SW Umwelttechnik Stoiser & Wolschner AG
euro adhoc: SW Umwelttechnik Stoiser & Wolschner AG
other
SW Umwelttechnik
disposes of property in Budapest
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
15.06.2007
Stock exchange announcement: 15 June 2007
SW Umwelttechnik disposes of property in Budapest
Framework agreement for sale of 6 hectare (ha) property in Budapest signed E3.6 million (m) profit expected Capital base strengthened for investment in Romania
Two years after starting to transfer production facilities to its new South Budapest works SW Umwelttechnik is now in a position to dispose of a property in Budapest which is surplus to operational requirements. Under the terms of a framework agreement with a Hungarian buyer concluded on 14 June 2007 SW Umwelttechnik has undertaken to spin off the 6 ha developed property together with unneeded production facilities into a new subsidiary, and transfer it to the purchaser by the end of the second quarter of 2008.
The agreement will bring gains of E0.6m this year and the main amount of E3m will be reported as income from the realisation of undisclosed reserves in 2008. The parties have agreed to keep the purchase price confidential.
The transaction still leaves SW Umwelttechnik holding over 40 ha of land surplus to operational requirements. This is earmarked for disposal in the next few years, and is expected to generate at least E6m.
The profits will mainly be used to fund rapid expansion in Romania. Management expects earnings to increase in 2008 as a result of the land sales.
end of announcement euro adhoc 15.06.2007 11:00:00
Further inquiry note:
DI Heinz Wolschner
Vorstand der SW Umwelttechnik
Tel.: +43/463 321 09, Fax: +43/463/37667
Michaela Wolschner, Investor Relations
Tel.: +43/664/811 76 62, Fax: +43/1/368 86 86
E-Mail: michaela.wolschner@sw-umwelttechnik.com
Website: www.sw-umwelttechnik.com
Branche: Technology
ISIN: AT0000808209
WKN: 910497
Index: WBI
Börsen: Börse Berlin-Bremen / free trade
Frankfurter Wertpapierbörse / free trade
Wiener Börse AG / Regulated free trade