Volkswagen takes stake in German component supplier
March 15, 2011
German car producer Volkswagen AG has taken an 8.18% shareholding stake in the SGL Group based in Wiesbaden, Germany. SGL is one of the world’s leading manufacturers of carbon-based products.
Robert Koehler, CEO of SGL Group stated, “SGL Group perceives the financial participation of Volkswagen as an appreciation of our long term start-up and development activities in new materials and technologies particularly in automotive lightweight construction. These include, among others, carbon fiber based structural parts, the well known carbon ceramic brake discs as well as components for lithium ion batteries, which will play an important role in electric mobility.” In 2009, the Company’s workforce of around 6,000 at 40 production sites in Europe, North America and Asia generated sales of €1.226 million.
SGL Group’s carbon-based materials combine several unique properties such as electrical and thermal conductivity, heat and corrosion resistance as well as high mechanical strength combined with low weight. Products from SGL Group are used predominantly in the steel, aluminum, automotive, chemical and glass/ceramics industries. However, manufacturers in the semiconductor, battery, solar/wind energy, environmental protection, aerospace and defense industries as well as in the nuclear energy industry also figure among the Company’s customers. The company is a long established producer of carbon brushes used in electric motors.
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