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16.07.2018 – 08:38

EDAG Engineering Group AG

DGAP-News: EDAG Engineering Group AG: EDAG reaches agreement with Zielpuls on essential parameters of an acquisition


DGAP-News: EDAG Engineering Group AG / Key word(s): Mergers & Acquisitions
EDAG Engineering Group AG: EDAG reaches agreement with Zielpuls on essential
parameters of an acquisition

16.07.2018 / 08:30
The issuer is solely responsible for the content of this announcement.

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EDAG Engineering Group AG: EDAG reaches agreement with Zielpuls on essential
parameters of an acquisition

Arbon, July 16, 2018
EDAG, leading independent engineering services provider to the global automotive
industry, and Zielpuls GmbH based in Munich (Zielpuls) reached an agreement on
essential parameters of an acquisition of Zielpuls by EDAG.

Zielpuls is a technology-oriented business consultancy that covers digitization
topics in the automotive industry. Focus of the activities is on future fields
like highly automated driving, connectivity system-architectures and
digitization. Located in Munich, Wolfsburg, Beijing and Shanghai, about 170
highly specialized employees generate revenues of about 16 million Euros per
year. Zielpuls is one of the companies with the strongest earnings and growth in
the segment.

"With the planned acquisition, EDAG significantly expands its competences in
important growth areas of the automotive development", explains Cosimo De Carlo,
CEO of the EDAG Group. "Zielpuls is an ideal addition of our
Electrics/Electronics portfolio and the digital transformation. I am looking
forward to working together with the innovative and modernly set up company and
would like to welcome our new colleagues to EDAG. "

Thomas Eichelmann, Chairman of the Board of Directors adds: "EDAG has an optimal
strategic fit with Zielpuls. The EDAG Group can expand its offering of services
to consulting-intensive, complementary services. With this step, the EDAG Group
positions itself even stronger as an innovative partner to the global automotive
industry."

"For us, significant growth opportunities in new markets and with new customers
open up through EDAG's worldwide network", explain Markus Frey and Marc Poppner,
Managing Directors of Zielpuls. "Together, we can now offer our customers
comprehensive solutions and consulting. With EDAG, our teams are now backed by a
strong global network.

The parties are currently in exclusive contract negotiations. It is intended to
close the transaction until the end of September.



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 2017, the company generated revenues of EUR 717 million and an
adjusted EBIT of EUR 32.6 million. As at 31 December 2017, 8,404 employees
(including apprentices) worked for EDAG in 19 countries.



Contact:

Michaela Bender
Phone:+49 (0) 611- 7375 145


 

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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16.07.2018  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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704489  16.07.2018