Porsche Looking to Buy Stake in Composites Company
Capricorn Composite is a supplier of components for Porsche’s LMP1 and 918 Spyder models and provides a range of services for the manufacture and design of composite parts. The company’s development and fabrication centre for fibre-reinforced composites is located at the famous Nürburgring.
The deal will give Porsche increased access to lightweight materials and technologies for use in its top of the range sports cars. The two companies are hoping to tie up the deal very soon after signing an agreement earlier in the week. The purchase will “build on joint work over many years in the motor-sports industry and secure the future,” Porsche said.
Volkswagen AG already owns just under 10% of the shares in SGL Carbon SE. Bloomberg are reporting that any expansion of that holding could potentially be blocked as BMW 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.