ots Ad hoc-Service: Bertrandt AG <DE0005232805>
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- Engineering services provider Bertrandt now also located in Spain
- Bertrandt AG acquires a majority interest in Novel Lahnwerk Engineering S.A. of Spain
With the acquisition of a majority holding in engineering services provider Novel Lahnwerk Engineering S.A., the Bertrandt Group is now represented on the Spanish market as well. With this new base, the Company intends to further extend its coverage of the European market. The agreement was signed on January 31, 2000, subject to approval by the Supervisory Board.
Like Bertrandt AG, Novel operates as an engineering partner for the automotive industry. Novel's principal customer is carmaker Seat, a subsidiary of the VW Group, as well as its systems suppliers.
Novel Lahnwerk Engineering S. A., with headquarters in Barcelona, was established in 1996 and employs approximately 100 people. Revenues of approx. DM 11 million were recorded in fiscal 1999. The previous owners retain their equity interest in the company, just as the existing management will continue to play a leading role in the future management of the Novel company.
Looking forward, Bertrandt sees good prospects in Spain and growth potential for further projects with the Spanish automotive industry.
Bertrandt AG The Management Board
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