Adval Tech Holding AG

Regulatory Filings • Aug 31, 2016

News Details

Ad-hoc | 31 August 2016 17:45

Sale of the Molds segment (FOBOHA) largely completed

Sale of the Molds segment (FOBOHA) largely completed
Niederwangen, August 31, 2016, 5.45 p.m. – Adval Tech has completed the sale of shares in the Molds segment (FOBOHA) to Barnes Group Inc. to the greatest possible extent. For the business units in Germany, the USA and Switzerland involved in the sale, the approval of the relevant authorities has been obtained, and all the formalities have been completed. For the Chinese business unit, the formal transfer of the shares by the authorities is expected to be completed in the fourth quarter of 2016. The change of control for all business units will take place on August 31, 2016.
Contact Valeria Poretti, Head Corporate HR/Communication, phone +41 31 980 82 66; valeria.poretti@advaltech.com Markus Reber, CFO, phone +41 31 980 82 70; markus.reber@advaltech.com Background information about the Adval Tech Group Adding value through innovation – that’s what Adval Tech stands for. Adval Tech is the partner of choice – for high-volume components manufactured in metal and plastic. Adval Tech focuses on the automotive market and on related applications. Adval Tech covers the entire value chain as a one-stop-shop, from product development to prototyping, to mold and tool development, and through to component production and assembly. Agenda End of March, 2017 – Announcement of the results for the 2016 financial year April 25, 2017 – Conference for financial analysts and press conference on annual report 2016 April 25, 2017 – Publication of the annual report 2016 May 18, 2017 – General meeting of shareholders 2017 Except for the historical information contained herein, the statements in this media release are forward-looking statements that involve risks and uncertainties.