Mexican Media Brands
SGL Carbon Plans Stock Sale to Cut Debt, Expand
SGL Carbon SE, the carbon fiber supplier to BMW and Volkswagen, plans to issue some €267 million in new shares to pay down debt and fund new investments.
Share
SGL Carbon SE, the carbon fiber supplier to BMW and Volkswagen, plans to issue some €267 million in new shares to pay down debt and fund new investments.
The two carmakers and Susanne Klatten, BMW heiress and SGL's largest shareholder, have agreed to buy at least some of the new shares. Bloomberg News says the company has €625 million in debt.
Klatten's SKion GmbH investment company owns 28% of SGL. BMW holds an 18% stake, and VW owns 10%.
SGL and BMW produce carbon fiber for the carmaker's i3 electric city car and i8 sport coupe through a U.S. joint venture. In May they announced a $200 million (€159 million) plan to triple annual capacity, which would make their facility the world's largest source of carbon fiber.
RELATED CONTENT
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
