EANS-Adhoc: ElringKlinger AG acquires majority interest in mold and tool manufacturer Hummel-Formen GmbH
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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12.09.2011
Dettingen/Erms (Germany), September 12, 2011 +++ ElringKlinger AG has
acquired a 90% interest in the Hummel Group, based in Lenningen/Baden-
Württemberg (Germany). The purchase agreements with the family that
owns the group were signed on September 10. Alongside Hummel-Formen
GmbH, the Hummel Group includes Hummel Kunststofftechnik GmbH and two
subsidiaries in Romania.
Specializing in the manufacture of large-scale molds for injection
tools used in the production of plastic parts that are required
primarily for engine-related applications, Hummel-Formen GmbH has
established a unique selling proposition by combining tooling,
production and process development within its portfolio. In acquiring
a majority interest, ElringKlinger has reinforced its expertise with
regard to tooling technology and expanded its knowledge in the field
of lightweight engineering, particularly in terms of incorporating
fiber-reinforced composites. The replacement of heavy metal parts with
lightweight plastics is currently considered one of the key trends
within the automotive industry when it comes to reducing fuel
consumption and lowering CO2 emissions. Furthermore, ElringKlinger has
secured major process patents that are currently being filed.
Additional know-how within these areas will provide ElringKlinger with
a significant competitive advantage both in terms of technology and
cost structures.
The transaction will be concluded subject to the usual proviso of
official approval by the antitrust authorities. ElringKlinger
anticipates that it will be in a position to close the takeover and
include Hummel-Formen GmbH in the scope of consolidation of the
ElringKlinger Group effective from October 1, 2011.
In total, the Hummel Group employs 240 people in Germany and Romania.
In fiscal 2011, the Hummel Group plans to generate sales of around EUR
20 million, with an operating margin towards the lower end of the
double digit range. A third of its revenue originates from business
with the ElringKlinger Group. The purchase price payable for the 90%
interest is approximately EUR 13 million.
Technological lead from tool technology in the area of lightweight
design
The majority takeover of Hummel-Formen GmbH will allow ElringKlinger to
expand its expertise in injection molding, as well as giving the
company access to process capabilities that will be available
throughout the global Group.
Hummel-Formen has filed a patent for the so-called "JointMelt method",
as part of which the two production steps usually required can be
combined within a single manufacturing process. The plastic components
are joined directly within the injection mold by using the hot gas
welding method. This eliminates one of the steps required as part of
conventional methods, making the new process more cost-effective and
delivering a significant improvement in component quality compared to
standard methods. Furthermore, a new type of lightweight construction
process was developed, in which so-called organo sheets, particularly
light but extremely sturdy thermoplastic structural components with
embedded fiber-reinforced composites, are processed and plastic
elements for additional component functions are already injection
molded in the tool.
In the future, tools procured by the ElringKlinger Group from external
sources will be increasingly provided by Hummel Formenbau. The
additional purchasing volumes for tool steels, processing tools and
external services are expected to provide further synergies.
In fiscal 2010, the Plastic Housing Modules/Elastomer Technology division
of the ElringKlinger Group generated revenues of EUR 161.5 million mainly
from the sale of lightweight plastic cam covers and oil pans as well as
transmission housing modules.
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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issuer: 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 von: ElringKlinger AG, übermittelt durch news aktuell