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Restructuring of KTM KÜHLER completed successfully

04.03.2010 - - early termination of Upper Austrian state liability in the amount of € 7.5 m. - Mahle Group takes over Automotiv-Kühler of KTM-Kühler GmbH - WP Suspension Group purchases Motorrad-Kühler

Mahle Group takes over automotive sector of KTM-Kühler
 
After the implemented restructuring of KTM Kühler GmbH (sales of about €30 m), MAHLE Group took over the automotive sector in December 2009 with 125 of 245 employees in total. Since January 2010 production is managed from the site in Mattighofen under the brand name MAHLE. The MAHLE Group is one of the 30 biggest automobile supplieres world wide. In 2008 MAHLE generated sales of over € 5b employing 45,000 employees at over 100 production sites.
 
WP Suspension Group purchases Motorrad-Kühler
 
The WP-Suspension Group – partner and supplier in the international motorbike industry and subsidiary of the CROSS Industries AG - takes over the motorbike radiator sector at the site in Mattighofen. Production will be continued under the brand name WP Radiator.
WP Suspension is a leading European enterprise operating in the suspension component sector for motorbikes and vehicles. Beside KTM, BMW Motorrad belongs to the key clients of the company. In the business year 2008/09 the WP Suspension Group generated sales of about € 34m employing 165 employees.
 
Early return of Upper Austrian state liability in the amount of €7.5m.
 
The liability granted by the Upper Austrian provincial government in June 2009 in the framework of a programme for medium-sized enterprises in the automobile sector led to the necessary restructuring of the KTM Kühler Group and played a major role in winning important strategic partners in a fierce economic environment. Consequently, the production sites in Mattighofen could be secured in the long-run. The indemnity bond from the Upper Austrian province in the amount of € 7.5m, which has been granted for the period of maximum 5 years could be prematurely terminated by amortization of the collaterized credit line already after a term of half a year.
 
 
Contact for further inquiries: CROSS Industries AG, Ms Michaela Friepess, Edisonstrasse 1, A-4600 Wels tel: +43-7242-69402, fax: +43-7242-69402-109, email: info@crossindustries.at

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