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MIFA Partners with Automotive Electric Parts Maker


GRÜNHAIN-BEIERFERLD, Germany – The Mitteldeutsche Fahrradwerke AG (MIFA) started a cooperation with Elektromotorenwerk Grünhain GmbH (EMGR). This electric component maker is a renowned supplier of the automotive industry. In 2014 EMGR will deliver e-bike-motors as well as complete drivetrains to Germany’s unit-wise largest bicycle producer.

MIFA Partners with Automotive Electric Parts Maker
German investor Carsten Maschmeyer increased his stake in EMGR/MS Industrie recently. He is also MIFA’s majority shareholder. - Photo MIFA

The partnership between MIFA and EMGR is reported by several financial newspapers in Germany. They quoted Andreas Aufschnalter – member of the executive board of MS Industrie which is the, on the Frankfurt stock exchange listed, holding company that owns EMGR. The newspapers reported on MS Industrie’s financial third quarter results that included the announcement on the start of a promising cooperation with MIFA in the field of e-motors and drivetrains. Karlheinz Nicolai commented (in his role as MIFA CTO) on the cooperation.

Cargo e-bike project

He said that EMGR is cooperating with MIFA in one cargo e-bike project. “Electric motors and drivetrains for cargo-bikes have to fulfill specific requirements. This is one of the projects we are working on and cooperate with EMGR. EMGR has a great motor factory.” Among others MIFA is producing the sturdy cargo-bikes for the German Postal Service (Deutsche Post).

Listed industrial group

EMGR’s parent company MS Industrie AG is a listed industrial group. Originally founded in 1991 as Gesellschaft für Consulting & Implementierung it made a smooth transition to a holding company under the name GCI Management AG through an IPO on the Frankfurt Stock Exchange in 2001. At that time the company concentrated on restructuring operations for example for Pfaff, the traditional Germany sewing machine manufacturer. The financial crisis brought that business model to an end.

Instead of concentrating on restructuring companies GCI Management AG moved on to investing into majority interests in industrial and real estate companies. Due to these changes the company name was changed to MS Industry AG in July 2012.

Major stakes

MS Industry holds major stakes in real estate service provider Beno and in two industrial automotive companies EMGR GmbH and Maschinenfabrik Spaichungen GmbH (MS Spaichingen). MS Spaichingen is the biggest company owned by MS Industrie. It is a specialist in welding technology as well as leading-edge (diesel) engine technology. MS Spaichingen works for Daimler (Mercedes-Smart) targeting low-emission truck engines.

2012 MS Industrie revenues stood at € 170 million. Stock market observers regard MS Industrie as “hidden champ” and forecast an revenue increase to more than € 250 mn in 2015.


Interesting is that German investor Carsten Maschmeyer increased his stake in MS Industrie through his investment company Paladin Asset Management GmbH recently. It is said that he currently owns a 7 percent stake in MS Industrie. Maschmeyer is also MIFA’s majority shareholder owning 33% of all shares of the listed company.

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