DGAP-News: paragon AG Acquires Largest Competitor in the Market for Body Kinematics
DGAP-News: paragon AG / Key word(s): Miscellaneous
paragon AG Acquires Largest Competitor in the Market for Body Kinematics
- paragon AG is now the global market leader for adaptive vehicle aerodynamic systems
- Enormous market growth expected from the CO2 reduction megatrend
- The full acquisition of HS Genion GmbH
- Merger with paragon's Body Kinematics unit and planned continued operation under the new name paragon movasys GmbH
- The purchase promotes expansion into a system provider for vehicle aerodynamics
Delbrück, Germany, December 11, 2017 - Today, paragon AG [ISIN DE0005558696] announced the full acquisition of its competitor HS Genion GmbH, Landsberg am Lech, Germany. As a result, paragon has become the undisputed global market leader for adjustable body components. With the acquisition, paragon is achieving an important milestone for the paragon Body Kinematics unit, established in 2011, on the way to becoming the leading system provider for vehicle aerodynamics.
The key themes of range and environmental footprint increasingly shape the development of modern vehicle models. In addition to weight, air resistance in particular determines the efficiency of vehicles, as measured by the drag coefficient (Cd), and thereby their CO2 emissions. Here is where adaptive aerodynamic systems come into play that, for a long time, have advanced beyond the "rear spoilers" known from many sports cars. Increasingly, one finds body components that are adjustable by motorized control even in other types of vehicles.
Since 2011, paragon has offered state-of-the-art, high-performance and lightweight drives and components that control movable body parts such as rear and front spoilers. In addition, the current portfolio includes components for the convertible top periphery. The serial production of new product generations of adaptive rear spoilers for various popular vehicles also began in the current fiscal year.
"As is generally known, we are also in the process of strengthening our software expertise through purchases. We didn't want waste the opportunity to integrate the experts from HS Genion and their modern product portfolio at paragon. paragon is now the undisputed global market leader in an increasingly significant growth segment," says Klaus Dieter Frers, Chief Executive Officer of paragon AG. "This will accelerate paragon's development into a system provider in this area."
"We are pleased to have the very capable industry expert paragon AG on our side, together with which we can successfully shape rapid technological development," adds Jan Kürbis, managing director of HS Genion GmbH. "paragon AG's long history of successful acquisitions enables us to look toward the future with optimism."
HS Genion GmbH has been very successful in the areas of aerodynamics, comfort, convertible top components, cargo management and lifestyle for over 20 years. The company is headquarted in Landsberg am Lech, Germany, and has around 100 employees. Until now, HS Genion belonged to AUGENIO AG, headquartered in Dortmund, Germany, whose shares are wholly owned by the Hoffmann family. "We pass on HS Genion with an extremely well-filled order book and are happy to have found the right partner in paragon AG for our chosen growth course," says Dr. Till Hoffmann. "The international positioning of paragon AG will help to fully realize the potential of HS Genion," says Dr. Wolf Hoffmann. The parties have agreed not to disclose the purchase price. paragon plans to merge its own Body Kinematics unit with HS Genion and to operate under the name "paragon movasys GmbH" as a wholly owned subsidiary of the paragon Group.
More information on paragon AG is available at www.paragon.ag/en/investors.
|Phone:||+49 (0)5250 97 62 - 0|
|Fax:||+49 (0)5250 97 62 - 60|
|ISIN:||DE0005558696, DE000A1TND93, DE000A2GSB86|
|WKN:||555869, A1TND9, A2GSB8|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|