GF Automotive sells Gleisdorf light metal foundry to BAVARIA Industriekapital

May 28, 2009 7:00 AM

The industrial holding company BAVARIA Industriekapital AG will acquire the light metal foundry in Gleisdorf, Austria from the Swiss automotive supplier GF Automotive. The contract for the sale was signed yesterday by GF Automotive, a Corporate Group of the Georg Fischer Corporation, and BAVARIA. GF is thus systematically implementing the review of its locations, as announced in 2008, and is focusing more closely on its core business. BAVARIA Industriekapital AG will carry on the business and will continue to supply the Gleisdorf customers. The parties have agreed to keep the purchase price confidential. The transaction must still be approved by the antitrust authorities.

The foundry in Gleisdorf, with some 200 employees, manufactures mostly small components and with this product portfolio is well positioned within a medium-sized company. The new owner intends to continue production in this form.

This step will allow GF Automotive to focus more closely on its core business, which is developing and manufacturing large-scale, complex components for the international passenger and commercial vehicle industry. The light metal activities are being concentrated at Altenmarkt and Herzogenburg in Austria, Werdohl and Friedrichshafen in Germany and Suzhou in China. The focus on developing innovative processes and materials will be strengthened.

BAVARIA Industriekapital AG is an industrial holding company operating mainly in the automotive, plant engineering and business services sectors. It generated revenues of 485 million euros in 2008. The company has extensive experience and success in the field of automotive casting.



Beat Römer
Head of External Communications
Georg Fischer AG
Amsler-Laffon-Strasse 9
8201 Schaffhausen

beat dot roemer #at# georgfischer dot com