euro adhoc: Sartorius AG
Strategic management decisions
Sartorius sells
hydrodynamic bearings business to
British Smiths Group
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
15.10.2007
Today, Sartorius AG signed a contract with Smiths Specialty Engineering, a subsidiary of the British technology company Smiths Group, to sell Sartorius Bearing Technology GmbH to this subsidiary. According to this agreement, Smiths Specialty Engineering will retroactively purchase all of the shares in the Goettingen-based company effective September 1, 2007. It is planned to close the transaction within approximately the next six weeks.
The purchase price for Sartorius Bearing Technology GmbH, which expects to post sales revenue of around 15 million euros and a double-digit EBIT margin for the financial year 2007, is approximately 20 million euros.
By selling its hydrodynamic bearings business, the Sartorius Group is strengthening its focus on its two core areas of activity, biotechnology and mechatronics, as well as on its major groups of customers, the biopharmaceutical, chemical and food industries.
end of announcement euro adhoc 15.10.2007 12:12:00
Further inquiry note:
Andreas Wiederhold
Treasury & Investor Relations
Telefon: +49 (0)551 308-1668
E-Mail: andreas.wiederhold@sartorius.com
Branche: Biotechnology
ISIN: DE0007165607
WKN: 716560
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Börse Hannover / official dealing