Pankl Racing Systems AG
Pankl Racing Systems AG: Pankl acquires US-based crankshaft supplier Superior Crankshaft LP
Pankl Racing Systems AG / Key word(s): Acquisition 27.07.2011 08:00 Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Pankl Racing Systems AG - Pankl acquires US-based crankshaft supplier Superior Crankshaft LP Kapfenberg, 27 July 2011 - 100% takeover of crankshaft supplier - Further improvement of market position as systems supplier - SP Crankshaft to be renamed to 'Pankl Engine Systems Inc' Pankl Racing Systems AG focuses on the development and production of engine and drivetrain systems for motor racing, high performance vehicles and aerospace. Its US-subsidiary Pankl Engine Systems, Inc. acquires the California based crankshaft supplier Superior Crankshaft LP ('SP'). The company is based in Irvine, California, and was founded by Mr. Gerold Pankl in 2004. SP produces crankshafts for the high end motor racing market. Its customers are teams from all major racing categories, such as F1, Nascar, Le Mans prototypes, DTM. Mr. Gerold Pankl founded Pankl Racing Systems AG in 1985 and was its major shareholder until 2004. Health reasons are the major factor for the 2 companies he both founded to be brought together. 'This takeover is a further step to extend our product portfolio in the engine division. We can now provide our customers with full systems capabilities for the entire crank assembly. SP has built market leadership in the high end market. In the area of product development, we have already been working together very closely. In many customer projects our engine components (connecting rods, screws, pistons, piston pins and bearing shells) are combined with SP crankshafts. For these reasons we consider this acquisition a logical further step,' explains Wolfgang Plasser, CEO of Pankl Group. For further information: Investor Relations Tel.: +43 3862 33 999 317 e-mail: ir@pankl.com Internet: www.pankl.com 27.07.2011 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: Pankl Racing Systems AG Industriestraße West 4 8605 Kapfenberg Austria Phone: +43 3862 33 999 -317 Fax: +43 3862 33 999 -810 E-mail: ir@pankl.com Internet: www.pankl.com ISIN: AT0000800800 WKN: 914732 Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Open Market in Frankfurt; Wien (Amtlicher Handel / Official Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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