SHW AG raises €24.6 million of capital for major capacity expansion

March 3, 2015

March 3, 2015

SHW AG, a leading supplier of automotive pumps, engine components and brake discs, has announced that it has issued 585,109 new ordinary bearer shares (Inhaberaktien) following the resolution of 17 February 2015 on a capital increase against cash contribution. The 585,109 new shares were placed at a price of €42.00 per share as part of a private placement with institutional investors by way of an accelerated bookbuilding process. SHW stated that investor interest was high and commented that the order book was oversubscribed.

SHW AG receives gross proceeds of approximately €24.6 million from the capital increase. The company’s CEO, Dr Thomas Buchholz, stated, “We will use the proceeds from this capital increase primarily for an expansion in our capacity to accommodate a recently won series production contract from a leading US OEM for a global engine platform and for accelerating our international growth.”

The pumps will be produced in North America, China and Europe and will, it was stated, secure the group’s international growth far into the next decade. In addition, SHW AG is currently in discussions for further joint ventures for the Brake Discs business segment, among others, and is currently assessing its options to expand the production of the Pumps and Engine Components business segment in Europe.

The issue of new shares has been carried out in the context of a capital increase from authorised capital. The execution of the capital increase was expected to be entered into the commercial register on 19 February 2015. The capital increase results in a rise in the company’s share capital from €5,851,100.00 to €6,436,209.00. The subscription rights of shareholders have been excluded. The new shares will carry full dividend rights as of 1 January 2014.

COMMERZBANK Aktiengesellschaft acted as the sole global coordinator for the capital increase and is the joint bookrunner, together with UniCredit Bank AG.

Currently, the SHW Group has four production sites in Germany located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck, and one site in Sao Paulo, Brazil. With just over 1,150 employees, the company generated group sales in fiscal year 2014 of €430 million.

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March 3, 2015

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