Sunday, February 28, 2016

Chinese grab Apple supplier Manz – FAZ – Frankfurter Allgemeine Zeitung

Mounted Manz for some time in China

The ailing Swabian Apple supplier Manz gets financial help from the Chinese engineering company Shanghai Electric. The company’s founder and chief executive of the company in Reutlingen, Dieter Manz, has formed an alliance with the Chinese and will allow them through a capital increase started at Manz, as the company announced on Sunday. In this way, Shanghai Electric to come to at least 29.9 percent of the shares. The company, which is rated in the stock market with 200 million euros, flowed at up to 93 million euros. The rest Manz shareholders beckons sooner or later a takeover bid for its shares.

the case is only one of many examples in which Chinese investors have gone in the recent past on a shopping spree in the German SME sector. But not only there, in other countries have been very active in recent years, Chinese investors. Thus, traditional brands find as the New York Nobel Hotel “Waldorf Astoria”, the American mobile phone manufacturer Motorola, the German concrete pump manufacturer Putzmeister, British Pizza Express or the Peruvian copper miner Las Bambas Copper already firmly in Chinese hands – just a few examples to call. ” / p>

in the current case, the new investor from China interested mainly for business with energy storage systems and solar division Manz, it said in the statement. Thus the decision was made to continue the loss-making business with thin film solar panels (CIGS) which Manz had been questioned in the past year. Manz fits as a plant engineering and solar companies exactly in the search pattern of Chinese companies have mostly apart it with their acquisitions on the German technology.

Due to the postponement of orders, especially in China Manz wrote in 2015 in the red, almost one in ten body removed. Main resources of the company are plants for the production of displays for tablet PCs, smartphones and notebooks. Great hopes Manz on the fledgling battery business, in which the special machine builders will benefit from the increasing demand for electric cars.

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Shanghai Electric to enter via a capital increase of 43 percent, which is to go in the first half over the stage. First, however, must still be approved by various Chinese authorities. The subscription price may up to 40 Euro even higher than the market price. On Friday, the stock closed at 37.35 Manz euros from the trade – a year ago they were paying just over 70 euros. CEO Manz and his wife Ulrike, which together hold 39 per cent, do not want to follow suit, so that Shanghai Electric at least come to their subscription rights. Dieter Manz wanted but “significantly” involved and remain CEO. The Supervisory Board has renewed his contract for five years.

The company’s founder, his wife and the Chinese are planning According to the notification, to pool their shares and thereby align together about at the meeting. a mandatory offer to the remaining shareholders would Because they would thus total of significantly more than 30 percent of Manz shares,


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