The Bavarian automotive supplier Grammer lowers to the expensive Takeover by the Chinese Partner, Ningbo Jifeng and a weak car summer sales goal by at least 50 million euros. To date, the group had assumed a turnover of 1.85 billion Euro in the current fiscal year. The reason for the lowered forecast a weak car sales in the third quarter, mainly on the European market, said Grammer.

The operating result (Ebit) fell compared to the previous year, the group reported between January and September, around 1.6 million to around 57 million euros. For the year as a whole Grammer is expecting a significantly lower result than in the previous year. 2017 Grammer had still deserves to 66.5 million Euro.

in Addition, Grammer has been working since August to 84 percent owned by the Chinese automotive supplier Ningbo Jifeng. The high transaction costs of this business and the consequential costs incurred by the announced resignation of the entire Executive Board, weighed on the group, it said.

Following the Takeover, had announced the end of September, the chief Executive officer, Hartmut Müller, chief financial officer Gérard Cordonnier, and technical Director Manfred Pretscher for your resignation.

cop/Reuters/Reuters