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Strategic investor acquires the automotive supplier Kiekert AG

The publicly-traded automotive supplier Hebei Lingyun Industrial Group Corporation Ltd., Beijing, China, achieves consensus with Investment Group to acquire the worldwide leading producer of latch systems for passenger cars setting signals for global growth.

Beijing (CN) / Heiligenhaus (DE), March 13, 2012 – The activities around the sale of the automotive supplier Kiekert AG from Heiligenhaus have come to a successful end.  The current investors of Kiekert have achieved consensus after intense negotiations with the Chinese automotive supplier Lingyun to acquire the shares of Kiekert. The formalization of the contracts and the assessment by the Federal Trade Commission will be finalized in the coming months.

After a Debt-to-Equity-Swap in 2006, the current owners of Kiekert are a consortium consisting in part of BlueBay Asset Management, Silver Point Capital as well as the US Investor Morgan Stanley. Together with the new owners, a new management team was put in place in 2007.

In the subsequent years, Kiekert has consistently been restructured. The Company is very well prepared for the sale to a strategic investor from the automotive sector. Today, Kiekert is showing solid growth with continuous profitability.

In the area of manufacturing, the streamlining of the global production footprint, the flexibility improvements, and the expansion in Asia have lead to continuous contributions to operating income. A stringent product focus along with important investments made into research and development have insured a considerable increase in turnover to the worldwide leader, even during the crisis in 2009/2010. In 2011, Kiekert sold more than 41 million latch systems – the highest production volume in the history of the company. With a turnover of more than 500 million Euro, Kiekert was able to repeat the success of former years.

Through the acquisition of Kiekert a supplier company with a turnover of more than one billion Euro and massive global growth potential is emerging. The Management Board of Kiekert AG is in agreement that Lingyun is the right investor and that Kiekert will successfully formulate its future within the Lingyun Group of Companies.  Kiekert will experience considerable latch system growth in the Asian region.  At the same time, Kiekert plans to globalize the core products of Lingyun to Europe and the NAFTA region.  Lingyun is a partner with sufficient capital who is both willing and able to support this growth growth. All of the conditions for a successful partnership are in place.

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Kiekert puts focus on E-mobility at the International Motor Show (IAA) in Frankfurt

Kiekert, as a partner of the research project Streetscooter, displays innovative lightweight latches and solutions for safe charging

Frankfurt, 13.09.2011, "Electro mobility creates many opportunities to benefit the environment and the automotive industry" says Dr. Karl Krause, CEO. As a partner of the research project Streetscooter, which is developed by Aachen University, Kiekert displays its products on the Streetscooter stand at the motor show.

Kiekert impressively demonstrates how electro mobility generates opportunities for all companies. Its products are not limited to conventionally powered vehicles, but also have dedicated applications to the electro mobility market. Kiekert is the world's market leader and developer of latch systems. At an early stage, Kiekert has recognized the potential which the new electro mobility technology presents for its business.

During the charging process of an electric car, high voltages are generated. For safety reasons, it is extremely important that the charger connector is firmly locked during the charging process. Kiekert already manufactures charger plug locking devices which are in serial production today. In addition, the supplier based in Heiligenhaus, Germany, offers the OEMs a comprehensive portfolio of solutions related to electro mobility.

Safety is Kiekert's main priority and core competence. This is as true for electro mobility applications, as it is for Kiekert's main business, side door latches. The latches in the Streetscooter are barely visible, yet perfectly meet the requirements of this small electric scooter. The doors house a completely new latch concept which has been developed specificly for small and electric cars. The Beta Latch modular system is a cost and weight optimized latch. It is 30 percent lighter and costs 30 percent less than a conventional mass production latch.

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From the Global Latch to E-mobility-
Kiekert presents its complete product range in Shanghai

The world's market leader in locking systems is ready and able to meet the requirements of the emerging markets with an additional and innovative product range

Shanghai, 19.04.2011 – "The locking system remains our main focus, but not necessarily only in car doors"' says Dr. Karl Krause, CEO, about Kiekert's offensive. At the most important automotive show in the Asian region Kiekert will reveal how it has made clever locking solutions a reality, and where on the car these convenient applications can be found.  

