SHW AG: Manufacturer of fully electric vehicles cancels major order
24.01.2017
SHW AG / Key word(s): Miscellaneous
24-Jan-2017 / 11:10 CET/CEST
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Publication of insider information according to Article 17 MAR
SHW AG: Manufacturer of fully electric vehicles cancels major order
Aalen, 24 January 2017
In September 2016, SHW Automotive GmbH, a wholly owned subsidiary of SHW
AG, received an order from a manufacturer of fully electric vehicles as a
system supplier of electric axle drive pumps, with a lifetime sales volume
of approx. EUR 100 million (SHW ad hoc announcement of 30 September 2016).
The manufacturer has today cancelled this order and requested SHW
Automotive GmbH to cease its preparations for the start-up of series
production.
As main reason for the cancellation, the manufacturer states the non-
alignment of the technical specifications for the axle drive pumps with the
requirements of the model in question.
SHW does not consider the reasons given by the manufacturer to be valid.
SHW is therefore assessing the legal effectiveness of the order
cancellation as well as its legal consequences and reserves the right to
claim damages.
SHW continues to be confident of its ability to sustainably participate in
the development of the electromobility market.
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Language: English
Company: SHW AG
Wilhelmstrasse 67
73433 Aalen-Wasseralfingen
Germany
Phone: +49 7361 502-1
Fax: +49 7361 502-674
E-mail: ir@shw.de
Internet: www.shw.de
ISIN: DE000A1JBPV9
WKN: A1JBPV
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart,
Tradegate Exchange
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