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Grammer H1 EBIT Rose 19.8% To EUR 50.2 Mln
Ningbo Jifeng Auto Parts Revises Plan To Acquire Project Firm
Grammer Q1 Net Profit Down At EUR 11.6 Million
GRAMMER AG is a Germany-based company that is active in the automobiles and auto parts sector. The Company develops and manufactures components and systems for automobile interiors, as well as driver and passenger seats. It is organized into two business segments: Automotive and Seating Systems. The Automotive segment supplies headrests, armrests, and center consoles, and the Seating Systems segment provides driver seats for trucks and off-road vehicles, including tractors and agricultural machinery, construction machinery and fork-lifts, as well as driver and passenger seating solutions for trains, coaches and inter-urban buses. The Company operates approximately 40 product and distribution sites in Europe, North America, Latin America, Asia and Africa.
Textiles - Non Apparel
Chairman of the Supervisory Board
Chief Executive Officer, Member of the Executive Board
Vice Chairman of the Supervisory Board, Employee Representative
Chief Financial Officer, Member of the Executive Board
Chief Operating Officer, Member of the Executive Board
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Auto supplier Ningbo Jifeng Auto Parts <603997.SS> is aiming to buy German rival Grammer <GMMG.DE> in an agreed deal at a time when Chinese takeovers face increased scrutiny from German and European authorities eager to protect domestic know-how.
China's Ningbo Jifeng Auto Parts Co Ltd <603997.SS> is in talks to buy Grammer AG <GMMG.DE> in a deal that would value the German auto supplier at around 752 million euros (656 million pounds), Grammer said in a statement.
* GRAMMER THE EXCLUSIVE SUPPLIER FOR A LEADING US PRODUCER OF MATERIAL HANDLING EQUIPMENT
* DGAP-NEWS: GRAMMER SUCCESSFUL IN 2017 WITH RECORD REVENUE AND IMPROVED PROFITABILITY
* DGAP-NEWS: GRAMMER AG: GRAMMER WITH HIGHER REVENUE AND IMPROVED OPERATING PROFITABILITY IN 2017 AGAIN DESPITE MORE DIFFICULT UNDERLYING CONDITIONS
* Says major shareholder Wing Sing international Co Ltd's unit JAP Capital Holding GmbH hiked stake in Germany's Grammer AG to 25.51 percent
China's Ningbo Jifeng Auto Parts Co <603997.SS> wants to increase its stake in German automotive interiors maker Grammer AG <GMMG.DE> to more than 25 percent, a source with knowledge of the situation told Reuters on Tuesday.
* GRAMMER - BIFENG WU, WING SING INTL CO., LTD., JAP CAPITAL LIMITED,JAP CAPITAL HOLDING GMBH INTEND TO OBTAIN FURTHER VOTING RIGHTS
German automotive interiors maker Grammer AG <GMMG.DE> said it expects orders at its automotive business to fall well short of its annual target as a recent power struggle with its top shareholder discouraged car manufacturers from placing orders.
* GRAMMER WITH A FURTHER INCREASE IN REVENUE AND OPERATING PROFITABILITY
* Says major shareholder Wing Sing international Co Ltd's unit JAP Capital Holding GmbH hiked stake in Germany's Grammer AG to 20 percent
* REGIONAL COURT OF NUREMBERG-FÜRTH DISMISSES INJUNCTION PETITIONED BY PREVENT GROUP
* HIGHER REGIONAL COURT OF NUREMBERG DISMISSES CASCADE'S REQUEST TO CONVENE EXTRAORDINARY GENERAL MEETING WITH FINAL AND BINDING EFFECT
* Q1 NET PROFIT AFTER TAX WAS ALSO UP SHARPLY, RISING BY 89.2 PERCENT TO EUR 14.0 MILLION (2016: 7.4)
* LEADING INDEPENDENT PROXY ADVISORS SUPPORT GRAMMER MANAGEMENT AT ANNUAL GENERAL MEETING
Bosnian auto supplier Prevent has no plans to launch a full takeover of rival Grammer AG <GMMG.DE>, and expects carmakers like Volkswagen <VOWG_p.DE> to honor their contracts, Prevent executive Christian Becker told German daily Handelsblatt.
German auto supplier Grammer AG on Thursday warned that the creeping influence of a Bosnian investor has led to a decline in automotive orders and could pose a risk to the company's viability.
* Regional Court of Nuremberg-Fürth has lifted the enforcement of the interim injunction against Grammer AG
Efforts by German automotive interiors maker Grammer to dilute the influence of Bosnian activist investor Hastor were dealt a blow after the group blocked China's Ningbo Jifeng Auto Parts Co Ltd. from gaining a 9.2 percent voting stake.
* Outlook for 2017: further growth accompanied by rising profitability
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.