DGAP-News: EDAG Engineering Group AG / Key word(s): Incoming Orders
EDAG develops the driver assistance systems of the future on behalf of BMW
Arbon, October 26th 2017
EDAG has received one of the most important orders from BMW, to develop and secure driver assistance systems. Together with BMW, the globally active engineering service provider develops the future generation of driver assistance systems that will meet the requirements for highly automated and autonomous driving. The order also includes securing all developed assistance systems.
EDAG will open a new development site for this technology project in the 4th quarter 2018 on the Business Campus in Unterschleißheim and continue its growth in southern Germany.
EDAG CEO Juergen Vogt is pleased about this project and points out: "EDAG and BMW maintain a long-standing and very trusting cooperation. With this project, we are taking a central technological step on the way towards an autonomous vehicle. We are proud that our development team will make a significant contribution to the future automotive world."
EDAG is an independent engineering services provider to the global automotive industry. The company serves leading domestic and international vehicle OEMs and sophisticated automotive suppliers through a global network of about 60 sites in major automotive centres of the world.
EDAG offers complementary engineering services across its Vehicle Engineering, Electrics/Electronics and Production Solutions businesses. Based on these extensive capabilities, EDAG can support clients across the entire value chain from the original design idea to product development and prototype construction all the way to the delivery of turnkey production systems. As a technology and innovation leader, EDAG also operates established centres of excellence that design landmark technologies for future applications in the automotive industry: lightweight construction, electric mobility, car IT, integral safety and new production technologies.
In financial year 2016, the company generated revenues of EUR 715 million and an adjusted EBIT of EUR 43.8 million. As at 31 December 2016, 8,270 employees (including apprentices) worked for EDAG in 19 countries.
This release contains forward-looking statements. These statements are based on current estimates and projections of EDAG Executive Board and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not be accurate. Many factors could cause the actual results, performance or achievements of EDAG to be materially different from those that may be expressed or implied by such statements. EDAG does not assume any obligation to update the forward-looking statements contained in this release.
|Company:||EDAG Engineering Group AG|
|Phone:||+41 71 54433-0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart|
|End of News||DGAP News Service|