Preh Acquires IMA Automation Amberg

Online, June 20, 2014 (Newswire.com) - Preh is acquiring IMA Automation Amberg GmbH from the Swiss company Feintool International Holding AG, Lyss (Canton of Berne). IMA Automation is a supplier of high-quality assembly systems for both small and minute parts at high clock speeds and larger as well as heavy parts at lower clock speeds.

The acquisition marks a further extension of the product division Preh Innovative Automation (PIA), which focuses on the development, planning and construction of assembly systems and production lines, in particular for automotive suppliers. In the context of the Preh Group growth strategy, both the established market segments of PIA and the activities of IMA are to be expanded and internationalized further. Approximately 240 IMA employees will be retained by Preh, as well as the IMA location in Amberg.

On June 17, 2014, the automotive group Preh GmbH closed an agreement with Feintool International Holding AG to acquire IMA Automation Amberg, which has marketed assembly systems successfully for more than 30 years and is a technology leader in its business fields. The takeover still requires cartel authority approval. The purchase price for the shares and the property is valued at around €20 million.

"We welcome IMA and its employees at Preh cordially and are convinced that IMA will continue to develop very successfully as part of our group," said Preh President and CEO Dr. Michael Roesnick.

"Together, we will write a great growth story - nationally and internationally. The support from our Chinese partner Joyson, for example, provides optimal preconditions for PIA and IMA to access the Chinese market, which displays considerable growth potential in the field of automation."

Alexander von Witzleben, President of the Feintool supervisory board, added, "With the sale of IMA, Feintool is completing the focus strategy we have pursued over the past few years. We are concentrating fully on our core competency: the manufacture of high-precision series production parts by means of fine-cutting and forming as well as system solutions for fine-cutting. Preh provides IMA with access to the markets of the future, in particular in the Asia-Pacific region."

Within the Preh Group, the product division Preh Innovative Automation and IMA Automation will, in the future, form the joint company Preh IMA Automation GmbH.

About IMA Amberg
IMA Amberg GmbH specializes in the design and implementation of sophisticated automation systemsfor both small and minute parts at high clock speeds and larger as well as heavy parts at lower clock speeds. As a founder of the assembly automation industry, the company is a technology leader with almost 40 years of experience and about 240 employees. The company's prestigious and longstanding customer base offers an excellent foundation for its modernization strategy. IMA customers operate in emerging industries like the solar, medical and pharmaceuticals sectors, as well as in established industries like automotive, electrical engineering, foods and consumer goods. For more information, please visit www.ima-automation.de (http://www.afag.com/).

About Preh/PIA
The Preh product division Preh Innovative Automation (PIA) develops, plans and builds flexible high-performing assembly and production lines, mainly for automotive suppliers. The company's performance range extends from manual assembly workstations to fully automated production systems with integrated test technology and data documentation.

Preh is a subsidiary of the listed corporation Joyson Electronics, Ningbo/China (600699: Shanghai) and represents the Automotive Electronics division of the Joyson Group. As a global automotive supplier with 95 years of tradition, Preh reported sales of €520 million in 2013 (+12.5 %) with 3,430 employees. The country operates branches in Germany, Portugal, Romania, Mexico, the U.S.A. and China. Its headquarters are located in Bad Neustadt a. d. Saale/Germany. Preh's development and production capabilities focus on climate and driver control systems, control units for the battery management of E-vehicles, as well as assembly systems for leading automobile manufacturers. For more information, please visit www.preh.com.