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Manz AG wins renowned new customer from the automotive industry and receives order for high-volume assembly line for inverters
Reutlingen, Germany, June 29, 2023 - Manz AG, a global high-tech engineering company with a comprehensive technology portfolio, has acquired a globally operating Tier 1 supplier as a new customer in its Industrial Automation business area. The initial order comprises an assembly line for inverters as a component of the electric powertrain for electric vehicles and is to be installed at one of the customer's locations in Eastern Europe. The order, with a volume in the upper single-digit million-euro range, will have an impact on revenues and earnings in fiscal years 2023 and 2024. In the long term, the new customer offers potential for follow-up orders due to its strong market position in the international automotive industry and its ambitious growth plans. Manz AG was able to convince with its comprehensive portfolio for electric powertrains and its high level of expertise in the integration of both its own and third-party equipment. As a component of the electric powertrain, the inverter converts the battery's DC into AC to drive the electric motor efficiently. The more effectively the conversion works, the greater the range that electric cars can drive on one battery charge. Manz has already developed efficient production solutions for this central component of the electric powertrain in several projects and has proven to be a reliable partner for well-known customers from the automotive industry. At the same time, Manz will benefit from its own long-standing presence in Slovakia when realizing the order it has now received. Martin Drasch, CEO of Manz AG: "We are proud that we were able to convince another renowned customer in the automotive industry with our production solutions. With our decades of experience in assembly automation, we are ideally positioned to exploit growth potential in the course of the global mobility transition. The order is also a particularly positive signal for our global R&D as well as production network, in which Manz Slovakia has established itself as a reliable partner for a large number of customers in a wide range of industries."
Manz AG - engineering tomorrow's production Manz AG is a globally active high-tech engineering company. With a focus on the automotive industry and electromobility, battery production, electronics, energy, and medical technology, Manz develops and builds innovative and efficient production solutions: From customized single machines for laboratory production or pilot and small series production, to standardized modules and systems, to turnkey lines for mass production. Technologically, Manz's production systems are based on many years of experience in automation, laser processing, inspection systems, wet chemistry, and digital printing. With currently around 1,500 employees, the Manz Group develops and produces in Germany, Slovakia, Hungary, Italy, China and Taiwan. Sales and service subsidiaries also exist in the USA and India. Manz AG was founded in 1987 and has been listed on the Frankfurt Stock Exchange since 2006. In fiscal year 2022, the Group generated revenues of around EUR 251 million.
Manz AG
End of Media Release Issuer: Manz AG Key word(s): Industry
29.06.2023 CET/CEST Dissemination of a Press Release, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Manz AG |
| Steigäckerstr. 5 | |
| 72768 Reutlingen | |
| Germany | |
| Phone: | +49 (0) 7121 9000-0 |
| Fax: | +49 (0) 7121 9000-99 |
| E-mail: | info@manz.com |
| Internet: | http://www.manz.com |
| ISIN: | DE000A0JQ5U3 |
| WKN: | A0JQ5U |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1668355 |
| End of News | EQS Media |
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1668355 29.06.2023 CET/CEST
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