SGL could acquire BMW's stake in carbon fiber JV; cathodes sale expected by year-end (translated)
07 AUG 2017
SGL (SGCG.DE) could acquire BMW's (BMWG.DE) stake in a joint venture for the production of carbon fiber, Euro am Sonntag reported.
In a wide ranging interview the German weekly publication put it to SGL Chief Executive Juergen Koehler that he could takeover BMW's share in the JV to become sole owner. Koehler said he does not think BMW wants to be a carbon fiber manufacturer, and this business is a core of SGL's strategy and an essential part of the value chain, and a takeover could be an option.
Regarding other unit sales, Koehler said he has narrowed the number of bidders for its cathodes for the aluminum industry down to a handful and he expects to sign a deal by the end of the year at the latest. SGL could raise around EUR 400m from the sale which Koehler said would be used to service debts.
The interview was published in the weekend edition on pages 8,9 and 10.