DGAP-News: Top supplier award for Grammer
08.02.2018 (www.4investors.de) -
DGAP-News: Grammer AG / Key word(s): Miscellaneous
Top supplier award for Grammer
08.02.2018 / 15:19
The issuer is solely responsible for the content of this announcement.
Top supplier award for Grammer- Grammer receives top supplier award from leading Chinese truck OEM Shaanxi
- Grammer successful with local production strategy for national OEMs
- Strong strategic position in China and the rest of Asia
Amberg, February 8, 2018 - Grammer, a leading international supplier of components for passenger vehicle interiors and commercial vehicle seats, has received confirmation of its strategy aimed at local production for national OEMs in China. At the "2018 National Supplier Conference", which was attended by several hundred selected components suppliers, the Shaanxi Group named Grammer Seating as one of its strategic Top 5 suppliers in the "High Efficient Collaboration" segment. The award, which Shaanxi bestows annually on its best suppliers, underscores the important strategic position that Grammer holds in Shaanxi's supply chain.
As one of the leading heavy-duty truck OEMs and the Number 2 in the trailer market in China, Shaanxi produces more than 190,000 trucks, including around 170,000 heavy-duty models, each year for the local market and for export to other Asian countries, Africa and Latin America.Grammer expanding presence in China sharply
In China, the world's largest market for commercial vehicles, almost three quarters of a million heavy-duty trucks are produced each year - equivalent to more than a third of the entire global truck output. With local development capabilities and a total of three facilities for the production of localized commercial vehicle seats in China, Grammer possesses an outstanding platform for additionally growing its customer base and market position in China and the rest of the Asian market. Already now, Grammer generates around 15 percent of its Group revenue in APAC. Established in 2016 with Shaanxi, the Grammer Seating joint venture marked a key milestone in Grammer's global growth strategy. Under the joint venture with Shaanxi, Grammer is assembling a wide range of mechanical and air-suspension driver and passenger seats locally. Most of these are for integration in the commercial vehicles built by Shaanxi. In addition, Grammer is currently also working closely with Shaanxi in the logistics area.
Grammer Group will publish its preliminary business figures for the year 2017 on February 20, 2018. The annual report 2017 will be published on March 21, 2018.
Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspension driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console systems and high-quality interior components and operating systems to premium automakers and automotive system suppliers. The Commercial Vehicle Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats. With over 12,000 employees, Grammer operates in 19 countries around the world.
Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra.
Phone: 0049 9621 66 2200
08.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
+49 (0)9621 66-0
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