22 November 2011
22 November 2011
BMW has secured a 15.16% stake in SGL Carbon SE Munich.
BMW say they are strengthening their focus on lightweight construction and the use of carbon fibre reinforced plastics (CFRP) in automobile manufacture. The BMW Group and the SGL Group are already collaborating successfully in the framework of a joint venture.
“Lightweight construction will play an increasingly important role in the automobile industry in the future. Our stake-holding in the SGL Group is a logical step that will further strengthen our successful cooperation,” stated Friedrich Eichiner, member of the Board of Management, responsible for Finance, in Munich on Friday. The company is not disclosing the financial details of the transaction. The BMW AG says they will not seek a seat on the Supervisory Board of SGL Carbon SE.
The BMW Group explain that they operate a joint venture with SGL Group whereby the SGL Group holds 51% and the BMW Group 49 % of shares in the joint company, SGL Automotive Carbon Fibres. The two partners have built a new state-of-the-art carbon fibre manufacturing plant together in Moses Lake in Washington State in the US.
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