SGL acquires BMW’s 49 pc stake in carbon fibers JV

SGL acquires BMW’s 49 pc stake in carbon fibers JV

4:57 AM, 27th November 2017
SGL acquires BMW’s 49 pc stake in carbon fibers JV
Carbon fibers are a modern high-performance material. They are used in applications where components need to be mechanically robust but still lightweight.

WIESBADEN/MUNICH, GERMANY: SGL Carbon SE has signed an agreement to acquire BMW Group's 49 percent equity investment in the joint ventures SGL Automotive Carbon Fibers GmbH & Co KG (Germany) and SGL Automotive Carbon Fibers LLC (US) – together referred to as SGL ACF.

Once the deal has been finished, SGL will be the sole owner of SGL ACF.

Carbon fibres and carbon fibre materials are at the core of SGL Group's corporate strategy. By acquiring SGL ACF now, SGL Group is forging ahead with its strategy to consolidate all key activities in the value chain – from carbon fibres and materials to components – within the SGL, giving it overall responsibility.

BMW Group has entered into an agreement with SGL Group to continue to work together on future projects involving the use of carbon.

The existing supply agreements for the continued procurement of carbon products from SGL ACF for the BMW i3, the BMW i8, and the BMW 7 series into the next decade are unaffected by the transaction. Likewise, BMW Group's CFRP-stacks production unit in Wackersdorf will not be affected. Furthermore, the transaction will not impact BMW AG's 18.3 percent shareholding in SGL Carbon SE.

The agreement between SGL and BMW provides for the acquisition of the two SGL ACF companies in stages. In the first step, SGL Automotive Carbon Fibers GmbH & Co KG (Germany) will be transferred to SGL Group. This transaction will probably be completed in January 2018.

The second step will involve SGL Automotive Carbon Fibers LLC (US) being transferred to SGL Group, with this transaction expected to be completed by the end of 2020 at the latest.

The acquisition gives SGL Group the opportunity to expand its activities at the site relating to fibres and composites for the North American market.

"We are proud of the pioneering work that we have carried out with BMW Group on lightweight construction for the automotive sector. The carbon fibres made at our plant in Moses Lake and the fabrics that are produced from them at the Wackersdorf site have proven very successful. It is now time to fully integrate this expertise into SGL Group's value chain," said Jürgen Kohler, CEO of SGL Group.

“BMW Group will continue to rely on lightweight construction and an intelligent mix of materials, with carbon remaining a significant component. SGL Group is and will remain a major supplier and strategic partner in this regard,” added Markus Duesmann, member of the board of management at BMW AG with responsibility for purchasing and supplier network.

© Worldofchemicals News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Saudi Aramco, Sabic sign MOU to build oil-to-chemicals complex

DHAHRAN, SAUDI ARABIA: Saudi Aramco and Sabic have signed a memorandum of understanding (MoU) to develop a fully integrated crude oil-to-chemicals (CO ...

Read more
BASF confirms talks to merge oil & gas activities with Letter One

LUDWIGSHAFEN, GERMANY: BASF SE said that it is in discussions regarding a potential merger of BASF Group’s oil & gas activities with Letter ...

Read more
ROMIL launches new PrimAg range of conductivity reference solutions

WATERBEACH, UK: ROMIL Ltd has introduced PrimAg conductivity reference solutions for the calibration of conductivity meters, further extending the com ...

Read more
Evonik India, Ravindra Heraeus ends precious metal catalysts partnership

ESSEN, GERMANY: Evonik Industries said that will offer the entire closed loop precious metal catalysts business from its integrated production site in ...

Read more
BASF to increase prices for formic acid and propionic acid

LUDWIGSHAFEN, GERMANY: BASF SE said that its intermediates division will increase its selling prices in the EMEA region (Europe, Middle East and Afric ...

Read more
Reliance completes sale of US shale gas asset for $126 million

MUMBAI, INDIA: Reliance Marcellus II LLC (Reliance) a subsidiary of Reliance Holding USA Inc and Reliance Industries Limited (RIL) has completed the s ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X