M & A

Grammer swallows headrest manufacturer Nectec

The automotive supplier Grammer has successfully completed the acquisition of Czech headrest manufacturer Nectec. The SDax-listed specialist in automobile interiors thus strengthens its Europe-wide position in the headrests segment and its growth opportunities in the premium segment.Grammer wants to maintain and expand the Nectec location. Grammer AG employs around 9,000 people in 18 countries worldwide.

Schuler takeover approved

The metal-forming specialist and former SDax value Schuler now belongs in large majority to the Austrian engineering group Andritz. After all regulatory approvals, the acquisition is now completed and Andritz holds more than 90 percent of Schuler's shares, it claims.

Already last year, the founding family Schuler-Voith had after 173 years relinquished their control over the company and sold about 39 percent of their shares to the Graz company, which then made the rest of Schuler's shareholders a voluntary tender offer. According to Andritz its majority stake in the Swabian company represents a long-term investment.