11.10.2005 – 08:30

OMV Aktiengesellschaft

euro adhoc: OMV Aktiengesellschaft
other
OMV divests Polyfelt to Netherlands-Based Royal Ten Cate

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

11.10.2005

- Strategic divestment enables OMV to focus on core business  -
Price: EUR 70 million - Royal Ten Cate is a global leader in
technical textiles - Strong and strategic investor to build on
Polyfelt’s leading position; opportunity to expand Geosynthetics
Group

OMV, the leading oil and gas group in Central Europe, has sold its
wholly owned subsidiary Polyfelt GmbH to the Dutch multinational
Royal Ten Cate. The sales revenue considering the net debt amounts to
EUR 70 mn. As the leading global supplier of technical textiles,
Netherlands-based Royal Ten Cate is a strong and stable investor,
which will fully support Polyfelt as it consolidates its
international position. Through this transaction, Polyfelt - Europe’s
largest geosynthetics pro-ducer will be part of Royal Ten Gate, the
geosynthetics market leader in the US. Polyfelt’s European
Geotextile- and Geosynthetics businesses will continue to be located
at its Linz headquarters. OMV and Royal Ten Cate signed the agreement
on 11 October 2005, with closing expected to take place by the end of
this year. The transaction is subject to the approval of competition
authorities.

OMV’s decision to sell Polyfelt to a strategic investor is a logical
step. With its increasing specialization in geotextiles, the Polyfelt
group is less central to OMV’s business model. The acquisition of
Polyfelt is an optimal addition to Royal Ten Cate’s portfolio,
safeguarding Polyfelt’s future growth.

end of announcement                               euro adhoc 10.10.2005 17:01:16

Further inquiry note:

OMV
Investor Relations:
Ana-Barbara Kuncic
Tel. +43 1 40 440-21443; e-mail: investor.relations@omv.com
Press:
Bettina Gneisz-Al-Ani
Tel. +43 1 40 440-21660; e-mail: bettina.gneisz@omv.com
Thomas Huemer
Tel. +43 1 40 440-21660; e-mail: thomas.huemer@omv.com

Internet Homepage: http://www.omv.com

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN:
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing

Original-Content von: OMV Aktiengesellschaft, übermittelt durch news aktuell