26.10.2017 – 10:14

EDAG Engineering Group AG

DGAP-News: EDAG Engineering Group AG: EDAG develops the driver assistance systems of the future on behalf of BMW

DGAP-News: EDAG Engineering Group AG / Key word(s): Incoming Orders
EDAG Engineering Group AG: EDAG develops the driver assistance systems of the
future on behalf of BMW

26.10.2017 / 10:10
The issuer is solely responsible for the content of this announcement.

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EDAG develops the driver assistance systems of the future on behalf of BMW

Arbon, October 26th2017
EDAG has received one of the most important orders from BMW, to develop and
secure driver assistance systems. Together with BMW, the globally active
engineering service provider develops the future generation of driver assistance
systems that will meet the requirements for highly automated and autonomous
driving. The order also includes securing all developed assistance systems.

EDAG will open a new development site for this technology project in the
4thquarter 2018 on the Business Campus in Unterschleißheim and continue its
growth in southern Germany.

EDAG CEO Juergen Vogt is pleased about this project and points out: "EDAG and
BMW maintain a long-standing and very trusting cooperation. With this project,
we are taking a central technological step on the way towards an autonomous
vehicle. We are proud that our development team will make a significant
contribution to the future automotive world."
 

About EDAG

EDAG is an independent engineering services provider to the global automotive
industry. The company serves leading domestic and international vehicle OEMs and
sophisticated automotive suppliers through a global network of about 60 sites in
major automotive centres of the world.

EDAG offers complementary engineering services across its Vehicle Engineering,
Electrics/Electronics and Production Solutions businesses. Based on these
extensive capabilities, EDAG can support clients across the entire value chain
from the original design idea to product development and prototype construction
all the way to the delivery of turnkey production systems. As a technology and
innovation leader, EDAG also operates established centres of excellence that
design landmark technologies for future applications in the automotive industry:
lightweight construction, electric mobility, car IT, integral safety and new
production technologies.

In financial year 2016, the company generated revenues of EUR 715 million and an
adjusted EBIT of EUR 43.8 million. As at 31 December 2016, 8,270 employees
(including apprentices) worked for EDAG in 19 countries.


Contacts:


Public Relations
Christoph Horvath
Press Officer EDAG Group
Phone:+49 (0) 661- 6000 570
Mail:pr@edag.de
www.edag.de


Investor Relations
Sebastian Lehmann
Head of Investor Relations
Phone:+49 (0) 611- 7375 168
Mail:ir@edag-group.ag
ir.edag.de

 

Forward-looking statements

 

This release contains forward-looking statements. These statements are based on
current estimates and projections of EDAG Executive Board and currently
available information. They are not guarantees of future performance, involve
certain risks and uncertainties that are difficult to predict, and are based
upon assumptions as to future events that may not be accurate. Many factors
could cause the actual results, performance or achievements of EDAG to be
materially different from those that may be expressed or implied by such
statements. EDAG does not assume any obligation to update the forward-looking
statements contained in this release.

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26.10.2017  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.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English

Company:  EDAG Engineering Group AG

          Schlossgasse 2

          9320 Arbon

          Switzerland

Phone:    +41 71 54433-0

E-mail:    ir@edag-group.ag

Internet: www.edag.com

ISIN:     CH0303692047

WKN:      A143NB

Listed:   Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial
Market in Berlin, Dusseldorf, Munich, Stuttgart



 

End of News DGAP News Service

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