PI Takes Over IBS Ingenieurbüro as of January 1, 2023

Dear colleagues,

I wish you lots of happiness, health, and success for the new year, both personally and jointly as part of the PI team.

At the start of the new financial year 2023, I would like to inform you about a company PI has acquired at short notice.

As of January 1, 2023, PI has taken over the insolvent IBS Ingenieurbüro Dr. Klaus Schnürer GmbH (IBS), based in Karlsruhe, into a newly founded PI subsidiary. The 53 IBS employees, including engineers, project leads, and other specialists will support PI with their expertise in the design of products and systems, software development, and simulation. The automation of PI's own manufacturing will greatly profit from the know-how of the IBS engineers.

The newly-acquired company will be integrated rapidly. Please support the onboarding of the new colleagues. After the onboarding phase, we will have an additional 55,000 hours of development and construction capacity and can hence considerably improve our performance. Thanks to this acquisition, we can creatively and efficiently resolve urgent resource-related problems.

IBS specializes in the development and implementation of automation projects, until now mainly for the automotive industry. The new employees will reinforce our own product development and production technology and continue IBS' existing business with current and new customers.

Realistically, we expect initial results during the first six months of 2023. We will keep you posted about any further steps.

I think this is a great start to the new year 2023 as team PI.

Have a successful start!

On behalf of PI's Executive Board

Yours
Markus Spanner
Chief Executive Officer