Corporate | 27 July 2011 08:03

Grammer acquires specialist in electronic control elements

Grammer AG / Key word(s): Acquisition

27.07.2011 / 08:03

Grammer acquires specialist in electronic control elements

Transaction strengthens technological competence
Reinforcement of leadership in seating systems innovation

Amberg, July 27, 2011 – Grammer AG, leading supplier of automotive interiors and seating systems, has acquired 100% of equity in Belgian electronics specialist EiA Electronics N.V., Aartselaar, Belgium. With the purchase, Grammer is expanding its technological competence in the area of electronics. EiA Electronics specializes in development, integration and distribution of electronic components, with a focus on multi-functional armrests for commercial vehicles. The company's product range includes displays, consoles, controllers, communication modules and sensors. Through integration of high-tech electronics into its seating product portfolio, Grammer continues to expand its value chain and enhance the quality of its development of driver seats for commercial vehicles.

'With the acquisition of EiA Electronics, we are expanding our technological basis,' says Hartmut Müller, CEO of Grammer AG. 'This is targeted investment in our innovation leadership. Through the combination of electronic and ergonomic components, a leading seating supplier will be in a position for the first time to offer its customers driver seats with integrated control elements as a complete system.'

The acquisition of EiA Electronics is a further part of Grammer's declared strategy of expansion along the value chain. This makes sense given that agricultural and construction machinery customers are already using EiA technologies as separate components with selected Grammer products. Over the coming months, Grammer plans to integrate EiA Electronics features into existing products.

'Being part of an international group like Grammer gives us the opportunity to considerably expand our customer base,' says Michel Nédée, Managing Director of EiA Electronics. 'Future cooperation in research and development will also allow us to contribute our expertise in other product groups.'

EiA Electronics has roughly 50 employees and generated revenue of approximately EUR 20 million in 2010. The company will remain as a brand within Grammer Group. Grammer paid EUR 10.5 million for the acquisition of EiA Electronics, financed by proceeds from the capital increase by Grammer AG in April of this year.

EiA Electronics
EiA Electronics NV, based in Aartselaar, Belgium, is partner for the development and supply of customized solutions for off-highway vehicles. This high tech electronics company provides displays, controllers, consoles, handles, communication Modules and intelligent sensors already for more than 20 years now. An experienced team of specialists services OEM-customers all over the world.

Grammer AG
Grammer AG, Amberg, Germany, is specialized in the development and production of components and systems for automotive interiors as well as driver and passenger seats for offroad vehicles (tractors, construction machinery, forklifts), trucks, buses and trains. Our Seating Systems division comprises the truck and offroad seat segments as well as train and bus seating. In the Automotive division, we supply headrests, armrests, center console systems and integrated child safety seats to premium automakers and automotive system suppliers. Grammer is represented in 17 countries worldwide with a workforce of approx. 8,000 employees across its 23 fully consolidated subsidiaries. Grammer shares are listed in the S-DAX segment of the German Stock Exchange, and are traded on the Munich and Frankfurt stock exchanges, via the Xetra electronic trading platform and on the OTC markets of the Stuttgart, Berlin and Hamburg stock exchanges.

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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:	investor-relations@grammer.com
Internet:	www.grammer.com
ISIN:	DE0005895403, DE0005895403
WKN:	589540, 589540
Listed:	Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart

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