Good move on Porsche! Now lets get another 007 Movie rolling and see a new Porsche as the beauty car.
FROM: ANE
Porsche plans to buy a 25 percent stake in a German carbon fiber producer, widening access to the lightweight material used in its top-end sports cars.
Porsche and Capricorn Composite GmbH, a supplier of components for the LMP1 and 918 Spyder models, are targeting completion of the deal in about two weeks after signing an agreement on Monday, the carmaker said Tuesday in a statement.
The purchase will "build on joint work over many years in the motorsports industry and secure the future," Porsche said.
Volkswagen Group, Porsche?s parent company, already owns just under 10 percent of the shares in Capricorn's larger competitor, SGL Carbon SE. An expansion of that holding is potentially blocked as BMW Group and Susanne Klatten, a member of BMW's controlling family, together control almost half of SGL's stock.
VW has said it's not seeking to add to the SGL stake.
Other brands owned by VW that use carbon fiber include Audi, which competes with the BMW brand in luxury-auto sales and produces components with the material, and supercar maker Lamborghini, which uses it in auto bodies.
BMW has a joint venture with SGL to produce carbon fiber for its i3 and i8 models. The automaker's battery-powered i3 compact is the first mass-produced model with an all-composite body. View the attachments for this post at: