euro adhoc: HTI - High Tech Industries AG
Mergers - Acquisitions - Takeovers /
HTI AG ACQUIRES THE HITZINGER GROUP
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Company Information/Capital increase
11.06.2008
HTI AG ACQUIRES THE HITZINGER GROUP
HTI AG has acquired a 100% shareholding in Elektromaschinen Bau GmbH
("EMB") and thus a majority stake (80%) in the Hitzinger Group.St. Marien, Austria, June 12, 2008. The Management Board of HTI High
Tech Industries AG ("HTI AG") announces the acquisition of a majority
shareholding in the Linz-based Hitzinger Group. The acquisition is
subject to the approval of the anti-trust authorities. HTI AG has
acquired a 100% stake in Hitzinger´s parent company Elektromaschinen
Bau GmbH ("EMB") from the previous owners. The transaction is
structured to include the payment of the acquisition price as well as
the issuing of new HTI shares for the previous shareholders of EMB.
In turn, EMB holds an 80% stake in the operational unit Dipl.-Ing.
Hitzinger Gesellschaft mbH ("Hitzinger") based in Linz. The remaining
20% is held by company employees. Hitzinger operates subsidiaries in
Germany and Great Britain.Hitzinger is an internationally renowned producer of special electric machinery. This includes alternators for small power plants and diesel electric locomotives, converters for voltage and frequency conversion, emergency power equipment, airport equipment designed to provide electricity for airplanes on the ground as well as uninterruptible power supplies for data processing centres, hospitals and industrial applications. In the 2007/08 business year (March 1, 2007 - February 29, 2008), Hitzinger generated total sales of approximately EUR 58m. At present, Hitzinger employs about 230 people at its facility in Linz, marketing its products in more than 43 countries around the world.
"With the acquisition of Hitzinger, Mechanical Engineering has expanded to become the biggest segment of HTI AG in terms of total sales. As a result, the annual sales of HTI AG will considerably surpass EUR 300m. The integration of the new companies will further expand the strategic focus on lightweight construction by adding energy-related applications. On a technological basis, we are now optimally equipped to meet the increasing demands of the marketplace and expand our market position. Accordingly, the acquisition process initiated within the context of the group´s strategic reorientation efforts has been concluded", says Peter Glatzmeier, Chairman of the Management Board of HTI AG. The future management of Hitzinger will consist of the previous managing directors Hermann Gatterbauer (sales and marketing) and Helmut Roland (technical development and production) as well as Herbert Landschützer as the representative of HTI AG, who will be responsible for commercial operations (e.g. controlling and finance). After the transaction has been formally concluded, Hubert Platzer, the previous commercial director, will go into retirement. "From our point of view, this acquisition represents a long-term solution with positive future perspectives for the previous owners, the company and its employees. The acquisition of Hitzinger by HTI AG is the optimal succession solution which also secures the continued existence of the production location in Upper Austria. As an international technology group, HTI AG will be able to build upon the existing growth potential and efficiently implement this growth strategy", is the satisfied conclusion of Hitzinger´s top management.
For more information on HTI AG, refer to its corporate website at www.hti-ag.at. For more information on Hitzinger, refer to its corporate website at www.hitzinger.at.
end of announcement euro adhoc
Further inquiry note:
HTI High Tech Industries AG, Ms. Nadja Goyer, Investor Relations, Tel: +43 (0)
3862 304-8562, Fax: +43 (0) 3862 304-7598, n.goyer@hti-ag.at
Hochegger Financial Relations GmbH, Mr. Dieter Riedlinger, Tel: +43 (0) 1 504 69
87-44, Fax: +43 (0) 1 504 69 87-60, d.riedlinger@hochegger.com
Branche: Holding companies
ISIN: AT0000764626
WKN: A0DQ9W
Index: WBI
Börsen: Wiener Börse AG / official market