euro adhoc: Jetter AG
Restructuring & Recapitalisations /
Partnership between Jetter AG and Emhart Glass - adhoc announcement §
15 WpHG
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
11.02.2005
Ludwigsburg, 11 February 2005. Jetter AG (Frankfurt: JTT) is
announcing that Bucher Industries AG, Niederweningen, Switzerland
("Bucher", Zurich: BUC) will acquire a 20% share in Jetter AG at a
price of EUR 8.50 per share. Bucher is the parent company of Emhart
Glass, currently Jetter AGs biggest customer. The 20% share will
result from a 10% capital increase against cash from authorised
capital and from purchases of existing shares of Martin Jetter and
other actual shareholders. Furthermore, Martin Jetter will take
office as president of Emhart Glass in January 2006, while remaining
CEO of Jetter AG.Emhart Glass and Jetter AG have been sharing an intense technological partnership since 2002, based on Jetter AGs JetWeb technology. The partnership has resulted in the development of advanced machinery with considerable added value and corresponding market success for both companies. Emhart Glass, based in Cham, Switzerland, employing about 900 people, reached sales of 268 Mio CHF in 2004. Emhart Glass is the global market leader in machinery and equipment for the container glass industry. Bucher employs 5,800 people and with sales of 1.6 Mio CHF in 2004 is a globally leading technology group in machinery and vehicles. It covers five industry sectors: specialised agricultural machinery, municipal vehicles, process technology, hydraulics components and container glass production plants.
Strategic partnerships are central to Jetter AGs strategy for diversified growth. The close connection between Emhart Glasss process knowledge and Jetter AGs control technology will result in sustainable growth potential. The access to Bucher group will furthermore promise an entry in new industry segments in growing markets.
Through this investment, Bucher is honouring the increasing importance of automation technology for machinery building throughout its branches. Jetter AG as an independent automation supplier with leading technology, operating in a wide market, has qualified as an apt partner. It is in the best strategic interest of both companies that Jetter AG should pursue growth outside of the Bucher realm by diversifying its customer base. Both companies stress the importance of Jetter AGs long-term independence under the leadership of Martin Jetter, who, together with his family, will continue to hold more than 15% of Jetter AG shares, constituting the second biggest shareholder group after Bucher.
In January 2006, Martin Jetter will follow Dr. Kurt Siegenthaler, long-time president of Emhart Glass and member of Bucher groups management. Dr. Kurt Siegenthaler will retire after 12 successful years as president of Emhart Glass. Jetter AG is preparing for the new challenge by strengthening its management structure. A management board, assisting the board of directors, shall relieve Martin Jetter from day-to-day business, thus allowing him to concentrate on the strategic management of Jetter AG. The board of directors will remain unchanged. CTO Andreas Kraut, assisted by the management board, will take over responsibility for sales and marketing.
Jetter AG is expecting no short-term effect on its results.
Investors of Jetter AG are invited to join in a conference call with Martin Jetter and CFO Günter Eckert on 14 February at 2:00 pm CET.
For further information visit: www.bucherindustries.com www.emhartglass.com www.jetter.de
end of announcement euro adhoc 11.02.2005 17:32:51
Further inquiry note:
Günter Eckert
Tel.: +49-7141-2550-514
Branche: Semiconductors & active components
ISIN: DE0006264005
WKN: 626400
Index: Prime Standard, CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade