Press release, Åseda, October 18 2006
ProfilGruppen acquires shareholding in the German company PWG, Europe’s
leading supplier of aluminium guides for sunroof system to the automotive industry
ProfilGruppen AB acquires 18 per cent shareholding in the German company PWG (Profilrollen-Werkzeugbau GmbH&Co.KG), the leading supplier in Europe of aluminium guides for sunroof systems to the automotive industry. As a part of this transaction PWG will take over its Dutch competitor Realpro, in which company ProfilGruppen has held a 40 percent shareholding. ProfilGruppen’s payment for its shareholding in PWG consists of 1.1 MEUR in cash payment plus its 40 per cent shareholding in Realpro.
PWG has its headquarter in German Stockheim and production facilities are located in German Neuhaus-Schierschnitz and in Aynor, South Carolina, USA. The company has modern production facilities with focus on technical development and advanced machining and bending of aluminium profiles. PWG will after the take over of Realpro have an estimated turnover of 48 MEUR for 2006 and 310 employees. The company will have a market share in Europe of 40 per cent and a 20 per cent share of the US market. Main shareholder of PWG is Mr Alfred Sholz, President and CEO of PWG.
Increased sales to the automotive industry
- When we in 2004 acquired our shareholding in Dutch Realpro we maintained our position as main supplier of aluminium profiles for Inalfa Roof System, one of the leading system suppliers of sunroofs for the automotive industry. Now when becoming shareholder in PWG we will sign a cooperation agreement with the aim of ProfilGruppen becoming PWG´s future main supplier. We will therefore have an exposure to the whole of this automotive segment, which is characterized by demanding more and more complex aluminium profiles. The cooperation with PWG will give us a potential for a volume increase and I find it realistic to double our sales within this segment to 100 MSEK within a three years’ period, says Nils Arthur, President and CEO of ProfilGruppen.
He continues:
The cooperation with PWG will give us valuable technical knowledge, which we also will take advantage of in our other business. With PWG’s position in the automotive industry we will improve our own position within a prioritized customer segment and at the same time take an important step in our strategy to further internationalise ProfilGruppen.
ProfilGruppen markets, develops and manufactures customised aluminium extrusions and components. Headquarter and production is located in Åseda, Småland, Sweden. The Group has 470 employees. ProfilGruppen AB was listed on the Stockholm Stock Exchange in June 1997.