GRAMMER
Battle against Hastor continues / Chinese Jifeng increases shares to 20%
The struggle for power over automotive supplier Grammer (Amberg / Germany; www.grammer.com) continues unabated, even after the turbulent general meeting on 24 May 2017 (see Plasteurope.com of 01.06.2017). On 12 July 2017, Ningbo Jifeng Auto Parts (Ningbo, Zhejiang / China; www.nb-jf.com) raised its share in Grammer to 20.01%, according to reports coming from Amberg. Ningbo is strengthening Grammer's board in response to the takeover attempt by Bosnian family Hastor, which belongs to the Prevent supplier group that aroused huge attention last year due to its dispute with Volkswagen (see Plasteurope.com of 30.08.2016).

The Chinese company has increased its share by a good 5% since May. Hastor holds about 22% of the company. After an unsuccessful attempt to oust and then occupy the board of directors, Hastor said it would remain invested, but that its share would not be significantly expanded.
21.07.2017 Plasteurope.com [237411-0]
Published on 21.07.2017
Grammer: Machtkampf bei Zuliefergruppe geht weiterGerman version of this article...

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