EANS-Adhoc: Miba Aktiengesellschaft
Miba takes over business division Off-road
of HOERBIGER
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
14.09.2010
Miba takes over business division Off-road of HOERBIGER
- Miba continues to focus on its expansion strategy and takes over
HOERBIGER Drive Technology´s friction lining business for off-road
vehicles
- Miba strengthens its global presence in friction linings, a strategic core
segment
- Miba Friction Group grows by more than half and reaches a global leading
market position in the segment Off-road
- Incremental relocation of production to Miba sites is to begin in early
2011 and creates more than 100 new jobsMiba and HOERBIGER agreed to gradually transfer the off-road vehicle business of HOERBIGER Drive Technology to Miba beginning January 1, 2011. Over the course of the 2011 business year, production of friction discs for off-road vehicles is to be handed over from Schongau, Germany to Miba sites in Austria and Slovakia step by step. Miba takes over HOERBIGER Drive Technology Pvt. Ltd. in Pune, India, on January 1, 2011.
"With the takeover of HOERBIGER´s friction lining production, Miba is continuing its successful expansion. We are growing in one of our strategic core areas, friction, and we are joining together the activities of two experienced partners. The new site in India expands Miba´s global network, providing our customers with the best possible support through local production," says Peter Mitterbauer, Miba CEO. Miba Friction Group grows by more than half and reaches a global leading market position in the strategic segment Off-road.
For more than 30 years, Miba Friction Group has been a development partner and supplier of high-performance friction linings for the international motor vehicle and machinery industry. Friction linings are the decisive factor in the performance of vehicle clutches and brakes, and serve to optimize speed and power. In the area of off-road vehicles, friction linings are used in clutch and brake systems in construction machinery, tractors, marine vessels and special-purpose vehicles. Miba Friction Group operates four sites, located in Roitham, Austria; Vráble, Slovakia; Sterling Heights, Michigan, USA; and Pune, India.
The takeover of HOERBIGER Drive Technology machinery and equipment as well as their relocation from Schongau, Germany, to the Miba sites in Roitham and Vráble, is to take place gradually beginning in January 2011. In the medium term, Miba creates more than 100 new jobs on the two sites. The Miba Friction Group presently has 560 employees.
"A professional relocation project being carried out by two experienced and reliable companies will ensure that our customers are continuously provided with technologically sophisticated friction systems," says Peter Mitterbauer. Miba and HOERBIGER share the same high standards of quality and supply capacity. By bringing together the know-how as well as development and production skills of two longstanding successful companies in the area of friction systems, Miba offers its customers an even more comprehensive global service in the future.
end of ad-hoc-announcement
The Miba Group
With headquarters in Laakirchen, Upper Austria, Miba is a strategic partner to
the international engine and automotive industry. Sintered components, engine bearings and friction materials for motor vehicles, railways, ships, aircraft and power stations are produced at eleven sites worldwide. Miba products make vehicles more efficient, safer and more environmentally friendly. Miba has around 2,900 employees, over half of whom work at the Austrian sites in Laakirchen, Vorchdorf and Roitham. In the 2009-10 business year, sales of the listed company totaled 311.8 million euros with an operating result (EBIT) of 16.4 million euros.
end of announcement euro adhoc
Further inquiry note:
Mag. Eva Almhofer-Amering
Corporate Communications
Tel.: +43/7613/2541-1117
mailto:eva.almhofer@miba.com
Investoren/Analysten
Mag. Hannes Moser
Vice President Corporate Finance
Tel.: +43/7613/2541-1138
mailto:hannes.moser@miba.com
Branche: Industrial Components
ISIN: AT0000734835
WKN: 872002
Index: Standard Market Auction
Börsen: Wien / official market