W.E.T. Automotive Systems AG: W.E.T. Automotive Systems AG and Helbako GmbH set up joint venture for common development and manufacturing of electronic modules
(firmenpresse) - W.E.T. Automotive Systems AG / Key word(s): Enterprise/
W.E.T. Automotive Systems AG: W.E.T. Automotive Systems AG and Helbako
GmbH set up joint venture for common development and manufacturing of
electronic modules
DGAP-Media / 02.05.2011 / 18:02
W.E.T. Automotive Systems AG and Helbako GmbH set up joint venture for
common development and manufacturing of electronic modules
Munich - May 2, 2011 - W.E.T. Automotive Systems AG signed a joint venture
agreement on May 2, 2011 with Helbako GmbH for the common development and
manufacturing of electronic modules in North America.
Helbako GmbH, based in Heiligenhaus near Dusseldorf, is a renowned
developer and manufacturer of electronic control modules for various motor
vehicle applications with an annual turnover of around 45 million euros
(2010) and approximately 230 employees (2010).
This step is consistent with W.E.T.'s strategy of vertical integration of
essential functional components in thermal seat comfort. 'In the future,
together with our partner Helbako, we will be able to provide our customers
with even better service and reinforce our position as system partner,'
Caspar Baumhauer, Board Chairman, noted. 'In our strategic growth sector of
climate seat systems, this expertise will become particularly important and
we expect above average growth rates here in the coming years,' Baumhauer
added.
For Helbako this joint venture represents in turn an important step towards
globalization. 'Our customers are represented on all continents and our
suppliers produce worldwide. We too have to and want to take the step
towards globalization,' explained Helbako CEO Ralf Burmester. 'The joint
venture will strengthen Helbako's market position on a sustainable basis.
Apart from the head office in Heiligenhaus, it will provide us with an
additional mainstay and new perspectives,' Helbako's CEO continued.
The joint company will operate with independent subsidiaries at the
existing locations of W.E.T. in the US and Mexico and develop production
capacities for the special requirements of modern electronics manufacture.
Production is to begin in the second half of 2011 and will be expanded step
by step.
The Board of Directors
For further questions please refer to:
W.E.T. Automotive Systems Aktiengesellschaft
Investor Relations
Ms. Heike Weber
Rudolf-Diesel-Straße 12
85235 Odelzhausen, Germany
Phone: +49 8134 933 - 933
Fax: +49 8134 933 - 401
shareholder.office(at)wet-group.com
End of Media Release
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Language: English
Company: W.E.T. Automotive Systems AG
Rudolf-Diesel-Str. 12
85235 Odelzhausen
Deutschland
Phone: +49 (0)8134 933-933
Fax: +49 (0)8134 933-401
E-mail: shareholder.office(at)wet-group.com
Internet: www.wet-group.com
ISIN: DE0005081608
WKN: 508160
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP-Media
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122439 02.05.2011
Datum: 02.05.2011 - 18:02 Uhr
Sprache: Deutsch
News-ID 33930
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Kategorie:
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