SHW AG / Key word(s): Agreement/Contract PRESS RELEASE SHW AG and Shandong Longji Machinery Group have signed a framework agreement to draw up a joint venture contract Aalen, 2 June 2014. SHW AG has signed a framework agreement for its Brake Discs business segment to draw up a joint venture contract with the listed Chinese Shandong Longji Machinery Group. The agreement has a validity of six months. The Brake Discs business segment of SHW AG develops and manufactures monobloc ventilated brake discs made of cast iron as well as high-performance lightweight brake discs for the high-end and upper mid-range car segment as well as for sports cars. These consist of a composite of an iron friction ring and an aluminum pot. The Shandong Longji Machinery Group, headquartered in Longkou, China, develops and manufactures brake discs and drums as well as brake linings for passenger cars and heavy duty vehicles for the Chinese and international markets. About SHW The business was established in 1365, making it one of the oldest industrial enterprises in Germany. Today, SHW AG is a leading automotive supplier with products that contribute substantially to a reduction of fuel consumption and consequently CO2 emissions. In its Pumps and Engine Components business unit, the SHW Group develops and produces pumps for passenger vehicles and truck and off-highway applications, e.g. trucks, agricultural and construction vehicles, stationary motors and wind farms, as well as engine components. The Brake Discs business unit develops and produces monobloc vented brake discs made of cast iron and lightweight brake discs made from a combination of an iron friction ring and an aluminium pot. Customers of the SHW Group include leading European and North American car manufacturers, manufacturers of commercial, construction and agricultural machinery and other automotive suppliers. The SHW Group currently has four manufacturing sites in Germany. These are located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck. With just over 1,000 employees, the SHW Group generated sales from continuing operations in 2013 of 366 million euros. Further information is available at: www.shw.de Contact person Future-oriented statements Note End of Corporate News 02.06.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart | |
End of News | DGAP News-Service |
271536 02.06.2014 |