Kiekert is the only supplier displaying its entire range of locking systems, from high-end premium latches to those for the emerging markets. In Shanghai, Kiekert displays for the first time its revolutionary new modular latch system. The Beta Latch sets new standards in terms of weight, size and costs. 

The classic door latch is no longer the only product group which the German innovations company is targeting. A new era of electric cars is upon us, and Kiekert offers charger plug latches for mass production to meet this demand. These latches guarantee the safe charging of electric vehicles. In co-operation with its development partners, Kiekert reveals its easyMobility package for electric cars, offering a complete product group for plug and cable management.

At Shanghai, Kiekert also displays innovations aimed at improving comfort for the driver. Cost and size optimized soft-closing solutions, and a stepless door stop grabs the attention. Visitors to the show can see for themselves how the opening and closing of car doors will become easier and more precise in the future. With the i-technologies, Kiekert offers a complete range of premium features which remain attractive for mass production in terms of price. This is the same strategy that the specialist in locking systems adopted when it invented central locking - the same success is anticipated again.

Above all Kiekert gives an insight into its world-leading testing and engineering department. Dr Ulrich Nass, head of engineering, says: "For the first time, we want to show the visitors our testing know-how and the process which leads to new products. Proven engineering and testing methods are needed to guarantee safety and quality. This faultless performance is required of door latches many millions of times. We offer customers our engineering competence on all continents and also in our Changshu factory. On our stand, visitors can get a precise picture of the requirements Kiekert demands of its products."

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Kiekert showcases Global-Low-Cost-Latch to participate in the growing Asian and South American markets

Heiligenhaus, 15.04.2011 – Kiekert AG focuses on the growth in the emerging markets with the introduction of the newly developed latch concept. The Beta Latch platform will be the worldwide standard for latches in the low-cost segment.

The Beta Latch model range meets all safety requirements needed in a modern door latch. The materials and design are customized to accommodate the special requirements of the Asian and South American markets. Unlike the latch modular systems for higher-class segments, the Beta Latch modular system will not offer all comfort functions. As this saves money, this product is bound to be a favourite for vehicles in the target markets.

In the Beta Latch model range, Kiekert combines its unrivalled competence in latch development with its experience drawn from the emerging Asian markets. Applying Kiekert’s global strategy, the development of the Beta Latch was led by the Chinese engineering team.

The Beta Latch has four main features:

• Price: Minus 30 percent compared to the conventional latch in the volume segment
• Size: Just slightly bigger than a Smartphone
• Weight: At 300 gramms 30 percent lighter than existing latches in this segment
• Modular System: Flexible design which meets the individual requirements of any customer

Kiekert will present the new latch platform at the Auto Shanghai next week. Kiekert is proud to announce it has already acquired its first order for the new modular latch system. A Chinese carmaker will use the Beta Latch in its cars from 2012.

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Kiekert "opens the door" for charging electric cars

The latch system supplier based in Heiligenhaus, Germany, launches production of an actuator which securely fastens the charger of electric cars.

Heiligenhaus, Germany, 09.15.2010 - – Kiekert is the first latch manufacturer to embrace the new era of the electric car. Kiekert has recently been awarded a contract to supply the charger locking actuators for two models starting in 2011.

The actuator is positioned in the vehicle where the plug mates with the vehicle electrical socket. Once the driver connects the plug to the socket, the actuator automatically locks the two. The automatic locking fastens the plug and guarantees that it cannot become inadvertently detached. "Unlike conventionally filling a tank with petrol, the charging can take up to eight hours. Secure fastening of the plug is therefore required over the entire charging period." states Dr. Ulrich Nass, Kiekert's Head of R & D.

Electric mobility provides a significant opportunity for suppliers such as Kiekert to open new markets for their products. Jürgen Wenzel, Head of Sales, remarks: "We reviewed the new requirements of E-vehicles at a very early stage and recognized the potential for Kiekert. We are working with various car makers to bring individual innovative technologies to the point of marketability."

Kiekert is beyond the concept stage when it comes to E-Mobility. "We have formed special engineering teams who focus on the next-generation of alternate power vehicles. We have devoted considerable resources to a number of applications. They will provide the answer to the numerous challenges the new methods of powering cars will present." says Dr. Ulrich Nass.

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