ElringKlinger : sells exhaust gas purification business

Dettingen/Erms (Deutschland), December 21, 2017 +++ ElringKlinger AG has reached an agreement with a major French automotive supplier for the sale of its exhaust gas purification business, as part of which the German company will divest itself from the Hug Group based in Elsau, Switzerland. The 93.67% interest held by ElringKlinger in Hug Engineering AG prior to the sale will thus pass entirely to the contracting party. The parties to the contract have agreed not to disclose details relating to the purchase consideration. The purchase agreement was signed on December 21, 2017; subject to antitrust clearance, the transaction is expected to be closed during the first quarter of 2018.

In completing this deal, ElringKlinger will withdraw from the business field of exhaust gas purification. This strategic decision is to be seen against the background of increasing globalization within this area of business, which would have necessitated further substantial investments by ElringKlinger in order to remain competitive in this market in the long term. ElringKlinger's strategic focus is mainly centered on the promising fields of lightweighting and e-mobility with its three supportive pillars of battery technology, fuel cell technology, and electric drive systems.

The Exhaust Gas Purification division currently operating within the Original Equipment segment offers solutions for engines deployed in both mobile - such as commercial vehicles, trains, and ships - and stationary applications. In 2016, it contributed around 3% to consolidated revenue within the ElringKlinger Group. Its share of business is estimated at a similar level for the current financial year.

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to vehicle manufacturers - with a firm commitment to shaping the future of mobility. Whether optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive system. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO₂, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to refine and evolve its offering within the area of seals and gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic PTFE, which is also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 9,000 people at 49 ElringKlinger Group locations around the globe.