Grammer : planning new joint technology center in India

DGAP-News: Grammer AG / Key word(s): Miscellaneous Grammer planning new joint technology center in India 01.08.2018 / 13:06 The issuer is solely responsible for the content of this announcement. Grammer planning new joint technology center in India - Further optimization of R&D structures with new technology center in Pune - Joint venture with new partner AllyGrow Technologies Amberg, August 1, 2018 - As one of the leading automotive interior specialists, the Grammer Group is known for its innovative and high-quality products. The basis for this are its global research and development (R&D) activities that it has steadily expanded over the last few years under the global Grammer strategy. With these highly efficient global R&D structures, the Grammer Group is able to compete with its peers in key markets in Europe, Asia and North America and to additionally reinforce its market position with innovative products and technologies. Grammer is now completing a further important milestone in its R&D strategy. Looking forward, external support services for development projects are to be pooled at a single site and allocated across a small number of specialized development service providers. For this purpose, Grammer will be establishing a new R&D facility in India under a joint venture forged with an experienced local partner. Based in the city of Pune in western India, where many of Grammer's customers are located, the new joint technology center will be handling specialized R&D tasks. The new joint technology center will be particularly responsible for R&D activities which are currently being primarily executed by external service providers. The contract for the joint venture is expected to be signed in the third quarter of 2018. Grammer's new partner, AllyGrow Technologies, is one of the leading development service providers in the automotive, engineering and aerospace segments. With six facilities around the world, it has some 300 engineers who have been active in India for many years. "The optimum deployment of R&D resources is of crucial importance for Grammer's continued successful growth so that the numerous new projects and product innovations can be taken to market swiftly and efficiently. With the establishment of our joint venture in India, we will continue to optimize our development processes under the R&D strategy and substantially improve the efficiency of our global R&D structures," says Hartmut Müller, Chief Executive Officer of Grammer AG. Company profile Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspension driver and passenger seats for onroad and offroad vehicles. In the Automotive Division, we supply headrests, armrests, center console systems and high-quality interior components and operating systems to premium automakers and automotive system suppliers. The Commercial Vehicle Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats. With 13,000 employees, Grammer operates in 19 countries around the world. Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra. Contact: GRAMMER AG Ralf Hoppe Phone: [phone] [e-mail] 01.08.2018 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
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange

End of News	DGAP News Service

709981  01.08.2018