10.03.2016
Grammer AG DE0005895403
DGAP-Adhoc: Grammer AG establishing a joint venture with the fourth largest truck manufacturer in China
Grammer AG / Key word(s): Joint Venture
10.03.2016 05:23
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement pursuant to section 15 WpHG
GRAMMER AG (WKN 589540, ISIN DE0005895403)
Grammer AG establishing a joint venture with the fourth largest truck
manufacturer in China
Amberg / Fuping (China), March 10, 2016 - Grammer AG has today signed an
agreement with Shaanxi Automobile Group Co. Ltd., Xian, Province of
Shaanxi, China, the fourth largest heavy-duty truck manufacturer in China,
for the establishment of a joint venture for truck seats. Grammer AG will
be holding 90 percent of the new joint venture Grammer Seating (Shaanxi).
The remaining 10 percent will be held by Shaanxi Automobile Group Co. Ltd.
The joint venture will be producing a wide range of mechanical and
air-suspensed driver and co-driver seats locally. The seats will be
primarily fitted to the commercial vehicles produced by Shaanxi. As one of
the largest truck manufacturers in China, Shaanxi produces more than
100,000 heavy-duty trucks per year for the local market and for export to
other Asian countries, Africa and Latin America. With this new local
production at the Fuping industrial park Grammer completes its geographical
footprint in the commercial vehicle segment and ensures close proximity to
important customers in China.
Already today, Grammer generates around 15 percent of its Group revenue in
China at a total of six facilities addressing both the passenger and
commercial vehicle segments.
GRAMMER AG
Executive Board
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
10.03.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Grammer AG
Postfach 14 54
92204 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
End of Announcement DGAP News-Service
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