EANS-Adhoc: ElringKlinger AG closes takeover deal for mold and tool manufacturer Hummel-Formen GmbH
--------------------------------------------------------------------------------
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
24.10.2011
Dettingen/Erms (Germany), October 24, 2011 +++ ElringKlinger AG has
today closed the deal concerning the majority acquisition of the
Hummel Group, Lenningen. In doing so, ElringKlinger has acquired 90%
of the interests in the mold and tool manufacturer specializing in
plastic injection molding technologies. The antitrust authorities
approved the transaction on October 14. Inclusion in the scope of
consolidation of the ElringKlinger Group will take place
retrospectively as at October 1, 2011.
The Hummel Group encompasses Hummel-Formen GmbH as well as Hummel-
Formen Kunststofftechnik GmbH and two subsidiaries in Romania. Hummel
plans to generate sales of approx. EUR 20 million in fiscal 2011, with
an operating margin close to the double digit range. A third of its
revenue originates from business with the ElringKlinger Group. The
purchase price payable for the 90% interest is around EUR 13.8
million. The acquisition plans had initially been announced on
September 12, 2011.
The majority takeover of the Hummel Group will allow ElringKlinger to
cement its expertise in plastic injection molding and extend its know-
how in the field of lightweight design. Furthermore, the takeover will
give ElringKlinger access to major process patents that are currently
being filed. Additional know-how in these areas will provide
ElringKlinger with significant competitive advantages both in terms of
technology and cost structures.
Further inquiry note:
ElringKlinger AG
Investor Relations / Corporate Communications
Stephan Haas
Max-Eyth-Straße 2
72581 Dettingen
Fon: +49 (0)7123-724-137
E-Mail:stephan.haas@elringklinger.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: ElringKlinger AG
Max-Eyth-Straße 2
D-72581 Dettingen/Erms
phone: +49(0)7123 724-0
FAX: +49(0)7123-7249000
mail: info@elringklinger.com
WWW: http://www.elringklinger.com
sector: Automotive Equipment
ISIN: DE0007856023
indexes: MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Düsseldorf, München, regulated dealing: Stuttgart
language: English
Original content of: ElringKlinger AG, transmitted by news aktuell