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
23.05.2012 – 10:07
-------------------------------------------------------------------------------- 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 mailto:info@crossindustries.at 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 mail: info@crossindustries.at WWW: www.crossindustries.at sector: Process Industries ISIN: AT0000500905, AT0000500913 indexes: ATX Prime stockmarkets: Regulated free trade: Wien language: English