euro adhoc: Jetter AG
Mergers - Acquisitions - Takeovers
Jetter acquires
controller company Futronic and increases capital - adhoc announcement under §
15 WpHG
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
23.12.2005
Ludwigsburg, 23 December 2005. Jetter AG (ISIN: DE0006264005)
announces that they are in negotiations with the French group Saint
Gobain concerning the take-over of 100 % of the shares in Futronic
GmbH ("Futronic") by 31 December 2005 for a purchase price of EUR 6
Mio. The negotiating parties have reached agreement on all material
points and hope to sign the contract in 2005. Futronic, a company
situated in Bavaria, is a producer of electronic controllers
specialised mainly on the glass container industry. In 2004, Futronic
reached sales of EUR 6.3 Mio. and an EBIT of EUR 1.4 Mio. with 45
employees. Sales and result for 2004 are expected in a similar
magnitude. The company is debt-free. Saint Gobain, a world market
leader in glass container production, sells Futronic in the course of
concentration on their core business.Futronic, which shall be maintained as an independent brand, offers a complementary product range and market access for the medium and lower segment of the controller market for the glass container industry. Jetter is present in the upper segment of this industry through Emhart Glass; the combination of Jetter and Futronic would thus cover the entire market, which has substantial growth potential, especially in areas with lower levels of personnel costs. Synergies are expected especially in the product range and market access, in the medium term also in the areas of development and production, with positive effects on the results.
In connection with financing this transaction, Jetter will increase its share capital from authorised capital . Bucher Industries AG, which is holding 20% in Jetter, shall subscribe a further 143,000 shares at EUR 14.00 per share, bringing their shareholding in Jetter to 23% and procuring EUR 2 Mio. for Jetter. The remainder of the purchase price is equally financed through existing cash and new debt.
For further information, please contact: Günter Eckert (CFO) Gräterstraße 2 71642 Ludwigsburg Tel.: +49-7141-2550514 geckert@jetter.de
end of announcement euro adhoc 23.12.2005 17:00:00
Further inquiry note:
Günter Eckert
Tel.: +49-7141-2550-514
Branche: Semiconductors & active components
ISIN: DE0006264005
WKN: 626400
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade