EANS-News: ElringKlinger AG acquires Thawa GmbH
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Mergers - Acquisitions - Takeovers
Dettingen/Erms (euro adhoc) - Dettingen/Erms (Germany), January 3, 2012 +++
Automotive supplier ElringKlinger AG has acquired metal housings manufacturer
Thawa GmbH,based in Thale, Saxony-Anhalt, for EUR 3.0 million. The sale to
ElringKlinger AG was closed on January 3, 2012. In acquiring the
company, ElringKlinger is looking to strengthen its activities in the
field of exhaust gas purification technology. Thawa operates primarily
as a supplier and production partner to Hug Engineering AG, a Swiss
exhaust treatment specialist acquired by ElringKlinger in May 2011.
Based in Elsau, Switzerland, Hug is being further developed into a
center of excellence for exhaust treatment technology and filter
substrates within the ElringKlinger Group. In this context, it is to
serve primarily as a research and development site.
In the case of new incoming orders, the Thawa plant in Thale is to
be used primarily for the production of housings as well as for the
so-called canning of diesel particulate filters and catalytic
converters, alongside other production processes. Services
previously outsourced to Swiss suppliers operating within this area
are to be performed within the Group at the more cost-efficient site
in Thale. Acting as an "extended workbench" for Hug Engineering AG,
Thawa is to be expanded in order to accommodate the automated
manufacture of larger volumes at serial production level. As part of
the measures implemented for the purpose of integrating the exhaust
treatment business of Swiss-based Hug into the ElringKlinger Group,
significant cost items will thus be transferred to the euro area. As
regards Hug Engineering AG's sales revenues, which are generated
predominantly within the euro zone, foreign exchange losses arising
from the euro/Swiss franc exchange rate will therefore be scaled
back. This, in turn, reduces the impact of foreign exchange effects
on the company's operating margin.
Thawa GmbH has fifty employees in total. In fiscal 2011, the company
generated sales revenue of EUR 3.9 million. Inclusion in the scope
of consolidation of the ElringKlinger Group is to take place as from
January 1, 2012.
Due to increasingly stringent emission standards worldwide, engines
are being equipped with more extensive exhaust aftertreatment
technology. This applies not only to mobile installations in
transport vehicles, locomotives and shipping vessels but also to
stationary applications. Operating within the ElringKlinger Group,
Hug Engineering AG is currently expanding its business with original-
equipment customers within the commercial vehicle industry, focusing
in particular on exhaust gas purification systems for large trucks.
Combined with ElringKlinger CleanCoat coating material for soot
reduction, Hug diesel particulate filters are being marketed in the
commercial vehicle sector as well as the segment for off-road
vehicles and stationary systems.
Further inquiry note:
ElringKlinger AG
Investor Relations / Corporate Communications
Stephan Haas
Max-Eyth-Straße 2
72581 Dettingen
Fon: +49 (0)7123-724-137
E-Mail:stephan.haas@elringklinger.com
end of announcement euro adhoc
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company: ElringKlinger AG
Max-Eyth-Straße 2
D-72581 Dettingen/Erms
phone: +49(0)7123 724-0
FAX: +49(0)7123-7249000
mail: info@elringklinger.com
WWW: http://www.elringklinger.com
sector: Automotive Equipment
ISIN: DE0007856023
indexes: MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Düsseldorf, München, regulated dealing: Stuttgart
language: English
Original content of: ElringKlinger AG, transmitted by news aktuell