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Grammer AG: Takeover of headrest manufacturer Nectec by Grammer AG approved and completed

DGAP-News: Grammer AG / Key word(s): Acquisition
Grammer AG: Takeover of headrest manufacturer Nectec by Grammer AG
approved and completed

21.02.2013 / 16:20

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Takeover of headrest manufacturer Nectec by Grammer AG approved and
completed

Acquisition strengthens leading position in headrest market
Expanded range of innovative products and designs

Amberg, February 21, 2013 - The takeover of Czech Republic-based Nectec
Automotive s.r.o. by Grammer AG has been completed following approval of
the transaction by antitrust authorities. With the acquisition and
integration of Nectec, Grammer further expands its strongest
revenue-generating segment and strengthens its leading position in the
European headrest market.

´We are very pleased to be teaming up with an innovative partner like
Nectec. Together, we will continue to realize our vision of becoming a
leading supplier in the automotive and commercial vehicle industry´, says
Hartmut Müller, CEO of Grammer AG.

Grammer as the new owner will continue and expand operations in the Ceska
Lipa (CZ) plant with the local Nectec employees as planned. Combining the
product range and manufacturing locations of the two companies will further
improve Grammer´s competitive position. At the same time, the deal opens up
new growth opportunities for Grammer in the European premium segment.
Nectec, with its innovative ideas and solutions, ideally enhances Grammer´s
existing range of passive and active headrests and modules, making the
company an even more attractive partner for automotive OEMs.

Company Profile
Grammer AG, Amberg, Germany, is specialized in the development and
production of components and systems for automotive interiors as well as
driver and passenger seats for offroad vehicles (tractors, construction
machinery, forklifts), trucks, buses and trains. Our Seating Systems
division comprises the truck and offroad seat segments as well as train and
bus seating. In the Automotive division, we supply headrests, armrests and
center console systems to premium automakers and automotive system
suppliers.

Grammer is represented in 18 countries worldwide with a workforce of
approx. 9,000 employees across its 24 fully consolidated subsidiaries.

Grammer shares are listed in the SDAX segment of the German Stock Exchange,
and are traded on the Munich and Frankfurt stock exchanges, via the Xetra
electronic trading platform and on the OTC markets of the Stuttgart, Berlin
and Hamburg stock exchanges.

Contact:
GRAMMER AG
Ralf Hoppe
Phone: [phone]
[e-mail]

End of Corporate News

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Language:    English                                                    
Company:     Grammer AG                                                 
             Postfach 14 54                                             
             92204 Amberg                                               
             Germany                                                    
Phone:       [phone]                                           
Fax:         [phone]                                        
E-mail:      [e-mail]                             
Internet:    www.grammer.com                                            
ISIN:        DE0005895403, DE0005895403                                 
WKN:         589540, 589540                                             
Indices:     SDAX                                                       
Listed:      Regulierter Markt in Frankfurt (Prime Standard), München;  
             Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart      

End of News    DGAP News-Service  

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202044 21.02.2013