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GRAMMER AG (FRA:GMM) Grammer & Allygrow opening new joint technology center in India

Directive transparence : information réglementée

22/01/2019 13:13

DGAP-News: Grammer AG / Key word(s): Miscellaneous
Grammer & Allygrow opening new joint technology center in India

22.01.2019 / 13:13
The issuer is solely responsible for the content of this announcement.


Grammer & Allygrow opening new joint technology center in India

- Inauguration of new R&D office in Pune, India

- AllyGram Systems and Technologies providing engineering services for Grammer's global sites

- The new tech center designs products and applications for Grammer's automotive and commercial vehicle segments

Pune, India / Amberg, Germany, January 22, 2019 - Allygrow Technologies, a global engineering service provider to the automotive, heavy engineering and aerospace industries and Grammer AG, a leading interior specialists well known for its innovative and high-quality products, have recently joined forces in the form of setting up a Joint Venture in India to develop world-class products and solutions for the automotive and commercial vehicle industry. Following the signing of the Joint Venture contract, the new joint tech center in Pune has been officially inaugurated on December 14, 2018. Board members of Grammer AG and Allygrow Technologies were present during the festive ceremony highlighting the strategic importance of the new partnership for the future development of both companies.

"We are proud to partner with Allygrow Technologies. Together we can combine our passion, creativity and expertise to develop world-class products and solutions for our customers," says Manfred Pretscher, CEO of Grammer AG.

Commenting on the Joint Venture Mr. Prashant Kamat, CEO of AllyGrow Technologies said "This strategic partnership indeed is an important milestone in AllyGrow's journey, which is in line with our growth strategy "Partnering for Growth". We are excited at the prospect of leveraging the global expertise of both organizations and building a strong partnership based on state of the art engineering skills."

The new Joint Venture "AllyGram Systems and Technologies" will be providing engineering services for Grammer's global sites and therefore will make significant contributions towards boosting Grammer's global R&D performance. With the new joint venture and tech center in India, Grammer can continue to optimize its development processes and substantially improve the efficiency of its global R&D structures. With highly efficient R&D structures and engineering processes, Grammer Group is able to better compete in key markets in Europe, Asia and North America and target new markets and customers at the same time.

About Grammer AG
Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspended driver and passenger seats for onroad and offroad vehicles.
With round about 15,000 employees, Grammer operates in 20 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
investor-relations@grammer.com


22.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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: investor-relations@grammer.com
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

768375  22.01.2019 

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