Daimler And AKKA Technologies Create A New Leading European Engineering Consultancy
STUTTGART, Germany, Dec. 8, 2011 /PRNewswire/ -- Daimler AG and AKKA Technologies S.A. will jointly manage the MBtech Group, an internationally leading engineering and consulting company based in Sindelfingen, in the future. The details are specified in an agreement signed by Daimler and AKKA Technologies on December 7, 2011. Subject to the approval of the antitrust authorities, AKKA Technologies will acquire a stake of 65 percent; until now, MBtech has been a 100 percent Daimler subsidiary. With a substantial equity interest of 35 percent in the future, Daimler will remain a long-term and strategic shareholder as well as an important client of MBtech.
The entry of AKKA Technologies at MBtech Group will create one of the biggest European engineering consultancies. AKKA Technologies is a listed company and is an engineering consultancy for the automotive, aeronautics, space, transport and energy sectors. In the area of aeronautics engineering, the company is already the market leader in Europe. In the future, that position will be held by AKKA Technologies and MBtech also in the automotive sector, where the Sindelfingen company has its focus.
The two companies complement each other ideally in their sectoral structure, client portfolio and regional positioning: AKKA Technologies has its main focus on France, Italy, Spain and the United Kingdom, while MBtech has a strong market position in Germany, China and the United States.Together with the new majority shareholder, MBtech will broaden its competence profile outside the automotive industry and expand its international market position in the coming years. Daimler and AKKA Technologies intend to jointly develop the company and to strengthen its competitiveness on a sustained basis. This will protect jobs at MBtech while offering new opportunities for the workforce in an expanded international environment.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts