Corporate | 21 February 2013 16:20

Grammer AG: Takeover of headrest manufacturer Nectec by Grammer AG approved and completed

Grammer AG / Key word(s): Acquisition

21.02.2013 / 16:20

Takeover of headrest manufacturer Nectec by Grammer AG approved and completed

Acquisition strengthens leading position in headrest market
Expanded range of innovative products and designs

Amberg, February 21, 2013 – The takeover of Czech Republic-based Nectec Automotive s.r.o. by Grammer AG has been completed following approval of the transaction by antitrust authorities. With the acquisition and integration of Nectec, Grammer further expands its strongest revenue-generating segment and strengthens its leading position in the European headrest market.

'We are very pleased to be teaming up with an innovative partner like Nectec. Together, we will continue to realize our vision of becoming a leading supplier in the automotive and commercial vehicle industry', says Hartmut Müller, CEO of Grammer AG.

Grammer as the new owner will continue and expand operations in the Ceska Lipa (CZ) plant with the local Nectec employees as planned. Combining the product range and manufacturing locations of the two companies will further improve Grammer's competitive position. At the same time, the deal opens up new growth opportunities for Grammer in the European premium segment. Nectec, with its innovative ideas and solutions, ideally enhances Grammer's existing range of passive and active headrests and modules, making the company an even more attractive partner for automotive OEMs.

Company Profile
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 and center console systems to premium automakers and automotive system suppliers.

Grammer is represented in 18 countries worldwide with a workforce of approx. 9,000 employees across its 24 fully consolidated subsidiaries.

Grammer shares are listed in the SDAX 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.

Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
investor-relations@grammer.com

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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
Indices:	SDAX
Listed:	Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart

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202044  21.02.2013