Tous Actualités
Suivre
Abonner ElringKlinger AG

ElringKlinger AG

ElringKlinger lifts stake in Marusan Corporation to 50%

Dettingen/Erms (euro adhoc) -

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
merger, acquisition and takeover
Dettingen/Erms (Germany)/Tokyo (Japan),
May 2, 2008  +++  The ElringKlinger Group has increased its stake in 
Japanese gasketing manufacturer  Marusan Corporation, Tokyo, from 10%
to 50%. ElringKlinger plans to unlock further sales growth with 
Japanese vehicle manufacturers and strengthen its position in the 
Asian market.
Negotiations were finalized and the share purchase agreement was 
signed. The deal will be effective immediately. Both parties also 
concluded a joint venture agreement. The existing company 
ElringKlinger Marusan Corporation will be merged with the 
newly-formed Joint Venture. The company will be registered under the 
name of ElringKlinger Marusan Corporation.
The Marusan Corporation and its three affiliates produce cylinder 
head gaskets, specialty gaskets and thermal shielding modules for the
automobile and truck industry. The company has targeted sales for 
2008 of approx. EUR 45 million. The purchase price for the 40% stake 
is in the range of 0.3 - 0.4 times sales.
Long standing relationship In March 2004, ElringKlinger AG and 
Marusan Corporation founded the ElringKlinger Marusan Corporation, a 
joint venture that has been focusing on R&D and sales for the 
Japanese and other Asian markets. The successful acquisition of new 
projects has led to a point when both companies decided to extend 
their relationship to the manufacturing area.
Next step in Asian build-up After having expanded its production 
sites in China as well as Korea and having built up a plant in 
Ranjangaon, India, ElringKlinger is in the process of expanding its 
business in Asia further and aims at strengthening its ties with the 
Japanese original equipment manufacturers in the Japanese market and 
abroad. Within this context ElringKlinger is also broadening its 
product range offered in the Asian markets. Going forward, the newly 
formed joint venture, besides R&D and sales, will provide a 
production hub for supplying Japanese clients from within the 
Japanese market.
end of announcement                               euro adhoc

Further inquiry note:

Stephan Haas
Investor Relations Manager
Telefon: +49(0)7123 724-137
E-Mail: stephan.haas@elringklinger.de

Branche: Automotive Equipment
ISIN: DE0007856023
WKN: 785602
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Börse Stuttgart / regulated dealing

Plus de actualités: ElringKlinger AG
Plus de actualités: ElringKlinger AG