Reuters and other news organizations reported on Dec. 22 that carmaker BMW Group (Munich, Germany) has bought a slightly higher stake in carbon fiber manufacturer SGL Group (Wiesbaden, Germany) and signalled it might buy even more shares if the opportunity arose.
Reuters reported that SGL Group said BMW's stake in the company stood at 15.72 percent as of Dec. 21, which is 0.52 percentage points greater than the 15.2 percent which BMW said it had secured in November.
According to the report, BMW had informed SGL that it had no intention of buying more shares in the company over the next 12 months, SGL said in a statement on Thursday.
"But we are not ruling out buying more voting rights in cases of favorable buying opportunity or avoiding diluting our shareholding," SGL quoted BMW as saying.
BMW already operates a joint venture with SGL that manufacture carbon fiber for use in structural components of the forthcoming BMW i3 all-electric and i-8 hybrid-electric vehicles. Several carmakers are positioning themselves to make greater use of carbon fiber to help reduce vehicle weight and increase fuel efficiency.
Reports have indicated that BMW is competing with Volkswagen and German engineering company Voith for shares of SGL Group.