SGL Carbon SE is acquiring BMW Group's 49% equity investment in the joint ventures SGL Automotive Carbon Fibers GmbH & Co. KG (Germany) and SGL Automotive Carbon Fibers LLC (US) – together referred to as ' SGL ACF'.
An agreement on this matter was signed by SGL Group and BMW Group today. Once the deal has been completed, SGL Group will be the sole owner of SGL ACF. As is customary, the transaction is subject to approval from the respective authorities.
"We are proud of the pioneering work that we have carried out with BMW Group on lightweight construction for the automotive sector. The carbon fibers made at our plant in Moses Lake and the fabrics that are produced from them at the Wackersdorf site have proven very successful. It is now time to fully integrate this expertise into SGL Group's value chain," says Jürgen Köhler, Chief Executive Officer of SGL Group.
Carbon fibers and carbon fiber materials are at the core of SGL Group's corporate strategy. By acquiring SGL ACF now, SGL Group is forging ahead with its strategy to consolidate all key activities in the value chain – from carbon fibers and materials to components – within the SGL Group, giving it overall responsibility. As announced two weeks ago, BENTELER-SGL is being acquired for the same reason.
The changes in the shareholder structure of SGL ACF will not have any direct impact on its workforce, which currently totals around 450 employees.
“BMW Group will continue to rely on lightweight construction and an intelligent mix of materials, with carbon remaining a significant component,” explains Markus Duesmann, member of the Board of Management at BMW AG with responsibility for purchasing and supplier network. Carbon will also play an important role in the BMW iNEXT, which will set the benchmark for electric vehicles, autonomous driving, connectivity, and lightweight construction from 2021. “SGL Group is and will remain a major supplier and strategic partner in this regard,” adds Duesmann.
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24 November 2017
