Mynaric AG

  • WKN: A0JCY1
  • ISIN: DE000A0JCY11
  • Land: Deutschland

Nachricht vom 19.11.2018 | 08:45

Mynaric opens site in China due to booming Asian aerospace market

DGAP-News: Mynaric AG / Key word(s): Strategic Company Decision

19.11.2018 / 08:45
The issuer is solely responsible for the content of this announcement.


Mynaric opens site in China due to booming Asian aerospace market

  • Mynaric announces new site in Shanghai, China, to further company's reach into key markets
  • Measures come as a consequence of high demand for Mynaric's products and booming aerospace market in Asia

Munich, November 19, 2018 - Mynaric (Frankfurt Stock Exchange: M0Y, Scale 50, ISIN: DE000A0JCY11) can announce today that it is opening a new site in Shanghai, China, as a consequence of the high demand for its products and the rapidly-expanding Asian aerospace communications market.

The numerous developments in the aerospace communications industry in Asia have driven Mynaric to physically place itself at the heart of one of the fastest growing aerospace markets in the world. The new site is designed to improve access to this burgeoning market in order for Mynaric to sell products in Asia.

China is already one of the fastest growing space nations and is experiencing a boom in its aircraft industry, with several Asian companies and organizations announcing plans to pursue satellite networks in low Earth orbit (LEO) and with experts predicting the country will become the world's second largest aerospace market in the coming years. Sustained growth in several Asian countries has triggered demand for connectivity solutions for those parts of the population that currently have no access to the internet.

"One of the key pillars of our business strategy is internationalization, and today's announcement concerning our move into Asian markets mirrors our actions in North America where we established a subsidiary in 2016. Operating regional offices in North America and Asia, in unison with our headquarters in Europe, allows us to capture the world's most important aerospace markets and fully establish ourselves as a true global player."
Dr. Wolfram Peschko, CEO of Mynaric

About Mynaric
Mynaric is a manufacturer of laser communication technologies used to establish dynamic communication networks in air and space. Its wireless laser data transmission products include ground stations and flight terminals, which allow very large quantities of data to be sent wirelessly over long distances between aircraft, autonomous drones, high altitude platforms, satellites and the ground.

Globally, the need for fast and ubiquitous network connectivity is advancing inexorably. Data networks are today largely based on infrastructure on the ground, which cannot be expanded arbitrarily for legal, economic or logistical reasons. The future therefore calls for an expansion of the existing network infrastructure into air and space. With its wireless laser communication products Mynaric is positioned as a prime pioneer in this growth market.

For more information see: www.mynaric.com

Important information
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or, in each case, the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with our industry, as well as many other risks specifically related to the Company and its operations.

Contact:
Mynaric AG
Friedrichshafener Straße 3
82205 Gilching
Germany

Tel. +49 8105 7999 117 (English media)
Tel. +49 40 609186 65 (German media)
E-mail: comms@mynaric.com
www.mynaric.com



19.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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