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DGAP-Adhoc: Grammer AG is in advanced negotiations to establish a Joint Venture with Changchun FAWSN Group Co., Ltd.

eqs_en 
0 0 24.10.19
DGAP-Adhoc: Grammer AG is in advanced negotiations to establish a Joint Venture with Changchun FAWSN Group Co., Ltd.: http://s3-eu-west-1.amazonaws.com/sharewise-dev/attachment/file/24104/266px-Grammer_AG_Logo.svg.png
 

DGAP-Ad-hoc: Grammer AG / Key word(s): Joint Venture
Grammer AG is in advanced negotiations to establish a Joint Venture with Changchun FAWSN Group Co., Ltd.

24-Oct-2019 / 16:51 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Disclosure of inside information according to Art. 17 MAR of the Regulation (EU) no. 596/2014
GRAMMER AG (WKN 589540, ISIN DE0005895403)

Grammer AG is in advanced negotiations to establish a Joint Venture with Changchun FAWSN Group Co., Ltd.

Amberg, October 24, 2019 - Grammer AG ("Grammer") is in advanced negotiations to establish a Joint Venture in Changchun (China) for automotive interior components with Changchun FAWSN Group Co., Ltd., an affiliated company of FAW Group. Grammer will be holding 50 percent of the future Joint Venture Changchun GRAMMER FAWSN Vehicle Parts Co., Ltd. The other 50 percent will be held by Changchun FAWSN Group Co., Ltd.

The Joint Venture will be producing a wide range of automotive interior components which will
be primarily fitted to the vehicles produced by FAW Group. FAW Group is the 3rd largest Chinese OEM and had last year with its own brands and its other joint venture partners a double digit market share in the world's largest automotive market. Grammer expects substantial future business volumes to be realized from this Joint Venture.

Grammer AG
Executive Board




Contact:
GRAMMER AG
Boris Mutius
Phone: 0049 9621 66 2200
[email protected]

24-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Grammer AG
Georg-Grammer-Str. 2
92224 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: [email protected]
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
EQS News ID: 896531

 
End of Announcement DGAP News Service

896531  24-Oct-2019 CET/CEST

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Grammer AG Stock

€7.15
-0.700%
The price for the Grammer AG stock decreased slightly today. Compared to yesterday there is a change of -€0.050 (-0.700%).

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EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




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