Sunday, 16 October 2011

BMW, VW consider buying shares in SGL - the Carbon company



VW and BMW have shown their interest in buying additional shares in SGL - The Carbon Company. The statement comes from both the OEM's which says that the company, SGL might be useful for them to cater to the needs of the changing automotive scenario.

The Company, SGL at present manufactures CFRP (Carbon-fiber reinforced plastic) components for the automotive Industry. This is a light weight material which is used in the automotive parts to reduce the overall weight of the automobiles thus giving a higher efficiency.

"We have an essential interest in SGL Carbon," the weekly news magazine quoted a BMW manager as saying. "If the price is right, we will further increase our stake in SGL," it cited a manager at VW as saying.

BMW plans to roll out "i3" electric cars that boast passenger cabins made from carbon fibre-reinforced plastic supplied by SGL. Weighing half as much as steel, the lightness of the shell improves the battery performance and the car's range.

 Der Spiegel said BMW was still considering the number of shares it could buy, but added that it made sense to acquire over 20 percent in order to gain majority control over SGL together with billionaire Susanne Klatten, a large shareholder in BMW who owns 29 percent of SGL.

Spiegel also reported that SGL shareholder Voith, which reported it owns 9.1 percent in September, was closely allied with Volkswagen. That means all VW needs to do is buy another 7 percent and the two investors would have a blocking minority.

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