24.06.2016
NORMA Group SE DE000A1H8BV3
DGAP-News: NORMA Group SE enters an exclusive agreement to acquire the global Autoline quick connectors business from Parker
DGAP-News: NORMA Group SE / Key word(s): Mergers & Acquisitions/Takeover
NORMA Group SE enters an exclusive agreement to acquire the global Autoline
quick connectors business from Parker
24.06.2016 / 07:16
The issuer is solely responsible for the content of this announcement.
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NORMA Group SE enters an exclusive agreement to acquire the global Autoline
quick connectors business from Parker
Maintal, Germany/Guichen, France, 24 June 2016 - NORMA Group SE, a global
market leader in engineered joining technology, entered into an exclusive
agreement to acquire all assets of the Autoline business from Parker's
Fluid Systems Connectors Division, ("Parker Autoline") on 23 June 2016. The
terms of the agreement are confidential and will not be disclosed.
Completion of the transaction is subject to customary closing conditions,
including the Works Councils' consultation processes in France, and is
expected in the second half of 2016.
Parker Autoline has been designing, manufacturing and marketing quick
connectors for all types of automotive fluid line applications for over 20
years. These plastic push-to-connect components are used in all vehicle
types in fuel lines, cooling lines, vapor lines, braking assistance lines
and SCR (Selective Catalytic Reduction) circuit lines. The connecting
products are manufactured at production sites in France, Mexico and China
and sold to customers around the world. Expected global sales of Parker
Autoline are around EUR 40 million in fiscal year 2016 (1 July 2015-30 June
2016).
With the acquisition of Parker Autoline, NORMA Group is expanding its
product portfolio in the area of quick connectors and strengthening its
market position. "These innovative and high-quality Autoline products
complement our plastic product range in an ideal way," said Werner Deggim,
CEO of NORMA Group. "In addition, we will be opening up new international
markets, particularly in Asia, by acquiring Parker Autoline."
Parker Autoline has its headquarters in Guichen, France. This business unit
is part of the Fluid System Connectors Division of Parker Hannifin
Corporation, and formerly a business unit of Legris.
Additional information on the company is available on www.normagroup.com.
Press photos are available from our platform on www.normagroup.com/images.
Contact
NORMA Group SE
Daphne Recker
Group Communications
E-mail: [email protected]
Tel: +49 (0)6181 - 6102 743
About NORMA Group
NORMA Group is a global market leader in engineered joining technology. The
company manufactures a wide range of innovative connecting solutions and
water management technology offering more than 35,000 products to customers
in 100 countries with around 6,500 employees. NORMA Group helps its
customers and business partners to react to global challenges such as
climate change and increasing scarcity of resources. NORMA Group joining
products can be found in vehicles and trains, ships and aircraft, buildings
and water management as well as in applications for the pharmaceutical and
biotechnology industry. The company generated sales of around EUR 890
million in 2015. NORMA Group operates a global network of 22 production
facilities as well as numerous sales and distribution sites across Europe,
the Americas, and Asia-Pacific. NORMA Group has its headquarters in
Maintal, Germany. NORMA Group SE is listed on the German stock exchange
(Prime Standard) and included in the MDAX index.
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24.06.2016 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.
Archive at www.dgap.de
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Language: English
Company: NORMA Group SE
Edisonstr. 4
63477 Maintal
Germany
Phone: +49 6181 6102 741
Fax: +49 6181 6102 7641
E-mail: [email protected]
Internet: www.normagroup.com
ISIN: DE000A1H8BV3
WKN: A1H8BV
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Terminbörse EUREX
End of News DGAP News Service
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474057 24.06.2016
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