Starting news article english 29 October 2009

Clifford Chance advised SGL Group on a joint venture with BMW Group

Clifford Chance advised the SGL Group, Wiesbaden, on the establishment of a joint venture with the BMW Group, Munich. The joint venture will manufacture carbon fibres and fabrics for the automotive industry. The SGL Group would hold 51 per cent, and the BMW Group 49 per cent in the joint venture. The transaction is still subject to the approval of the antitrust authorities.

The joint venture intends to establish two plants: one in North America for carbon fibre production, and the second in Germany for further manufacturing. The laying of the cornerstone is planned for January 2010.

The SGL Group is a leading global manufacturer of carbon-based products with 40 production sites throughout Europe, North America and Asia. With approximately 6,500 employees, the company generated sales of 1.6 billion Euros in the fiscal year of 2008.

The Clifford Chance advisory team, led by partner Dr. Nicole English, consisted of associates Dr. Matthias Wahl and Dr. Karsten Erhardt (all Corporate, Munich), partner Marc Besen and associate Dr. Achim Gronemeyer (both Antitrust, Düsseldorf) and partner Dr. Claudia Milbradt and associate Diana Kaufmann (both IP, Dusseldorf).

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Hans-Rolf Goebel, Head of PR Germany,
Tel: +49 69 7199-2524,
e-mail: hans-rolf.goebel@cliffordchance.com

Claudia S. Wright, PR Manager,
Tel: +49 69 7199-4514,
e-mail: claudia.wright@cliffordchance.com