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DGAP-News: Grammer AG / Key word(s): Miscellaneous Grammer completes acquisition of US components supplier TMD - All closing conditions fulfilled and all regulatory approvals and clearances received - Substantial expansion of market position and local manufacturing in the United States and North America - Global presence of Grammer offers additional growth potential for TMD products - Additional process and production expertise to support the Grammer Group's strategic course Amberg, October 02, 2018 - Grammer AG has completed the acquisition of the US automotive components supplier TMD Toledo Molding & Die Inc. The transaction has been cleared by the anti-trust authorities and all other regulatory bodies and all closing conditions have been fulfilled. With the acquisition of TMD, Grammer is successfully continuing its strategy of expanding its market position in North America. With this acquisition, Grammer is granted access to additional process and production expertise for interior components. Based on GRAMMER's global presence, TMD's products will also be available outside of the USA in the future and therefore offer additional growth potential in Europe and also in China. "The acquisition of TMD marks an important component of our long-term strategy. We have found an ideal partner with whom we can enhance our expertise, extend our product range and strengthen our presence in the world's second largest automotive market," says Hartmut Müller, Chief Executive Officer of Grammer AG. "TMD is the largest acquisition in Grammer's history and an important milestone. Together with the closer collaboration with our strategic partner Ningbo Jifeng, this acquisition means that Grammer will be significantly strengthened in two major growth regions." With approximately 1,600 employees at 11 facilities in the United States and Mexico, TMD is one of the leading development and process specialists for thermoplastic solutions in the Northern American automotive market. At the same time, it is equipped with its own tool engineering operations. TMD primarily engineers and produces interior components for visible and invisible applications for the automotive industry.
With over 13,000 employees, Grammer operates in 19 countries around the world. Grammer shares are listed in the Prime Standard 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
02.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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: | |
| Internet: | |
| ISIN: | DE0005895403, DE0005895403 |
| WKN: | 589540, 589540 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
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| End of News | DGAP News Service |
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