DGAP-News: Hörmann Industries GmbH / Key word(s): Miscellaneous
HÖRMANN Industries GmbH sells subsidiary HÖRMANN Kommunikation & Netze GmbH to group-owned Funkwerk AG
Kirchseeon, 25 July 2022 - HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH) is selling its subsidiary HÖRMANN Kommunikation & Netze GmbH (HÖRMANN KN) to the group-owned and listed Funkwerk AG (WKN: 575314) with effect as of 1 January 2022.
HÖRMANN KN, a technical service provider in the fields of communications technology, equipment for public infrastructures and the railway industry, pipeline construction, energy systems, and maintenance and service, acts as a full-service partner to many well-known customers and employs around 200 people. The company's products and services thus expand the service portfolio of Funkwerk AG - one of the technologically leading providers of innovative communication, information and security systems - especially for customers in the fields of railway technology and critical infrastructures, where both companies have extensive overlaps. Both companies have already been working together successfully for many years in the expansion of infrastructure that is important for the railway industry, with HÖRMANN KN taking on the installation of Funkwerk products in many cases.
With the sale, the HÖRMANN Group bundles the competences of the infrastructure and railway business within Funkwerk AG and creates the basis for serving more complex tenders in the future with bundled installation and service capacities with a large regional reach in Germany, which require installation and customer-specific full-service concepts with very short response times in addition to the pure supply of products. HÖRMANN assumes that the demand for such complex requests will increase.
Dr. Michael Radke, CEO of HÖRMANN Industries GmbH: "Following the successful partial reorganisation of the group structure and the founding of our new Intralogistics business division in May of this year, the transfer of HÖRMANN KN to Funkwerk AG is an important strategic step for the further growth of the Communication division. We are thus consistently pursuing our long-term strategy of strengthening the non-automotive areas and thus a balanced diversification of our Group."
"Hörmann KN's good customer relations in the field of critical infrastructures," says Kerstin Schreiber, CEO of Funkwerk AG, "open up the possibility for us to increasingly market our product solutions there as well, in addition to the service areas of security systems and industrial plant engineering served by Hörmann KN."
The HÖRMANN Group, which now has 32 subsidiaries, is organised into four business divisions: Automotive, Communication, Intralogistics, and Engineering. Both HÖRMANN KN and the companies of Funkwerk Group are assigned to the Communication business division. In the last three years, HÖRMANN KN achieved annual average sales of EUR 30 million, depending on the project volume. The parties have agreed not to disclose the purchase price. Due to the full consolidation of Funkwerk AG within the HÖRMANN Group, the sale of HÖRMANN KN has no impact on the forecast for the current business year 2022, the balance sheet, and the key financial figures.
HÖRMANN Industries GmbH
Financial and business press:
The HÖRMANN Group has grown steadily since its formation in 1955. HÖRMANN Industries GmbH is the parent company of 32 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 2,800 highly qualified employees across a wide range of technology areas.
25.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.