Grammer AG has aquired EiA Electronics N.V.,Tuesday July 26, 2011
Ad hoc announcement pursuant to section 15 WpHG
GRAMMER AG (WKN 589540, ISIN DE0005895403)
Amberg, July 26, 2011 - Grammer AG, leading supplier of automotive interiors and seating systems, has aquired 100% of equity in Belgian electronics specialist EiA Electronics N.V., based in Aartselaar, Belgium, from VADO (van doorne’s) Financieringsmaatschappij N.V. and DACO N.V., the previous owners. With the purchase, Grammer is expanding its technological competence in the area of electronics. EiA Electronics specializes in development, integration and distribution of electronic components for commercial vehicles.
The acquisition of EiA Electronics is a further step of Grammer Group’s declared medium-term strategy of expansion along the value chain.
EiA Electronics has roughly 50 employees and generated revenue of approximately EUR 20 million in 2010. The company will remain as a brand within Grammer Group. Grammer paid EUR 10.5 million for the acquisition of EiA Electronics, financed by proceeds from the capital increase by Grammer AG in April of this year.
The Executive Board