Sept. 12 (Bloomberg) -- Grammer AG, a German maker of seats for cars, buses and tractors, jumped the most in more than three months after winning an order from Deutsche Bahn AG for 46,000 train seats.
Grammer, based in Amberg, will replace the seats in 770 of Deutsche Bahn AG’s intercity trains in an order to be filled over three years, the company said in a statement today.
“This order is positive, it should secure capacity utilization in the company’s train seats unit for the next years,” Bankhaus Lampe analyst Christian Ludwig said in a note today. The size of the order should be about 25 million euros ($32 million), he said.
Grammer shares rose as much as 1.02 euros, or 6.7 percent, to 16.17 euros, the biggest intraday increase since May 22. They traded at 15.75 euros at 11.34 a.m. in Frankfurt, giving the company a market value of 182 million euros.
Grammer supplies seats and interior for cars and trucks by manufacturers including Daimler AG and Volkswagen AG.
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