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NANOGATE AG: major million-euro order in systems business with enhanced plastic components

NANOGATE AG / Key word(s): Incoming Orders

19.05.2016 07:57

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Order volume worth more than EUR 20 million - Complete responsibility for
system, from design to enhanced components for luxury vehicles -
Transaction for stake in plastics specialist Goletz successfully completed

Nanogate AG, a leading international integrated systems provider for
high-performance surfaces, is progressing with the expansion of its
business with enhanced plastic components faster than expected: The Group
has received a multi-year order from a luxury car manufacturer. The order
volume is worth more than EUR 20 million. Nanogate will start delivering
high-quality interior parts for the centre console of an SUV in 2017.
Meanwhile, the company has also formally completed its acquisition of a
majority stake in the plastics specialist Walter Goletz GmbH, as per its
announcement in April 2016.

Nanogate AG's CEO, Ralf Zastrau, commented: "Enhanced plastic components
with the highest optical quality are an important driver of sales for
Nanogate. The expansion of our business is going significantly faster than
we initially expected thanks to the major new order. The project will begin
in 2017 and will considerably strengthen our market position. The agreement
with a leading luxury car manufacturer also demonstrates how good our
strategic alignment is. Our expertise and strong mass production business
is based on three pillars, which we have continuously strengthened in
recent years: Materials engineering, production and process engineering as
well as product and components engineering. Our subsidiaries Vogler and
Goletz are implementing the new project together - a significant milestone
for our new equity holding."

Nanogate will benefit from the expansion of its value chain with the major
new order. As an innovative partner to major companies, Nanogate provides a
full range of services - from developing and designing the component, to
manufacturing the high-tech component, right through to multifunctional
enhancement. The complex component for the centre console of an SUV
consists of several elements, such as panels and control elements for the
air conditioning system.

Meanwhile, Nanogate has also completed the transaction to acquire a 75 %
stake in the plastics specialist Walter Goletz GmbH, after the transaction
was agreed upon back in April.