DGAP-News: Softing AG / Key word(s): Joint Venture
Softing extends its Automotive presence in China

14.02.2018 / 08:34
The issuer is solely responsible for the content of this announcement.


Haar, February 14th, 2018 - Softing and its long term Chinese Automotive distributor have founded a Joint Venture in China

Softing and its long term distributor Windhill have jointly founded "Softing Technology Shanghai". The Joint Venture recognized the significance of the Chinese Automotive market which is showing a rapidly growing demand for products and projects related to vehicle diagnostics, a core competence of Softing Automotive Electronics division. Softing Technology Shanghai has access to up to 50 experienced associates from sales and development in its Shanghai and Beijing offices.

"The development of complex technologies needed for autonomous, hybrid and fully electric vehicles in China leads to a fast growing local demand for products and services for the diagnostics of electronic control units. With Softing Technology Shanghai we are now able to provide these services. Windhill is the agile, experienced and trustworthy partner needed our Joint Venture", says Dr. Wolfgang Trier, CEO of Softing AG in front of customers and the press in a press conference in Shanghai after signing the Joint Venture contract with Thomas Qiu, owner and CEO of Windhill Ltd.

Thomas Qiu will lead the new company as CEO. Softing Technology Shanghai is expecting sales in excess of one million Euro in the first year due to a strong market demands.

About Softing
Softing AG is a globally operating management holding. The companies of Softing AG develop, produce and market software and hardware for in its Industrial, Automotive and IT Networks segments. They develop high-quality standard technology products and customized solutions in close cooperation with their customers. All of Softing's business segments operate in growth markets.

About WINDHILL
WINDHILL is a leading products and innovative solutions provider for automotive electronics and related industries in China. WINDHILL, founded in 2003, setup his headquarter in Beijing and have subsidiaries in Shanghai and Hong Kong. WINDHILL's business area include ECU Tools, Vehicle Testing, Industrial Automation and Internet of Vehicle.




Contact:
Dr. Wolfgang Trier
CEO


14.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Softing AG
Richard-Reitzner-Allee 6
85540 Haar
Germany
Phone: +49 (0)89 456 56-333
Fax: +49 (0)89 456 56-399
E-mail: InvestorRelations@softing.com
Internet: www.softing.com
ISIN: DE0005178008
WKN: 517800
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

654073  14.02.2018 

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