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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Gestamp Automoción, S.A.    GEST   ES0105223004

GESTAMP AUTOMOCIÓN, S.A.

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Gestamp Automocion : and BHAP start its Joint Venture by opening a new plant in China

11/15/2018 | 03:49am EST

11.15.2018

The Joint Venture of the Spanish multinational Gestamp specialized in the design, development and manufacture of highly engineered metal components for the automotive industry and the Chinese metal components company Beijing Hainachuan Automotive Parts Co. Ltd. (BHAP) has just started its operations with the opening of a new plant in Tianjin.

The new alliance enhances Gestamp's strategic positioning, in order to continue to support Daimler and Hyundai, among other international clients, in the Beijing, Tianjin and Hebei areas. In addition, Gestamp will work with all the rest of clients in other provinces of the country and as well as BAIC's own vehicle brands across China, as BHAP is a subsidiary of BAIC Group.

Mr. Francisco J. Riberas, Executive Chairman of Gestamp, stated in the opening today: 'The new Tianjin plant strengthens our position in China together with our partners from BHAP. We are fully committed to bring the latest technologies to the Chinese automotive market in order to make lighter and safer cars.'

'This state-of-the-art plant that we are inaugurating today in Tianjin seeks to further enhance product quality including the latest innovations in Hot Stamping and complements local suppliers with a high-tech product offering. Hence, we are in an excellent position to reinforce our existing commercial projects with our international customers and with local Chinese brands that are strongly focusing in Electrical Vehicle, where Gestamp has an important impact,' Mr. Riberas added.

Mr. Cai Suping, Vice President and Deputy General Manager of BAIC Group, Chairman of BHAP, explained that 'the collaboration with Gestamp is an important movement to focus on lighter technology trend, optimizing our industrial supply chain, speeding up the transformation and upgrading our products. BHAP will work closely with our partners.'

Tianjin plant reinforces Gestamp's presence in China

The Tianjin plant has involved an investment of more than €50m (390 M RMB), with a workforce of more than 250 employees and will mainly focus on stamping and assembly of Body-in-White and Chassis components. The plant includes two Hot Stamping lines, technology in which Gestamp is a global leader with more than 90 lines worldwide, and nine laser cells, which could increase depending on future projects.

The start of operations of the Tianjin plant increases Gestamp's industrial footprint in China to 11 production facilities and 2 R&D centres. This opening reinforces the Company's strategy to strengthen its collaboration with international as well as local OEMs in China.

The opening of this new plant underlines Gestamp's commitment to grow in China, which is the largest market in the automotive industry in terms of production. During 2017, the Group sales in China totalled €736m (5,800 M RMB) with a workforce of over 5,100 employees. Between 2013 and 2017, Gestamp has invested more than €360m (2,800 M RMB) in the country.

Disclaimer

Gestamp Automocion SA published this content on 15 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 November 2018 08:48:07 UTC


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Sales 2020 7 379 M 8 939 M 8 939 M
Net income 2020 -109 M -132 M -132 M
Net Debt 2020 2 792 M 3 383 M 3 383 M
P/E ratio 2020 -19,0x
Yield 2020 0,18%
Capitalization 2 009 M 2 428 M 2 434 M
EV / Sales 2020 0,65x
EV / Sales 2021 0,55x
Nbr of Employees 39 564
Free-Float 26,9%
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 3,32 €
Last Close Price 3,50 €
Spread / Highest target 22,9%
Spread / Average Target -5,21%
Spread / Lowest Target -28,6%
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Managers
NameTitle
Francisco López Peña Chief Executive Officer & Executive Director
Francisco José Riberas Mera Executive Chairman
Carmen de Pablo Redondo Chief Financial Officer
Juan María Riberas Mera Vice Chairman
Gonzalo Urquijo Fernández de Araoz Director
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