Vossloh AG

Legal Proceedings Report • Feb 23, 2011

News Details

Ad-hoc | 23 February 2011 20:15

Vossloh AG: Vossloh putting shipments to Libya on hold

Vossloh AG / Key word(s): Miscellaneous

23.02.2011 20:15

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Vossloh putting shipments to Libya on hold

Werdohl, February 23, 2011. In view of the current situation in
Libya, Vossloh AG has today discontinued for the time being the shipment of
rail fasteners and switches for the new line between Ras Adjer and Sirt. In
doing so, Vossloh is complying with a request dated February 22, 2011, from
China Civil Engineering Construction Corporation, the Chinese general
contractor for the Libyan rail project. At present it cannot said to what
degree the project will be delayed.
For 2011, Vossloh had so far budgeted sales to Libya of around EUR70
million. Even if shipments to Libya cannot be resumed in 2011, the
Executive Board expects, thanks to the favorable business trend to date in
other regions, nonetheless to generate sales of around EUR1.4 billion and
an EBIT above EUR160 million for the Group as budgeted for 2011. In 2010,
Vossloh had been awarded two contracts for Libya worth a total EUR115
million.

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Language: English
Company: Vossloh AG
Vosslohstr. 4
58791 Werdohl
Deutschland
Phone: +49 (0)2392 52 - 359
Fax: +49 (0)2392 52 - 219
E-mail: investor.relations@ag.vossloh.com
Internet: www.vossloh.com
ISIN: DE0007667107
WKN: 766710
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hamburg, Hannover, München, Stuttgart

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