Grammer AG: Contract signed for new joint tech center in India

DGAP-News: Grammer AG / Key word(s): Miscellaneous Grammer AG: Contract signed for new joint tech center in India 07.12.2018 / 11:50 The issuer is solely responsible for the content of this announcement. Grammer AG: Contract signed for new joint tech center in India - Grammer and AllyGrow Technologies establishing joint tech center in India - Modern R&D tech center to be established in Pune with a maximum capacity of 120 employees - Inauguration planned in December 2018 Amberg, December 7, 2018 - The Grammer Group, a leading global supplier of components for passenger vehicle interiors and of seats for commercial vehicles, has completed a further significant step in the implementation of its strategy for research and development (R&D). In August of this year, it had previously announced the establishment of a joint venture in India. This has now been followed by signing of the contract with an Indian engineering service provider - AllyGrow Technologies, for the establishment of a joint tech center in Pune situated in western part of India. Important milestone reached in the implementation of the global R&D strategy Pune is considered to be the "Oxford of the East" due to the presence of several internationally renowned educational institutions and is also well known for the availability of abundant competent and experienced automotive engineers. Moving forward, the new joint tech center in Pune will make significant contributions towards boosting Grammer's global R&D performance and efficiency. This step will enhance the overall potential for lowering costs and reducing the volume of external services, thereby enabling a sustained development of internal expertise within Grammer R&D. Moreover this joint tech center will allow Grammer R&D to adapt to the changes that need to be made in the light of steadily growing market requirements. To be known as "AllyGram Systems and Technologies", the new joint tech center will be providing engineering services for Grammer's global sites. The "AllyGram Systems and Technologies" joint venture will be based in a new and modern office at Blueridge Qubix Business Park in Pune and is expected to go into operation in December 2018. Designed for the future, the state-of-the-art joint tech center will have a maximum capacity of 120 employees. "Flexible and efficient global R&D structures are of crucial importance for Grammer so that we can take our innovative products to market swiftly and efficiently. The new joint tech center in India that we have established with our partner AllyGrow Technologies will help us substantially to achieve this. Looking forward, our activities in India will allow us to continue optimizing our development processes in the light of our R&D strategy, assert ourselves against our competitors in key markets in Europe, Asia and North America and help us to reinforce our market position with innovative products and technologies," says Dr. Michael Borbe, Vice President Global R&D at Grammer. Grammer's new partner, AllyGrow Technologies, is a global engineering service provider that focuses on offering core product and manufacturing engineering services to the automotive, heavy engineering and aerospace industries. With over six facilities around the world, it has approximately 300 engineers catering to the engineering needs of customers globally. Company profile Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspended driver and passenger seats for onroad and offroad vehicles. In the Automotive Division, we supply headrests, armrests, center console systems, high-quality interior components, operating systems and innovative thermo-plastic solutions to premium automakers and automotive system suppliers. The Commercial Vehicles Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats. With round about 15,000 employees, Grammer operates in 19 countries around the world. Grammer shares are listed in the Prime Standard and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra. Contact: GRAMMER AG Ralf Hoppe Phone: [phone] [e-mail] 07.12.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
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

End of News	DGAP News Service

755543  07.12.2018