DGAP-Adhoc: Von Roll Holding AG: sale of transformer business
EQS Group-Ad-hoc: Von Roll Holding AG / Key word(s): Disposal
Von Roll Holding AG: sale of transformer business
01.12.2014 / 07:29
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
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Von Roll Holding AG: sale of transformer business
Au / Wädenswil, December 1, 2014 - As part of the announced strategy and
the corresponding focus on core business, the Board of Directors of Von
Roll Holding AG has decided to sell its transformer business unit to the
Swiss-based company International Transformer AG. The management has been
instructed to take all the necessary steps to implement this decision and,
in particular, to conclude the contract required for the sale.
The buyer of the transformer business unit is part of the von Finck
shareholder group.
Von Roll Transformers Ltd., which has production facilities in Israel, was
taken over from Elco in fall 2008. In view of the lack of synergy effects
with the core business and the losses suffered over the past few years, the
sale of the transformer business will allow Von Roll to take a further step
forward in terms of pursuing its new strategic direction.
The plant in Israel, which employs around 200 people, produces and supplies
solutions for the transmission and distribution of energy.
This transaction will have a final non-recurring negative impact of about
CHF 33 million in the Von Roll Group's current financial year. The impact
may be alleviated by potential improvements later on. At the same time, the
sale of the transformer business will bring in liquidity worth
approximately CHF 40 million.
Aside from consolidating and optimizing its plants, Von Roll is now
focusing on attractive market segments in the Insulation and Composites
divisions. The implementation of the strategy is progressing according to
plan.
About Von Roll Holding AG:
As a Swiss industrial company, Von Roll Holding AG focuses on products and
systems for power generation, transmission and distribution. Von Roll is a
global market leader for insulation products, systems and services and has
a presence in 20 countries with about 2,520 employees at over 30 sites.
Contact:
Claudia Guentert, Corporate Communications
T: +41 44 204 3529, F: +41 44 204 3007, E: press@vonroll.com
This press release is based on information currently available.
Unforeseeable risks and influences may lead to discrepancies with the
statements made here. Furthermore, rounding differences may lead to
discrepancies in the reported figures. For more information on the company
and its business performance, please refer to the Annual and Semi-Annual
Report of Von Roll Holding AG which is available in digital form at
http://www.vonroll.com/en/financial-reports.html.
End of ad hoc announcement
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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=HQMXKTNBDN
Document title: Von Roll Holding AG: sale of transformer business
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01.12.2014 News transmitted by EQS Schweiz AG. www.eqs.com - news
archive: http://switzerland.eqs.com/de/News
The issuer is responsible for the contents of the release.
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Language: English
Company: Von Roll Holding AG
Steinacherstr. 101
8804 Au
Switzerland
Phone: +41 44 204 3500
Fax: +41 44 204 3007
E-mail: reception@vonroll.com
Internet: www.vonroll.com
ISIN: CH0003245351
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart;
Frankfurt in Open Market ; SIX
End of News EQS Group News-Service
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