Miba Aktiengesellschaft

EANS-Adhoc: Miba Aktiengesellschaft
Miba takes over business division Off-road of HOERBIGER

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Company Information


Miba takes over business division Off-road of HOERBIGER

@@start.t2@@- Miba continues to focus on its expansion strategy and takes over
         HOERBIGER Drive Technology´s friction lining business for off-road
      - Miba strengthens its global presence in friction linings, a strategic core
      - 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 jobs@@end@@

Miba 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

@@start.t3@@================================================================================ The Miba Group

With headquarters in Laakirchen, Upper Austria, Miba is a strategic partner to@@end@@

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.

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ots Originaltext: Miba Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Mag. Eva Almhofer-Amering
Corporate Communications
Tel.: +43/7613/2541-1117
mailto: eva.almhofer@miba.com

Mag. Hannes Moser
Vice President Corporate Finance
Tel.: +43/7613/2541-1138

Branche: Industrial Components
ISIN:      AT0000734835
WKN:        872002
Index:    Standard Market Auction
Börsen:  Wien / official market

Weitere Meldungen: Miba Aktiengesellschaft

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