euro adhoc: ElringKlinger AG
Mergers - Acquisitions - Takeovers /
ElringKlinger acquires further shares of its subsidiary Elring of North America
Inc.
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
27.09.2005
ElringKlinger AG, Dettingen/Erms will acquire a further share of 40% of Elring of North America, Inc., Branchburg, New Jersey effective January 1st 2006. The Supervisory Board of ElringKlinger has taken such decision in its meeting September 27, 2005. Presently ElringKlinger holds a share of 60% at Elring of North America Inc. 40% are held by a family which is working in the free aftermarket business in the USA. This shareholder is willing to sell its share. The Parties agreed to keep the purchase price confidential.
Elring of North America Inc. is selling Elring Aftermarket Gasket Kitts in the North American Aftermarket under the brand name "Elring". ElringKlinger expects as a 100% shareholder improved cost structures as well as much better chances to enlarge the aftermarket product range in the USA.
end of announcement euro adhoc 27.09.2005 15:33:35
Further inquiry note:
Martin Link
IR-Manager
+49(0)7123 724-137
martin.link@elringklinger.de
Branche: Automotive Equipment
ISIN: DE0007856023
WKN: 785602
Index: SDAX, Prime Standard, CDAX, Classic All Share, Prime All
Share
Börsen: Berliner Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Baden-Württembergische Wertpapierbörse / official dealing
Frankfurter Wertpapierbörse / official dealing