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Manz AG: Letter of Intent for follow-up order for a production line for the automated assembly of cell contacting systems



DGAP-Media / 29.09.2020 / 09:30

Manz AG: Letter of Intent for follow-up order for a production line for the automated assembly of cell contacting systems

- LOI from TE Connectivity for production line for automated assembly of cell contacting systems proves successful cooperation in past projects

- Final contract award expected in the fourth quarter of 2020

- Order in the lower double-digit million-euro range will affect revenue and earnings in 2020 and 2021


Reutlingen, September 29, 2020 - Manz AG, a global high-tech engineering company with a comprehensive technology portfolio, has signed a letter of intent (LOI) with the automotive supplier TE Connectivity for a follow-up order in the lower double-digit million-euro range. TE had already ordered the first fully integrated production line for the automated assembly of cell contacting systems in 2018 and now plans to further expand the successful cooperation. The final contract award is expected in the fourth quarter of 2020. Most of the order will be recognized in revenue and earnings in fiscal year 2021.

Cell contacting systems are a central component of the e-power train of electric cars and plug-in hybrids: They connect individual battery cells to form battery modules, take care of current collection and various sensor functions for battery management, such as temperature and voltage measurement. Depending on their size and capacity, several battery modules are integrated and interconnected in a battery-powered electric car - each module has its own cell contacting system.

Martin Drasch, CEO of Manz AG, comments: "We are very pleased that we have been able to convince TE Connectivity of our capabilities over the past two years, and that we will be able to continue the excellent cooperation in future projects. The dynamics of e-mobility are now increasingly picking up speed, and for us there is enormous growth potential in the electronics and energy storage segments. With more than 30 years of experience in assembly automation and battery production, we are very well positioned in the market."
Company profile:

Manz AG - passion for efficiency

Founded in 1987, Manz AG is a global high-tech equipment manufacturing company. Its business activities comprise the areas of Solar, Electronics, Energy Storage, Contract Manufacturing and Service.

With many years of expertise in automation, laser processing, vision and metrology, wet chemistry and roll-to-roll processes, the company offers manufacturers and their suppliers innovative production solutions in the areas of photovoltaics, electronics, and lithium-ion battery technology. The company's product portfolio includes both customer-specific developments and standardized single machines and modules, which can be linked to create complete custom systems. Manz AG offers high-quality, needs-based solutions that can be integrated early into customer projects to contribute significantly to customer success.

The company, listed on the stock exchange in Germany since 2006, develops and produces in Germany, Slovakia, Hungary, Italy, China and Taiwan. It also has sales and service branches in the USA and India. Manz AG currently employs roughly 1,500 workers worldwide, around half of whom work in the Asia region, which is key to the company's target industries. Manz Group revenue in the 2019 financial year totalled around 264 million euros.

Contact:

Manz AG
Axel Bartmann
Phone: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
e-mail: abartmann@manz.com

cometis AG
Claudius Krause
Phone: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
e-mail: krause@cometis.de



End of Media Release


Issuer: Manz AG
Key word(s): Enterprise

29.09.2020 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Manz AG
Steigäckerstr. 5
72768 Reutlingen
Germany
Phone: +49 (0) 7121 9000-0
Fax: +49 (0) 7121 9000-99
E-mail: info@manz.com
Internet: http://www.manz.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1137503

 
End of News DGAP Media

1137503  29.09.2020 

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