independent limited liability companies (GmbH).
This ensures efficiency, speed, and the ability to respond at short notice.
Hofer maintains fair and professional business relationships with its
customers - with a commitment to entrepreneurial risk and the highest
possible quality standards as regards its products and services. At the
same time, its management and employees are fully aware of their
responsibilities as role models. More than 75% of the workforce is made up
of engineers and technicians, all of whom are experts and specialists
within the automotive industry. They draw on many years of experience from
turn-key projects. Despite the fact that Hofer develops state-of-the-art
drive solutions, it has never forgotten its roots. The company's commitment
to service is as strong as ever: Hofer sees each task through the eyes of
its customers. As an independent developer, the company is able to produce
customized solutions for its customers - tailored precisely to their
production, cost, and sales requirements. Hofer thinks in solutions,
considers the function of an entire system, and sees the end-to-end process
of development as well as the product life cycle - and it continues to
evolve each and every day. Many employees and managers have a background
from well-known tier 1 large-scale manufacturers for powertrain systems,
there is no comparable team composition of expertise in the field of
mechatronics, electronics and software.
27.10.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: ElringKlinger AG
Max-Eyth-Straße 2
72581 Dettingen/Erms
Germany
Phone: 071 23 / 724-0
Fax: 071 23 / 724-9006
E-mail: jens.winter@elringklinger.com
Internet: www.elringklinger.de
ISIN: DE0007856023
WKN: 785602
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Hanover, Munich, Tradegate Exchange
End of Announcement DGAP News-Service
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