GRAMMER AG (FRA:GMM) Grammer AG establishing a joint venture with the fourth largest truck manufacturer in China

Directive transparence : information réglementée

10/03/2016 05:23
Grammer AG / Key word(s): Joint Venture 10.03.2016 05:23 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad hoc announcement pursuant to section 15 WpHG GRAMMER AG (WKN 589540, ISIN DE0005895403) Grammer AG establishing a joint venture with the fourth largest truck manufacturer in China Amberg / Fuping (China), March 10, 2016 - Grammer AG has today signed an agreement with Shaanxi Automobile Group Co. Ltd., Xian, Province of Shaanxi, China, the fourth largest heavy-duty truck manufacturer in China, for the establishment of a joint venture for truck seats. Grammer AG will be holding 90 percent of the new joint venture Grammer Seating (Shaanxi). The remaining 10 percent will be held by Shaanxi Automobile Group Co. Ltd. The joint venture will be producing a wide range of mechanical and air-suspensed driver and co-driver seats locally. The seats will be primarily fitted to the commercial vehicles produced by Shaanxi. As one of the largest truck manufacturers in China, Shaanxi produces more than 100,000 heavy-duty trucks per year for the local market and for export to other Asian countries, Africa and Latin America. With this new local production at the Fuping industrial park Grammer completes its geographical footprint in the commercial vehicle segment and ensures close proximity to important customers in China. Already today, Grammer generates around 15 percent of its Group revenue in China at a total of six facilities addressing both the passenger and commercial vehicle segments. GRAMMER AG Executive Board Contact: GRAMMER AG Ralf Hoppe Phone: 0049 9621 66 2200 investor-relations@grammer.com 10.03.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------