Hörmann Industries GmbH: HÖRMANN Automotive sells subsidiary to focus on key segment of metal processing

• Contract for sale of HÖRMANN Automotive Wackersdorf GmbH signed
• All employees and management to be taken over by new owner, ncdh Group AG, Switzerland
• HÖRMANN Automotive Division to focus on strengths and core competencies in metal processing

Kirchseeon, 4 August 2023 – HÖRMANN lndustries GmbH (corporate bond, WKN: A2TSCH and A351U9) announces that HÖRMANN Automotive GmbH signed a contract for the sale 100% of the shares in HÖRMANN Automotive Wackersdorf GmbH (HAW) the previous evening. The sale is being made to ncdh Group AG, a Swiss family-owned company, which operates successfully in the market, including in the Machines Business Unit. The parties have agreed not to disclose the purchase price and the contractual details. The execution of the contract is subject to conditions precedent. The transaction is expected to be closed by the end of September.

The reason for the sale is that HÖRMANN Automotive Wackersdorf GmbH, which focuses on the assembly of modules and systems for the automotive industry and the assembly of charging stations for electric vehicles, no longer fits into the strategic positioning of HÖRMANN Automotive. Going forward, the Division will focus more strongly on its core competencies in the development and production of technologically sophisticated metal components and modules for the European commercial vehicle industry.

The decision to sell the subsidiary is the result of a thorough analysis of various options and the strategic realignment. “The sale of HÖRMANN Automotive Wackersdorf GmbH is an important step for the Automotive Division to secure its long-term competitiveness in view of the structural transformation in the commercial vehicle industry,” said Dr. Michael Radke, CEO of the HÖRMANN Group.

He added: “The ncdh Group is a Swiss family-owned company that shares the same, long-term values as the HÖRMANN Group and will provide an excellent new home with high growth potential for the approximately 60 employees who have supported HÖRMANN Automotive with great commitment and outstanding performance for more than ten years. We would like to emphasise that HAW will continue to meet its obligations to its customers and partners on the basis of the agreements reached. The transition to the new owner will be carefully planned and supported by HÖRMANN Automotive.”

For the buyer, the ncdh Group, the employees of HÖRMANN Automotive Wackersdorf GmbH are of central importance. The entire workforce and the management will be retained. Moreover, the company will be sustainably developed as part of the Machines Business Unit and grow dynamically as part of the ncdh Group. “I am delighted to welcome the highly skilled employees of HÖRMANN Automotive Group Wackersdorf to the ncdh Group,” said Christian Hannigan, Chairman of ncdh Group AG. “HÖRMANN Automotive Wackersdorf will play a key role in our Machines Business Unit, which is currently focusing on environmentally friendly solutions for weed control (using water instead of chemicals) as well as on e-mobility for municipalities, industry and agriculture. Wackersdorf will become ncdh Group’s centre for the production of electric drive and battery modules as well as heatweed weeding machines. In addition, HÖRMANN Automotive Wackersdorf will further expand its core business as an industrial and assembly partner for sectors such as the automotive industry.”

About HÖRMANN Automotive Wackersdorf GmbH

In 2022, HÖRMANN Automotive Wackersdorf GmbH employed some 60 people and generated sales of approx. EUR 30 million. Its core competency is the industrialisation and assembly of mechanical and electronic systems for the automotive industry and of charging stations for electric vehicles. HÖRMANN acquired the company from Modine Europe in 2010 and transformed it from a highly specialised production facility for passenger car cooling modules into a flexible assembly service providers for a wide range of assemblies and systems.

About ncdh Group AG

ncdh Group is a Swiss family business rooted in the Alpine region. Since its foundation in 1987, the Group has grown continuously and today comprises eight Business Units covering various sectors, including vehicle construction, weeding machines, viticulture, agricultural technologies, organic fertilisers, printing technologies, tourism and management consultancy. Its mission is to provide customers with integrated products and solutions that combine innovation, efficiency and sustainability. ncdh Group has over 700 dedicated employees and operates in more than 40 countries. For more information, visit www.ncdh-group.com

About the HÖRMANN Group

The HÖRMANN Group has grown steadily since its formation in 1955. HÖRMANN Industries GmbH is the parent company of some 30 subsidiaries operating in the Automotive, Communication, Intralogistics and Engineering segments with a high degree of entrepreneurial initiative and independence. The HÖRMANN Group aims to offer its customers specific solutions and services that provide clear benefits and economic advantages. To achieve this, the HÖRMANN Group harnesses all of the broadly diversified and connected knowledge of its workforce of around 2,900 highly qualified employees across a wide range of technology areas. In 2022, the HÖRMANN Group generated sales of EUR 686 million. For more information, visit www.hoermann-gruppe.com

Contact:

HÖRMANN lndustries GmbH
Celina Begolli
Hauptstr. 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
presse@hoermann-gruppe.com

Financial and business press:
IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com