01.08.2018
Grammer AG DE0005895403
DGAP-News: Grammer planning new joint technology center in India
DGAP-News: Grammer AG / Key word(s): Miscellaneous
Grammer planning new joint technology center in India
01.08.2018 / 13:06
The issuer is solely responsible for the content of this announcement.
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Grammer planning new joint technology center in India
- Further optimization of R&D structures with new technology center in Pune
- Joint venture with new partner AllyGrow Technologies
Amberg, August 1, 2018 - As one of the leading automotive interior
specialists, the Grammer Group is known for its innovative and high-quality
products. The basis for this are its global research and development (R&D)
activities that it has steadily expanded over the last few years under the
global Grammer strategy. With these highly efficient global R&D structures,
the Grammer Group is able to compete with its peers in key markets in
Europe, Asia and North America and to additionally reinforce its market
position with innovative products and technologies.
Grammer is now completing a further important milestone in its R&D strategy.
Looking forward, external support services for development projects are to
be pooled at a single site and allocated across a small number of
specialized development service providers. For this purpose, Grammer will be
establishing a new R&D facility in India under a joint venture forged with
an experienced local partner. Based in the city of Pune in western India,
where many of Grammer's customers are located, the new joint technology
center will be handling specialized R&D tasks. The new joint technology
center will be particularly responsible for R&D activities which are
currently being primarily executed by external service providers. The
contract for the joint venture is expected to be signed in the third quarter
of 2018. Grammer's new partner, AllyGrow Technologies, is one of the leading
development service providers in the automotive, engineering and aerospace
segments. With six facilities around the world, it has some 300 engineers
who have been active in India for many years.
"The optimum deployment of R&D resources is of crucial importance for
Grammer's continued successful growth so that the numerous new projects and
product innovations can be taken to market swiftly and efficiently. With the
establishment of our joint venture in India, we will continue to optimize
our development processes under the R&D strategy and substantially improve
the efficiency of our global R&D structures," says Hartmut Müller, Chief
Executive Officer of Grammer AG.
Company profile
Located in Amberg, Germany, Grammer AG specializes in the development and
production of components and systems for automotive interiors as well as
suspension driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console
systems and high-quality interior components and operating systems to
premium automakers and automotive system suppliers. The Commercial Vehicle
Division comprises seats for the truck and offroad seat segments (tractors,
construction machinery, forklifts) as well as train and bus seats. With
13,000 employees, Grammer operates in 19 countries around the world. Grammer
shares are listed in the SDAX and traded on the Frankfurt and Munich stock
exchanges via the electronic trading system Xetra.
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
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01.08.2018 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.
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Financial/Corporate News and Press Releases.
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Language: English
Company: Grammer AG
Georg-Grammer-Str. 2
92224 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: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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709981 01.08.2018
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