MAN sells shares in ACP GmbH

Former MAN works in Penzberg becomes wholly-owned subsidiary of Hörmann Beteiligungsgesellschaft mbH

(PresseBox) ( München, )
Three years after being converted to an independent company, Automotive Components Penzberg GmbH is to become a wholly-owned subsidiary of the Hörmann Beteiligungs-Gesellschaft mbH. This is the final step of the ACP GmbH on the road to independence. Up to now, MAN Nutzfahrzeuge had held a 40% share of ACP.

Successful change to independent automobile supplier

Over the past three years the former MAN Nutzfahrzeuge AG component works has developed into a successful and economically independent enterprise. "Together with Hörmann we have helped ACP GmbH to stand on its own feet. The concept was successful and the way is clear for sustained perspectives" says Lars Wrebo, member of the Executive Board of MAN Nutzfahrzeuge AG with responsibility for Production. An ACP factory is currently being erected near Cracow in Poland. In future, deliveries will be made directly to the new MAN Works near Cracow. Heinz Runte, Managing Director of Hörmann Beteiligungsgesellschaft, explains: "With ACP GmbH we have expanded our portfolio and acquired a successful company with good growth potential." Hörmann has held a 50% share of ACP since January 2006. The Penzberger automobile supplier currently has 850 employees (as of 31.12.2007) and increased its sales to 135 million euros in 2007 (from 118 million euros in 2006). MAN Nutzfahrzeuge will continue its close co-operation with ACP in future. The two partners have signed a further framework agreement on an annual sales volume in excess of 100 million euros. The Hörmann Group, with its headquarters in Kirchseeon, was founded over fifty years ago and today employs around 4,000 staff. The Group's portfolio ranges from warning systems to mobile telephony solutions, from industrial technology to the manufacture of components.
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