euro adhoc: Klöckner & Co AG
other
Klöckner & Co Aktiengesellschaft
High
book profit from sale of Koenig Verbindungstechnik AG, Switzerland
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Sales
21.07.2008
Duisburg, July 21, 2008 - Acting through its Swiss subsidiary Debrunner Koenig Holding (DKH), Klöckner & Co AG has signed a contract to sell Koenig Verbindungstechnik (KVT) to private equity company Capvis. The sale price totals approximately EUR325 million, resulting in a book profit after taxes of about EUR 265 million. The transaction is subject to approval by the antitrust authorities.
KVT, a wholly owned subsidiary of DKH, is involved in the market of fastening systems and sealing plugs, an area that is not part of the core business of Klöckner & Co AG. The planned sale was announced in the company´s report for the first quarter of 2008. KVT, which is headquartered in Dietikon, Switzerland, has a workforce of about 300 people. In fiscal year 2007, it had sales of about EUR120 million and earnings after taxes of around EUR20 million.
Funds generated by the sale of KVT can be used to finance the expansion of Klöckner & Co. In the future, Klöckner & Co will continue to intensify its focus on its core business of multi metal distribution and vigorously expand this business.
Issuer: Klöckner & Co Aktiengesellschaft, Am Silberpalais 1, D 47057 Duisburg ISIN: DE000KC01000; WKN: KCO0100 Listed: Amtlicher Markt / Prime Standard; Frankfurter Wertpapierbörse Further information can be obtained on the webpage of Klöckner & Co: www.kloeckner.de
Contact persons: Peter Ringsleben - Corporate Communications Phone: +49-203-307-2800 E-mail: peter.ringsleben@kloeckner.de Claudia Uhlendorf - Corporate Communications Phone: +49-203-307-2289 E-mail: claudia.uhlendorf@kloeckner.de
Claudia Nickolaus, Investor Relations Phone: +49-203-307-2050 E-Mail: claudia.nickolaus@kloeckner.de
end of announcement euro adhoc
Further inquiry note:
Legal Department
Helmut Geisen
Phone: +49(0)171 330 94 57
helmut.geisen@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade