Pankl Racing Systems AG: Pankl acquires US-based crankshaft supplier Superior Crankshaft LP

Pankl Racing Systems AG  / Key word(s): Acquisition

27.07.2011 08:00

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Pankl Racing Systems AG - Pankl acquires US-based crankshaft supplier
Superior Crankshaft LP
Kapfenberg, 27 July 2011

  - 100% takeover of crankshaft supplier
  - Further improvement of market position as systems supplier
  - SP Crankshaft to be renamed to  'Pankl Engine Systems Inc'

Pankl Racing Systems AG focuses on the development and production of engine
and drivetrain systems for motor racing, high performance vehicles and
aerospace. Its US-subsidiary Pankl Engine Systems, Inc. acquires the
California based crankshaft supplier Superior Crankshaft LP ('SP').

The company is based in Irvine, California, and was founded by Mr. Gerold
Pankl in 2004. SP produces crankshafts for the high end motor racing
market. Its customers are teams from all major racing categories, such as
F1, Nascar, Le Mans prototypes, DTM. Mr. Gerold Pankl founded Pankl Racing
Systems AG in 1985 and was its major shareholder until 2004. Health reasons
are the major factor for the 2 companies he both founded to be brought
together.

'This takeover is a further step to extend our product portfolio in the
engine division. We can now provide our customers with full systems
capabilities for the entire crank assembly. SP has built market leadership
in the high end market. In the area of product development, we have already
been working together very closely. In many customer projects our engine
components (connecting rods, screws, pistons, piston pins and bearing
shells) are combined with SP crankshafts. For these reasons we consider
this acquisition a logical further step,' explains Wolfgang Plasser, CEO of
Pankl Group.

For further information:
Investor Relations
Tel.: +43 3862 33 999 317 
e-mail: ir@pankl.com
Internet: www.pankl.com




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Language:     English
Company:      Pankl Racing Systems AG
              Industriestraße West 4
              8605 Kapfenberg
              Austria
Phone:        +43 3862 33 999 -317
Fax:          +43 3862 33 999 -810
E-mail:       ir@pankl.com
Internet:     www.pankl.com
ISIN:         AT0000800800
WKN:          914732
Listed:       Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
              Stuttgart; Open Market in Frankfurt; Wien (Amtlicher Handel /
              Official Market)
 
End of Announcement                             DGAP News-Service
 
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