DGAP-News: SHW AG / Key word(s): Incoming Orders
SHW AG: First major order from world's leading manufacturer of fully electric vehicles
- Lifetime sales: approx. EUR 100 million
- Planned start of production: first half of 2017
- SHW successfully enters the market of purely electric vehicles
Aalen, 30. September 2016. SHW Automotive GmbH, a SHW Group company, has received a new order from the world's leading manufacturer of fully electric vehicles as a system supplier of electric axle drive pumps, with a lifetime sales volume of approx. EUR 100 million. Thereby SHW has succeeded in prevailing against strong international competition. "We are delighted about the trust which our client has placed in us and with its belief in our team and our product solution," says Dr Frank Boshoff, Chief Executive Officer of SHW AG.
As a manufacturer of hydraulic oil pumps, SHW AG has thus won the most important large-scale contract currently put out to tender for pump applications for fully electric vehicles. "Pump technology will also play an important role for the drivetrain, the brake system and the cooling system in fully electrically driven vehicles," Dr Boshoff emphasises.
The electric front- and rear-axle drive pumps for primarily all-wheel-drive electric vehicles will be assembled at the company's Bad Schussenried plant. The start of production (SOP) is currently scheduled for the first half of 2017. Based on current planning, the production is oriented on a period of at least 5 years.
This major order shows that SHW's product range strongly reflects the increasing variety of drivetrain concepts. This contract also represents the company's entry into the market of purely electric vehicles and - alongside its current product portfolio - is a further milestone on its path to profitable and capital-efficient growth.
The Company was established in 1365 making it one of the oldest industrial companies in Germany. Today, SHW AG is a leading automotive supplier providing products that make a substantial contribution to reducing fuel consumption and, consequently, to lowering CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger vehicles and industry applications (e.g., trucks, agricultural and construction vehicles, stationary engines and wind farms) as well as engine components. The Brake Discs business segment develops and produces monobloc ventilated brake discs made of cast iron and composite brake discs made of a combination of an iron friction ring and an aluminium pot. The SHW Group's customers include renowned automotive manufacturers, manufacturers of commercial, agricultural, and construction vehicles as well as other suppliers to the automotive industry. Currently, the SHW Group has four production sites in Germany located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck, one site in Brazil (Sao Paulo) and China (Kunshan) and has a sales and development centre in Toronto, Canada. Besides, SHW Automotive GmbH also holds a 51 per cent interest in the joint venture SHW Longji Brake Discs (LongKou) Co., Ltd., in LongKou, China. With just over 1,250 employees, the Company generated Group sales in fiscal year 2015 of EUR 463 million. Further information is available at: www.shw.de
This press release contains certain future-oriented statements that are based on current assumptions and forecasts made by the management of SHW AG. Various known and unknown risks, uncertainties and other factors may lead to the actual results, financial position, development or performance of the company deviating considerably from the appraisals specified here. The company assumes no obligation to update future-oriented statements of this nature or adapt them to future events or developments.
This announcement is for information purposes only and does neither constitute an offer to sell, purchase, exchange or transfer any securities nor a solicitation of any offer to sell, purchase, exchange or transfer any securities.
The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. SHW AG does not intend to register any securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with this announcement.
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