DGAP-News: paragon to Use FSD Technology From Voltabox in Automotive Segment
DGAP-News: paragon GmbH & Co. KGaA
/ Key word(s): Alliance/Mergers & Acquisitions
paragon to Use FSD Technology From Voltabox in Automotive Segment
- Comprehensive cooperation with an industrial battery manufacturer being reviewed as part of the partial sale of Voltabox
Delbrück, March 24, 2021 - paragon [ISIN DE0005558696] is now planning to enter the electromobility market even with its Automotive business. With the help of the new Flow-Shape-Design (FSD) technology from its subsidiary Voltabox, a variety of lithium-ion battery systems are set to be offered for the automotive market. paragon is planning to license the FSD technology and thus help Voltabox achieve a breakthrough. This will create significant synergies between paragon and Voltabox for the first time. Until now, Voltabox has mainly marketed its battery systems for industrial uses and buses.
Meanwhile, the discussions on a partial sale of Voltabox shares owned by paragon will take a few weeks longer than originally planned. As reported, paragon GmbH & Co. KGaA and a Swiss investor group signed a letter of intent (LoI) for the acquisition of Voltabox share blocks in December of last year. The originally envisaged transaction structure will in all likelihood be expanded; in addition to the planned investment, it is now also being negotiated that a large industrial battery manufacturer, whose shareholder is one of the Swiss investors, will enter into a comprehensive cooperation with Voltabox AG. The basic features of the cooperation have already been agreed. Valuation issues and the financing of the transaction still need to be discussed.
In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech, Neu-Ulm and Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Oroslavje (Croatia) and Austin (Texas, USA).
Additional information about paragon can be found at www.paragon.ag.
|Company:||paragon GmbH & Co. KGaA|
|Phone:||+49 (0)5250 97 62 - 0|
|Fax:||+49 (0)5250 97 62 - 60|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1177780|
|End of News||DGAP News Service|