euro adhoc: VA Technologie AG
VA TECH sells Asta Elektrodraht GmbH
to Metrod Berhad (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
The listed VA Technologie AG announces the closing of the sale of its 100 percent subsidiary Asta Elektrodraht GmbH to the Malaysian company Metrod Berhad. The divestiture was realised in the course of VA Technologie AGs strategic focussing on its core business.
In the Austrian plant in Oed Asta produces high-quality copper wire winding material and components for the power industry, employs 250 employees and, in 2003, had sales amounting to EUR 60 m.
Metrod Berhad is listed at the stock exchange of Kuala Lumpur and ranks among the important producers of copper rods and copper wires; in 2003, sales amounted to EUR 110 m. The company is part of an international copper trading and processing group which majority is owned by the family of Lord Bagri.
Metrod emphasises in a statement that Asta will play an important role in Metrods global activities of expansion due to its geographical situation in the heart of Europe.
Deconsolidation from VA TECHs accounts will be effected retroactively as per 1 January 2004.
end of announcement euro adhoc 08.06.2004
Further inquiry note:
Bettina Pepek
Press Officer
phone: 43 1 89100-3400
fax: 43 1 89100-4103
wolfgang.schwaiger@vatech.at
Branche: Technology
ISIN: AT0000937453
WKN: 093745
Index: ATX, ATX Prime, WBI
Börsen: Wiener Börse AG / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade