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20th April 2008

GCI Automotive Holding GmbH , Munich acquires majority holding in Mayer & Cie. associate


New shareholder at Maschinenfabrik Spaichingen GmbH - GCI Automotive Holding GmbH, Munich acquires a majority holding.

The German and USA locations of Maschinenfabrik Spaichingen GmbH, whose registered office is in Spaichingen, are in line for the highest growth in their history. Long-term high-volume contracts with well-known utility vehicle manufacturers will increase sales by a factor of over 2.5, coupled with the necessary high investments in growth.

Maschinenfabrik Spaichingen GmbH was formed 42 years ago, as the operating and production facility of Mayer & Cie. GmbH & Co. KG, Albstadt. During its varied history, the company has by now developed into a successful, global group. In 2007, 430 employees generated sales of EUR 67.5 million.

Maschinenfabrik Spaichingen GmbH is associated with the Mayer & Cie. Group in financial terms and the two work closely together. The development of Maschinenfabrik Spaichingen GmbH and the changes on the global market encouraged the shareholders to gear up the Mayer & Cie. Group to face future challenges. The main focus will be on their core areas of competence and their respective markets. In the case of Mayer & Cie., this is the circular knitting machine market, in which the company is a global leader. Maschinenfabrik Spaichingen GmbH is a successful automotive industry component supplier and class A supplier, of mechanical components for utility vehicle engines and special machines for modern plastics bonding technologies.

After careful selection, the former shareholders, the Mayer families, and the management of Maschinenfabrik Spaichingen GmbH, decided that GCI Automotive Holding GmbH would make the best partner to help secure the company’s future success.

The arrival of GCI Automotive Holding GmbH, a subsidiary of the listed company GCI Management AG, Munich, as the new majority shareholder of Maschinenfabrik Spaichingen GmbH, will optimise and secure the upcoming growth financing through access to the capital markets. The Mayer families will remain minority shareholders of Maschinenfabrik Spaichingen GmbH.

When the change of shareholder takes place, the former Managing Partner Mr. Rainer Mayer will retire from the management, but will continue to advise the company in the capacity of a member of the Advisory Board. In addition, business will continue to be conducted by the existing management at Spaichingen, under Managing Director Mr. Armin Distel.

Those in charge of GCI Automotive Holding GmbH, the Mayer families and the management of Maschinenfabrik Spaichingen GmbH, are all looking forward to successful collaboration under the new shareholder arrangements.

Thanks to this growth, Maschinenfabrik Spaichingen will steadily increase the size of its workforce. The company’s medium-scale corporate structure will also remain unchanged. Against this background, the new shareholder arrangements were presented to the workforce during a staff meeting on 15 April 2008.

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