BMW Ag., on Friday announced that has secured a 15.16 percent stake in SGL Carbon SE — one of the world’s leading manufacturers of products from carbon.
“Lightweight construction will play an increasingly important role in the automobile industry in the future. Our stake-holding in the SGL Group is a logical step that will further strengthen our successful cooperation,” stated Friedrich Eichiner, member of the Board of Management, responsible for Finance, in Munich on Friday.
The move comes two days after Der Spiegel reported that BMW might buy a stake of just over 20 percent to pool the holding with BMW heiress Susanne Klatten’s stake and gain a majority in SGL.
Also, the current high share price could also deter Volkswagen from buying further stake in SGL Carbon, said an automotive analyst last month, who requested anonymity.
However, Volkswagen doesn’t aim to raise its stake beyond 10%.
SGL Carbon has 38 production sites across the globe (20 in Europe, 12 in North America and 6 in Asia), as well as a service network in over 100 countries. In 2007, on sales revenus of €1,373.0 million, the company generated net income of €130.9 million.
Last week, the company said that year-to-date (2011) sales increased by 12% to €1,119.5 million (9M/2010: €1,002.2 million).