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5. Edscha AG Business Report up until FY 2014

Edscha AG Business Report up until FY 2014

Acquisitions

-The Company announced that it will take over FPS Kunststofftechnik GmbH, based in Halver, Germany, and Friedhelm Piepenstock GmbH, based in Schalksmuhle, Germany, effective March 1, 2013. With these acquisitions, the Company extends its expertise in the field of plastics technology, which is gaining importance as a lightweight design technology in automotive engineering. The Schalksmuhle and Halver plants will be integrated into the Remscheid facility. The acquisitions involve a sales volume of approximately EUR 4.5 million. (From a press release on November 27, 2012)

Joint Venture

-The joint venture agreement signed in December 2012, between the Company and AAPICO Hitech Public Co., Ltd. became legally effective on July 5, 2013. The agreement between the two companies extends to the development, manufacturing and distribution of hinge systems, parking brakes and foot controls. The new joint venture, Edscha AAPICO Automotive Co., Ltd., will primarily supply Japanese automakers with facilities in Southeast Asia. (From a press release on July 5, 2013)

-The Company announced that its 50-50 joint venture with Korea-based Pyeong Hwa Automotive (PHA) started operations on July 2, 2013. The joint venture agreement was signed in October 2012. Edscha PHA Ltd., Asan, will develop, manufacture and distribute electric liftgate drives and hinge systems. The joint venture has already received its first production orders from various Korean automakers. In addition to the existing production site in Asan, the joint venture plans to set up a sales and development office in another location by September 2013. (From a press release on July 4, 2013)

-In 2012, the Company announced the formation of a new joint venture company with AAPICO Hitech. The new company, Edscha-AAPICO Automotive Co., Ltd, will develop, manufacture and sell hinge systems, parking brakes and foot controls, primarily to Japanese automaker's facilities in Southeast Asia. The new joint venture will be capitalized at THB 40 million (approximately EUR 1 million), 51% of which will be invested by the Company and the remaining 49% by AAPICO.

Contracts

-In 2011, the Company starting supplying a new hood hinge for the active hood pedestrian protection system of the new Mercedes-Benz M-Class. (From a press release on November 21, 2011)

Awards

-In April 2015, the Company announced that its joint venture, Edscha AAPICO Automotive, won the "Supplier Quality Excellence Award" from General Motors. (From a press release on April 30, 2015)

-In September 2014, the Company announced that Edscha Automotive Hengersberg GmbH has received the "Nissan Supplier Quality Award" in the Body category. The Company supplies the European Nissan sites in England and Spain from Hengersberg with door hinges, hood hinges and liftgate hinges. (From a press release on September 30, 2014)

Product Development

Hood hinge for active pedestrian protection
-In 2011, the Company announced that it developed a new hood hinge and is supplying for the active hood pedestrian protection system of the new Mercedes-Benz M-Class. If the car hits a person, a pyrotechnic actuator located in the engine compartment under the hinge ignites, setting off the protection mechanism. The force of the explosion pops the hinge and hood up by a total of eight centimeters. This creates a shock absorption zone that reduces injuries, particularly those to the head. In addition to this safety feature for the M-Class, the Company has developed an electric spindle drive that permits drivers to open and close the liftgate at the touch of a button. The Company also manufactures the door hinges and liftgate hinge for the M-Class. (From a press release on November 21, 2011)

Investment Outside Germany

<Spain>
-In 2015, the Company announced that it would invest approximately EUR 9 million to expand its plant in Cantabria, Spain. Cantabria's business development organization will contribute an additional EUR 1 million toward the plant's expansion. The expansion will improve the Company's capacity to manufacture hinges, handbrake levers, and spare wheel brackets. The project is expected to add 40 employees to the plant and increase its sales by EUR 17 million to approximately EUR 70 million by 2016.

<Russia>
-In September 2013, the Company started construction of its new plant in Togliatti, Russia. Production is scheduled to begin in the autumn of 2014. The Company plans to employ over 150 people there over the next several years. The Togliatti plant will initially produce door hinges, liftgate hinges and rear-end door hinges for a Russian automaker. Approximately 2.5 million parts will be produced annually. (From a press release on September 5, 2013)

<China>
-In August 2013, the Company announced the official opening of its new plant, Edscha Automotive Components Kunshan Co., Ltd., in Kunshan, Jiangsu Province, China. The plant focuses on manufacturing hinge systems and door checks. The plant contains automatic assembly lines and a stamping center based on the latest material handling technology. Future additions to the plant include an injection molding facility for plastic components and production lines for Driver Control components such as pedal boxes and foot-operated parking brakes. The plant currently covers an area of 10,700 square meters, of which 6,500 square meters is dedicated to production. The first major production order for the plant comprises of hood hinges for a large joint venture company. (From a press release on August 30, 2013)

-In 2012, the Company announced that it laid the foundation stone for a new production plant in Kunshan, Jiangsu Province, China. The Company expects to begin manufacturing hinge systems in Kunshan in the spring of 2013. The first stage of development involves the completion of office and production buildings occupying an area of approximately 9,000 square meters. The Company plans to invest a total of EUR 37 million in the development of the plant. (From a press release on August 30, 2012)

Data

Number of Employees