12-20-2013 SGL Group Sells Rotor Blade Activities Strategic investor takes over SGL Rotec at Lemwerder site with around 550 employees
Close cooperation with SGL Group continues as supplier of carbon and glass fiber materials and in development activities
SGL Group refocuses in Carbon Fibers & Composites (CFC) on its core compency material development and production
Wiesbaden, December 20, 2013. SGL Group The Carbon Company signed a contract with a strategic investor for the sale of its 100% stake in SGL Rotec GmbH & Co. KG (SGL Rotec). It has been agreed not to disclose the purchase price or contractual details. The acquisition is expected to be completed by December 31, 2013.
Dr. J rgen K hler, designated CEO of SGL Group: As part of the strategic repositioning of SGL Group, we are pulling out of rotor blade production and have sold our 100% stake in SGL Rotec. In future, we will in the carbon fiber business focus more strongly on our core competency of material development and production.
As part of this transaction, the SGL Rotec site in Lemwerder (Lower Saxony), which currently employs approx. 550 people, will be completely acquired. The new owner is planning to expand the production and the site.
A spokesperson of the investor says: The employees of SGL Rotec are pioneers when it comes to processing carbon for the wind industry; they contribute to the further improvement of the global reputation of Made in Germany', particularly regarding modern environmental technologies. Our focus is on continuity and we will proceed on the path which SGL Group has embarked upon and grow further.
The new owners will personally present themselves to the employees at the beginning of January. At this time, the new managing director will take over the business activities. As of January 2014, the company will operate under the brand name Carbon Rotec .
SGL Rotec is a leading, independent built-to-print manufacturer of high-quality rotor blades for wind turbines and can count leading wind turbine producers among its customer base. The Company is a pioneer in the use of new materials such as carbon fibers which, in conjunction with semiautomatic machining technology, allow for lighter, slimmer and at the same time more stable rotor blades specially designed for offshore applications and low-wind areas. For the future, a continued close cooperation with SGL Group as a supplier of carbon and glass fiber materials and regarding the development activities is planned. Existing customer orders will be fulfilled independently of the transaction.
Focus on core competencies in the CFC value chain
Since its investment in 2008, SGL Group refocused SGL Rotec on the production of large rotor blades with a length of up to 60 meters, additionally investing in state-of-the-art production and process technology. The number of employees has increased from 300 in 2008 to the currently around 550.
About SGL Group - The Carbon Company SGL Group is one of the world's leading manufacturers of carbon-based products and materials. It has a comprehensive portfolio ranging from carbon and graphite products to carbon fibers and composites. SGL Group's core competencies are its expertise in high-temperature technology as well as its applications and engineering know-how gained over many years. These competencies enable the Company to make full use of its broad material base. SGL Group's carbon-based materials combine several unique properties such as very good electrical and thermal conductivity, heat and corrosion resistance as well as high mechanical strength combined with low weight. Due to industrialization in the growth regions of Asia and Latin America and increased substitution of traditional with innovative materials, there is a growing demand for SGL Group's high-performance materials and products. Products from SGL Group are used predominantly in the steel, aluminum, automotive and chemical industries as well as in the semiconductor, solar and LED sectors and in lithium-ion batteries. Carbon-based materials and products are also being used increasingly in the wind power, aerospace and defense industries.
With 44 production sites in Europe, North America and Asia as well as a service network covering more than 100 countries, SGL Group is a company with a global presence.In 2012, the Company's workforce of around 6,700 employees generated sales of 1,709 million.The Company's head office is located in Wiesbaden.
Further information on the SGL Group can be found online at: www.sglgroup.com.
Important note: This press release may contain forward-looking statements based on the information currently available to us and on our current projections and assumptions. By nature, forward-looking statements involve known and unknown risks and uncertainties, as a consequence of which actual developments and results can deviate significantly from these forward-looking statements. Forward-looking statements are not to be understood as guarantees. Rather, future developments and results depend on a number of factors; they entail various risks and unanticipated circumstances and are based on assumptions which may prove to be inaccurate. These risks and uncertainties include, for example, unforeseeable changes in political, economic, legal, and business conditions, particularly relating to our main customer industries, such as electric steel production, to the competitive environment, to interest rate and exchange rate fluctuations, to technological developments, and to other risks and unanticipated circumstances. Other risks that in our opinion may arise include price developments, unexpected developments connected with acquisitions and subsidiaries, and unforeseen risks associated with ongoing cost savings programs. SGL Group does not intend or assume any responsibility to revi
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12-20-2013 SGL Group Sells Rotor Blade Activities Strategic investor takes over SGL Rotec at Lemwerder site with around 550 employees
