ElringKlinger increases stake in Chinese partner

ERJ staff report (DS)

Dettingen/Erms, Germany -- ElringKlinger AG ihas acquired an additional 10.0 percent ownership interest in the subsidiary Changchun ElringKlinger Ltd. from the state investment company State Machinery, Electronics, Light and Textile Industry Investment Corporation, Changchun. The increase in ElringKlinger's ownership interest to now 88.0 percent was executed effective from 30 June, 2009. Sales terms were not disclosed.

Changchun ElringKlinger Ltd. supplies Chinese automobile manufacturers with cylinder-head and specialty gaskets, as well as thermal shielding components and plastic housing modules for engines and transmission systems. It generated sales revenue of approx. EUR 16 million in 2008 and achieved an operating margin within the lower double- digit range.

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Press release from ElringKlinger