Neumayer Tekfor Group Spins Off Italian Business Entities

April 3, 2008
Objective is optimization of financial structructures.

Neumayer Tekfor Holding GmbH, Hausach, Germany, and its shareholders, advised by Barclays Private Equity, have spun off the Italian business entities of the group (Tekfor S.p.A. and its subsidiary Neumayer Italy S.r.l.) as an independent company group.

Tekfor S.p.A., Avigliana, Italy, now is owned by funds advised by Barclays Private Equity as is its former parent company. The structural change is expected to allow for an improved and customized solution with respect to the financing requirements of Neumayer Tekfor Group and the Italian business entities and is intended to have no impact on the day-to-day operations of the companies.

Ulrich Mehlmann, president and CEO of Neumayer Tekfor Group, said: “The objective of this transfer is to undertake all possible efforts to continue leading Neumayer Tekfor and its aligned businesses as well as the Italian entities to a prosperous and sustainable future. The new financial structure will provide sufficient headroom to execute our ambitious growth programs.”

All units will continue to operate under Neumayer Tekfor’s manufacturing, quality, and operational standards. Company officials state that business relationships with customers will not be affected, whereas business relationships with suppliers will be transferred to the Italian entities directly.