Dräxlmaier Group sells its Decorative Design business to mutares AG

mutares acquires the business unit “Decorative Design” including all its sites and employees. Dräxlmaier Group refocuses on its core business.

Vilsbiburg/Bruchsal, 02/19/2010 – mutares AG, Munich, acquires Dräxlmaier Group’s Decorative Design activities (DDD) with effect as of March 1st, 2010. Decorative Design develops, manufactures and distributes trim parts for the interior of passenger cars. The business unit occupies more than 1.000 employees at its German sites in Vilsbiburg and Bruchsal as well as in Codlea/Romania. In 2009, sales were in the upper two-digit millions range. As a consequence of this divestiture Dräxlmaier Group will further strengthen its focus on its core businesses. “After constructive negotiations we are happy that we found mutares AG as a buyer interested in the further development and value creation of this business unit including all its sites and employees”, says Hans Dick, CFO of Dräxlmaier Group.

Among DDD’s customers are the leading automotive OEMs (original equipment manufacturer) of the industry’s premium segment. As a specialist for high-end and authentic surface designs made of wood, carbon or aluminum DDD is an important technology partner for the design and production of luxury passenger cars. Regarding DDD’s future development, [Dr. Axel Geuer](http://www.mutares.de/unternehmen/vorstand/dr-axel-geuer/de/), founder and member of the executive board of mutares, says: “The high standards of DDD’s production processes are an excellent basis to provide OEMs with innovative solutions for all applications of trim parts in automobile interiors. Our intention is to continue the operation with the existing product portfolio at all sites. Hence, we are glad about the successful signing of the contract.”

The Dräxlmaier Group considers itself to be well prepared for the current economic situation with its core businesses Electrical/Electronic and Interior. Via the divestiture of its DDD business to mutares AG, Munich, Dräxlmaier Group strengthens its focus on its core competences. The law firm Gleiss Lutz, Munich, and the investment bank Metzler Corporate Finance, Frankfurt am Main, supported Dräxlmaier Group in this transaction as exclusive advisors. Both firms advised on the strategic realignment of the business unit.