Manz joins Customcells Group
Manz AG becomes a shareholder of the Customcells Group. The German engineering company is taking a rather unusual route – through its investment in the subsidiary Customcells Tübingen GmbH.
For about a year, Manz has held a 40 per cent stake in the subsidiary, which develops battery cells in Tübingen, Germany, and plans to manufacture them in the future. However, it did not previously hold a stake in the Customscells Group (with locations in Itzehoe and Tübingen). That is now changing: Manz is exchanging its shares in Customcells Tübingen GmbH for a stake in the parent company Customcells Group.
In other words, Manz AG will no longer have a direct stake in Customcells Tübingen but will have a stake in the Customcells Group – and thus indirectly in Customcells Tübingen. Manz AG is thereby underlining its confidence in the economic development of Customcells, it says in the press release. The Customcells Group also includes Customcells Itzehoe GmbH and a stake in E-Lyte Innovations GmbH, which specialises in the development of electrolytes. And the Customcells Group also owns a stake in the Porsche joint venture Cellforce, which has its battery production facilities in Reutlingen-Nord/Kirchentellinsfurt, where Manz AG’s headquarters are also located.
In addition to Manz, the shareholders of the Customcells Group include 468 Capital, Vsquared Ventures, Porsche Ventures and the financial investor PRIMEPULSE SE. The exact shares of the shareholders are not broken down in the announcement.
“With our investment in the Customcells Group, we are further strengthening this positioning and opening up a large number of new topic areas, which the Customcells Group is driving forward holistically at full speed,” said Martin Drasch, CEO of Manz AG. “The aviation sector is the most prominent example, but by no means the only one. The Customcells Group is establishing innovations in the field of process development, from which we, as a high-tech engineering company, participate directly and indirectly.”
“We see Manz AG’s investment in our group of companies as an endorsement of the course we have taken with the Customcells Group. We are in the process of positioning Customcells as a premium manufacturer and global player in the battery industry”, says Dirk Abendroth, CEO of the Customcells Group. “The support of our investors and shareholders is of outstanding importance in this regard, as is Customcells’ openness to a wide range of cooperations in the equipment segment, which we continue to foster.”
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