EANS-News: Balda AG Balda AG continues realignment and sells MobileCom in China
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Strategic management decisions
Subtitle: The Group disposes of the business with systems and components for
mobile phones in China
Bad Oeynhausen (euro adhoc) - Bad Oeynhausen, 31 October 2011 - The Frankfurt
SDax listed company Balda AG has carried out its repeatedly advertised intention
(most recently in the ad-hoc announcement of 4 August 2011) to dispose of its
MobileCom segment and has sold it by way of a management buy out (MBO). The
segment had already been reported in the 2011 half-year report under
"discontinued operations". The parties have today with the approval of the Balda
Supervisory Board closed the contracts of sale.
With this Balda has disposed of its activities in the mobile phone business in
China. The buyer is Ample Gain Enterprises Limited (AGE). The Bad Oeynhausen
Group is disposing of its companies in Beijing (BSBJ and BTO Technologies) and
Suzhou (BSSU) including the rights to properties, buildings and machine park. It
is expected that the closing will take place in November 2011. The parties have
agreed not to disclose the details of the transaction such as the conditions and
the purchase price. The sale ends Balda's of late loss-making involvement due to
the challenging market conditions in the MobileCom segment in China. The Group
is therefore freeing resources to focus on higher-margin business divisions such
as the Medical division.
Company profile of Balda AG
The Balda Group develops and produces complete plastic assemblies, electronic
products and products for the medical technology industry. Balda's customers are
leading companies in the pharmaceutical, medical technology, consumer
electronics electronic communications and mobile phone markets. The Group is
internationally positioned with production sites in Germany and Malaysia. A
subsidiary in the USA operates in product design and development. Within the
scope of its shareholding in a leading touchscreen manufacturer in China, Balda
is participating in the dynamic development of the touchscreen displays market.
This Corporate News announcement contains forward-looking statements, which are
based on the current expectations of Balda´s management. They therefore contain
a range of risks and uncertainties because they relate to future events and
depend on circumstances that will occur in the future, such as, for example,
developments in the mobile communications industry, changes in technology and
the ability to timely and successfully develop new products and various other
factors. Balda will neither revise these forward-looking statements nor correct
them in the event of any unexpected development, unless there is a legal
obligation to do so.
This Corporate News announcement represents neither an offer to buy shares nor
an invitation to submit an offer to buy shares in the United States or any other
country. The shares in Balda AG (the "shares") may not be offered or sold in the
United States or to or for the account of U.S. persons (as defined in Regulation
S of the U.S. Securities Act of 1933, in its current version (the "Securities
Act")), unless they are registered or are exempt from registration under the
Securities Act. The shares have not been and will not be registered under the
Securities Act.
Further inquiry note:
Clas Röhl
Tel.: +49 (0) 5734 922-2728
croehl@balda.de
end of announcement euro adhoc
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company: Balda AG
Bergkirchener Str. 228
D-32549 Bad Oeynhausen
phone: +49 (0) 5734 9 22-0
FAX: +49 (0) 5734 922-2747
mail: info@balda.de
WWW: http://www.balda.de
sector: Semiconductors & active components
ISIN: DE0005215107
indexes: CDAX, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English