Sale of restructured business unit Antenna Systems to Kathrein-Group successfully concluded

27.05.2010

Sale of restructured business unit Antenna Systems to Kathrein-Group successfully concluded

  • Formation of Europe’s market leader in antenna business
  • 250 jobs secured
  • Further milestone in the successful reorientation of Blaupunkt

Hildesheim, 27 May 2010 – The carve-out of the successfully restructured business unit “Antenna-Systems“ from the Blaupunkt Group has been finalised. After all the conditions of the purchase contracts concluded last December have been fulfilled and approval by the antitrust authorities has been granted the sale to Kathrein-Group, Rosenheim, is now effective. Kathrein has acquired the activities of the business unit in Hildesheim (Germany), Vila Real (Portugal) and Suzhou (China) and is going to continue and expand them under the name of “Blaupunkt Antenna Systems”.

The parties agreed to keep the purchase price confidential. Both companies also agreed to cooperate with regard to the use of the “Blaupunkt“ brand for the recently acquired business unit as well as alternative product fields.

The acquisition of the Blaupunkt business unit “Antenna Systems“ results in the formation of Europe’s market leader in the automotive antenna business. “As European market leader the following years will offer great opportunities for strong international growth. The acquisition by Kathrein secures more than 250 jobs. Together we want to expand the existing activities,” says Prof. Anton Kathrein, managing partner of Kathrein.

Along with the already existing activities the Kathrein Group plans to increase its sales in the automotive antenna sector to more than 100 million euros over the next three years. The product range of the new corporation in the automotive antenna and radio system sector includes the simple FM/AM-rod antenna as well as a very complexe ’intelligent antenna‘.

 

For the Blaupunkt Group the closing of this complexe transaction represents a further milestone in the successful reorientation of the company. The break-even anticipated for this year has been reached already and Blaupunkt has recently become profitable again. The Blaupunkt Group now focuses on the car radio business as well as increasingly on its business areas audiovision and consumer electronics and is thereby returning to its business roots. Nucleus of the company was “Ideal“ - a radio telephone and apparatus factory founded in Berlin in 1923. It first produced headphones labeled with a quality symbol – the blue point. Apart from its core businesses car radio and car hi-fi the traditional brand Blaupunkt is now going to move in new directions with innovative products and lifestyle accessories such as headphones or docking stations for ipods.

“The reorientation is heading in the right direction and the carve-out of the antenna sector is a further important step towards a thriving and growing company,” says Fritz Seemann, spokesman of the Blaupunkt Management.

The KATHREIN-Werke KG is the world’s oldest and largest antenna producer and a leader of high-tech communication technology products. The Kathrein Group currently employs a total of 6,000 people at 21 production facilities and 59 subsidiaries and affiliates world-wide. In 2009 sales amounted to 1.1 billion euros with more than two thirds generated abroad.

The Blaupunkt Group based in Hildesheim is an internationally significant provider of car radios, sound components and consumer electronics.

Further information can be found on www.auto.de or www.blaupunkt.de.