business
Monday, July 20, 2015
After significant losses, the stock of Apple supplier Manz from Reutlingen is experiencing a rebirth. With major contracts in the tens of millions of mechanical engineers lures back to investors. The success brings still a young business.
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The Apple supplier Manz looks after the receipt of several large orders in its battery division great growth potential for the fledgling business. The volume of orders amounted to a total of around 50 million euros, said the special machine manufacturer. In sales and profits, the business will be reflected to some extent this year and the first half of 2016.
“With these orders, and what we still have in view, I am in favor of the further development of the company optimistic, “said CEO Dieter Manz. The TecDAX listed shares already shot for the opening by 9.4 per cent in the level and were up in the top of almost 14 percent. With 74,51 Euro, the paper was still well below the annual high of 96.12 euros.
production equipment for lithium-ion batteries ordered
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The battery business of Reutlingen company is currently under construction. 2014 Manz had only earned 25 million euros from 306 million euros in sales in the division. But earlier this year came already added contracts in the amount of 40 million euros. Under the now received order Manz builds production facilities for lithium-ion batteries for electronic devices. “I am convinced that we in the medium term in this area can expect something,” said company founder Manz.
The company founded in 1987, had evaporated its annual goals a few weeks ago due to a contract cancellation in the electronics division and expected in 2015 now again a loss. Originally Manz had expected a “clearly positive” earnings before interest and taxes. 2014 the company had slipped into the red due to depreciation in the solar business.
Source: n-tv.de
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