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Nanogate expands business in China with additional large order for glazing components

NANOGATE AG / Key word(s): Miscellaneous

30.03.2015 11:16

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Nanogate expands business in China with additional large order for glazing
components

New order has a volume in the significant double-digit million range and
will run for several years - Supply of multifunctional plastic components
with glass-like properties for a leading car manufacturer - Glazing
capacities increased - Option to set up production in China

Göttelborn, Germany, 30 March 2015. Nanogate AG, a leading international
integrated systems provider for high-performance surfaces, is benefiting
from its internationalisation strategy. The Group is expanding its business
in China with a new million-euro project for a leading German car
manufacturer. Nanogate has thereby added a further order to its existing
contract, which will be processed in partnership with an international
automotive supplier. The new order, which will run for several years, has a
total volume in the significant double-digit million range and will
increase the business that has been in place since 2014. The company has
also been given the option of setting up production in China in the medium
term with the corresponding support of local partners.

Ralf Zastrau, CEO of Nanogate AG, commented: "Greater internationalisation
and the establishment of locations outside Europe are key growth drivers of
our Phase5 strategy programme which was launched in 2014. The new,
additional million-euro project for multifunctional plastic components with
glass-like properties will take us considerably closer to our medium-term
target of exceeding sales of EUR 100 million and increasing the
profitability of the Group. The great dedication of the Nanogate team in
China is therefore paying off more quickly than expected. The long-term
partnership with the automotive supplier and the car manufacturer has also
been confirmed by what is already a fixed option to obtain support in the
medium term for the possible establishment of our own Nanogate production
in China. Glazing components as part of our strategic growth area of
advanced polymers continue to be in strong demand in the automotive sector