EANS-News: Miba Aktiengesellschaft Miba takes over majority stake in joint
venture in China
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Joint Ventures/Cooperation/Collaboration
Laakirchen (euro adhoc) - Laakirchen, March 28, 2014. Miba AG, listed in the
Standard Market Auction
segment of the Vienna Stock Exchange, signed a contract as of today's date to
increase its previous share in EBG Shenzhen Ltd., Shenzhen, China, by 30
percent from 25 to 44 percent, thus becoming the majority stakeholder in the
company.
The joint venture is between Miba AG, the local industrial park (SSIP) and the
management team of EBG Shenzhen Ltd. Miba AG is now taking over the share
previously held by the management team, while the remaining 45 percent of
shares will continue to be held by the local industrial park (SSIP).
By increasing their stake, Miba AG is driving forward the global expansion of
its New Technologies Group. This division was founded in 2010 through the
acquisition of two Styrian companies, EBG Elektronische Bauelemente GmbH and
DAU GmbH & Co KG, and is involved in the development and production of power
electronics components, among other things. EBG Elektronische Bauelemente GmbH
entered the joint venture in the late 1980s; Miba AG took over those shares in
2010.
EBG Shenzhen Ltd. produces high-power resistors used in power electronics of
frequency converters or in modern medical technology. The company generates
annual sales revenue of EUR 10 million and employs a staff of 200.
Further inquiry note:
Mag. Manfred Luger
Head of Corporate Communications
Tel.: +43/7613/2541-1123
mailto:manfred.luger@miba.com
Investoren/Analysten
MMag. Markus Hofer
Vice President Corporate Finance
Tel.: +43/7613/2541-1138
mailto:markus.hofer@miba.com
end of announcement euro adhoc
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company: Miba Aktiengesellschaft
Dr.Mitterbauer-Straße 3
A-4663 Laakirchen
phone: 07613/2541-0
FAX: 07613/2541-1010
mail: info@miba.com
WWW: www.miba.com
sector: Industrial Components
ISIN: AT0000734835
indexes: Standard Market Auction
stockmarkets: official market: Wien
language: English