Pankl Racing Systems AG
Pankl Racing Systems AG enters turbo supercharger-business and acquires stake in APC – Advanced Propulsion Concepts GmbH
Pankl Racing Systems AG / Key word(s): Mergers & Acquisitions Pankl Racing Systems AG enters turbo supercharger-business and acquires stake in APC – Advanced Propulsion Concepts GmbH Kapfenberg, 1 October 2012
Pankl Racing Systems AG concluded a share sale and purchase agreement with the German turbo-supercharger development company APC-Advanced Propulsion Concepts GmbH and its shareholders. Pankl will acquire a 51% stake in a 2- step transaction. Pankl and APC will together develop the turbo supercharger business for motor racing. APC founder Professor Hans-Peter Schmalzl about the co-operation: 'As a young company we specialised in high technology applications in niche markets from the very start. Especially motor racing provides us with excellent future perspectives. We consider our co-operation with Pankl Racing Systems AG an excellent opportunity to further strengthen our market position and to substantially accelerate our growth momentum.' Pankl CEO Wolfgang Plasser is delighted: 'We have been seeking to enter the promising turbo supercharger business since 2007. Now we have found the ideal partner in APC. The combination of the extensive APC knowhow with our production capabilities, global presence and networks opens significant possibilities.'
For further information: End of Corporate News 01.10.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory 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: | Pankl Racing Systems AG | |
Industriestraße West 4 | ||
8605 Kapfenberg | ||
Austria | ||
Phone: | +43 3862 33 999 -0 | |
Fax: | +43 3862 33 999 -181 | |
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 News | DGAP News-Service |
187083 01.10.2012 |