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Manz AG, DE000A0JQ5U3

Manz AG, DE000A0JQ5U3

20.08.2020 - 10:01:50

Manz AG: Order for second tranche from AKASOL for a module production line at US location

Manz AG: Order for second tranche from AKASOL for a module production line at US location

AKASOL confirms follow-up order for Gigafactory 2 at the Hazel Park site, USA Positive project development for Gigafactory 1 at the AKASOL site in Darmstadt Final acceptance of the line for Gigafactory 2 planned for the second half of 2021 Total order volume amounts to around 20 million euros

Reutlingen, August 20, 2020 - Manz AG, a global high-tech engineering company with an extensive technology portfolio, has received the second tranche of an order from the German company AKASOL AG for assembly lines to produce lithium-ion battery modules.

Back in February, AKASOL had ordered the first tranche for a module production line for the new Gigafactory 1 in Darmstadt. A second, identical module production line for the Gigafactory 2 at the US-American location of AKASOL AG in Hazel Park, Greater Detroit, has now been confirmed. The total volume of both tranches amounts to around 20 million euros. Final acceptance of the line for Gigafactory 1 will take place at the beginning of 2021, final acceptance for Gigafactory 2 is planned for the end of 2021. The modules produced on Manz's machines are, among other things, to be used in commercial vehicles and buses from one of the world's largest commercial vehicle manufacturers.

Martin Drasch, CEO of Manz AG, comments: "We are very pleased that our concept has convinced AKASOL as the German pioneer for battery systems in hybrid and fully electric commercial vehicles. The order for the second tranche for the US location is the result of our excellent cooperation on the Gigafactory project in Darmstadt and confirms our impression that, in addition to Europe and Asia, the US market is also picking up considerable momentum in the battery segment. With over 30 years of experience in production facilities for powerful and efficient battery systems, we want to benefit from the global trend towards electrification in a wide range of industries."

Manz's machines are not only used to produce battery cells, modules and packs for the automotive industry and large vehicles such as trucks and buses, but also for power tools or consumer electronics, for example.Company profile:

Manz AG - passion for efficiency Founded in 1987, Manz AG is a global high-tech equipment manufacturing company. Its business activities comprise the areas of Solar, Electronics, Energy Storage, Contract Manufacturing and Service.

With many years of expertise in automation, laser processing, vision and metrology, wet chemistry and roll-to-roll processes, the company offers manufacturers and their suppliers innovative production solutions in the areas of photovoltaics, electronics, and lithium-ion battery technology. The company's product portfolio includes both customer-specific developments and standardized single machines and modules, which can be linked to create complete custom systems. Manz AG offers high-quality, needs-based solutions that can be integrated early into customer projects to contribute significantly to customer success.

The company, listed on the stock exchange in Germany since 2006, develops and produces in Germany, Slovakia, Hungary, Italy, China and Taiwan. It also has sales and service branches in the USA and India. Manz AG currently employs roughly 1,500 workers worldwide, around half of whom work in the Asia region, which is key to the company's target industries. Manz Group revenue in the 2019 financial year totalled around 264 million euros.Contact: Manz AG Axel Bartmann Phone: +49 (0)7121 - 9000-395 Fax: +49 (0)7121 - 9000-99 e-mail: abartmann@manz.com

cometis AG Claudius Krause Phone: +49 (0)611 - 205855-28 Fax: +49 (0)611 - 205855-66 e-mail: krause@cometis.de

End of Media Release Issuer: Manz AG Key word(s): Industry

20.08.2020 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Manz AG Steig?ckerstr. 5 72768 Reutlingen

Germany Phone: +49 (0) 7121 9000-0 Fax: +49 (0) 7121 9000-99 E-mail: info@manz.com Internet: http://www.manz.com ISIN: DE000A0JQ5U3 WKN: A0JQ5U Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1121127 ? End of News DGAP Media

1121127??20.08.2020?

@ dgap.de