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23.05.2012 – 10:07

CROSS Industries AG

EANS-News: CROSS Industries AG
Wethje Carbon Composites, a holding company of CROSS Industries Group, takes over the RTM automotive business from Airex Composites Structures

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Company Information

Wels (euro adhoc) - The Wethje Carbon Composites Group is the leading German
manufacturer of high-grade lightweight and carbon composite components for
racing and premium vehicles. Wethje is a holding company of the Austrian CROSS
Industries Group located in Wels. 
On May 21 the agreement on the acquisition of the RTM (Resin Transfer Moulding)
automotive business between Die Wethje Kunststofftechnik GmbH,
Hengersberg/Germany and Airex AG, Altenrhein/Switzerland was closed.
The agreement includes the takeover of all production facilities, the patented
know how for the manufacturing of mouldings using the RTM process and the total
business volume of this Airex segment. The acquired order volume includes all
development and production orders for serial components for a major German
premium automobile manufacturer. 
With this acquisition Wethje Group extends its competences in RTM and serial
manufacturing for lightweight composite parts. In a next step the business will
be integrated at the already existing site in Pleinting/Lower Bavaria;
investments will be made to extend the production facility and further develop
the serial manufacturing segment. In the medium term an increase in workforce of
up to 100 employees is planned due to the strong growth in this segment.

Further inquiry note:
CROSS Industries AG
DI Stefan Pierer
Telefon  +43(0)7242/694 02

end of announcement                               euro adhoc 

company:     CROSS Industries AG
             Edisonstraße 1
             A-4600 Wels
phone:       +43(0)7242/ 69402
FAX:         +43(0)7242/ 69402-109
sector:      Process Industries
ISIN:        AT0000500905, AT0000500913
indexes:     ATX Prime
stockmarkets: Regulated free trade: Wien 
language:   English