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SGL Group Acquired BMW Group’s Minority Interest in SGL Automotive Carbon Fibres
Once the deal has been completed, SGL Group will be the sole owner of SGL ACF. As is customary, the transaction is subject to approval from the respective authorities. By acquiring SGL ACF, the SGL Group is forging ahead with its strategy to consolidate all key activities in the value chain – from carbon fibres and materials to components – giving it overall responsibility. The changes in the shareholder structure of SGL ACF have no any direct impact on its workforce, which currently totals around 450 employees. BMW Group has entered into an agreement with SGL Group to continue to work together on future projects involving the use of carbon. The existing supply agreements for the continued procurement of carbon products from SGL ACF for the BMW i3, the BMW i8, and the BMW 7 series into the next decade are unaffected by the transaction. Likewise, BMW Group’s CFRP-stacks production unit in Wackersdorf will not be affected. Furthermore, the transaction will not impact BMW AG’s 18,3 % shareholding in SGL Carbon SE. This equity investment is not up for disposal.
The agreement between SGL Group and BMW Group provides for the acquisition of the two SGL ACF companies in stages. In the first step, SGL Automotive Carbon Fibers GmbH & Co. KG/DE will be transferred to SGL Group. This transaction will probably be completed in January 2018. The second step will involve SGL Automotive Carbon Fibers LLC/US being transferred to SGL Group, with this transaction expected to be completed by the end of 2020 at the
latest.
The SGL ACF joint venture was founded in 2009 with the aim of establishing the use of carbon as a lightweight construction material in the automotive industry and securing the supply of carbon fibres and fabrics for BMW Group. Since then, SGL Group and BMW Group have created a leading technological position in the field of carbon fibre composites with their joint development activities and the construction of two plants. The possibility of SGL Group acquiring BMW Group’s shares was already agreed as an option back when the joint venture was founded. Accordingly, 51 % of the shares were allocated to SGL Group and 49 % to BMW Group at that time.
SGL ACF’s production activities take place in Moses Lake/US and Wackersdorf/DE. Moses Lake is the world’s most modern and environmentally friendly carbon fibre plant and produces specific carbon fibres for serial production applications.
The acquisition gives SGL Group the opportunity to expand its activities at the site relating to fibres and composites for the North American market. At the Wackersdorf plant, carbon fibres are processed to create fabrics and non-wovens. At the site, SGL ACF also operates equipment to recycle residual materials resulting from the production process, thereby making a valuable contribution to conserving resources and lowering costs in the carbon fibre reinforced plastics process chain. In 2016, SGL ACF generated sales revenue of around EUR 90 million. In the future, SGL ACF will be fully assigned to the Composites – Fibers & Materials (CFM) business unit.
