HÖRMANN Finance GmbH (corporate bond, German Securities Code Number (WKN): A2AAZG) is changing its name to HÖRMANN Industries GmbH. This better emphasises the actual function of the company, as HÖRMANN Industries incorporates the operating subsidiaries of the family-owned HÖRMANN Holding GmbH & Co. KG. Only last year, the technology specialist expanded its investment portfolio to more than 20 subsidiaries by acquiring majority holdings in Funkwerk AG, a listed company, and VacuTec Messtechnik GmbH. The new name also reflects the diversified product portfolio of the equity investments. The medium-sized conglomerate offers a varied range of products in different sectors across its Automotive, Engineering and Communication segments. In the 2015 financial year, it generated consolidated sales of around EUR 435 million, operating EBIT of EUR 11.9 million and consolidated net income after taxes of EUR 6.2 million with a workforce of around 2,300 employees. The Group intends to further extend its strong technological position in the coming years through targeted investments and systematically expand its international activities.

JJohann Schmid-Davis (CFO) commented, ‘The new name, HÖRMANN Industries, represents the transformation that the company has undergone in recent years along with the pooling and restructuring of the business segments.’

Dr.-Ing. Michael Radke, who has been CEO of HÖRMANN Industries GmbH since March 2017, added, ‘Throughout its 60-year history, the HÖRMANN Group has demonstrated time and time again that it is capable of systematically seizing any market opportunities that present themselves and, in doing so, of expanding, adapting and transforming its business operations. I cannot wait to play my part in writing the next chapter of the HÖRMANN Industries story.’