Steico SE

Environmental & Social Information • Sep 14, 2007

News Details

Corporate | 14 September 2007 14:57

STEICO forms wind park joint venture in Poland

STEICO Aktiengesellschaft / Joint Venture

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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The issuer / publisher is solely responsible for the content of this announcement.

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• Joint venture with Pegasus Energietechnik AG, Mühldorf
• Company purpose to develop and plan wind parks

Feldkirchen – STEICO AG, the European market leader for wood-fiber
insulating materials, has transferred the previously dormant company STEICO
Spolka z.o.o., Czarnków, a wholly owned subsidiary, to STEICO S.A.,
Czarnków and Pegasus Energietechnik AG, Mühldorf in equal parts. The
contract was concluded on September 14, 2007.

The joint venture aims to develop and plan wind parks in Poland, with the
first wind park being built around STEICO S.A's Polish production facility
in Czarnków. An area of 140 hectares plus a further approx. 200 hectares
are available at this location. STEICO Spolka has already used lease
agreements to secure this land. This joint venture will not result in any
financial obligations or risks for the STEICO Group. It is planned for
institutional investors to enter into STEICO Spolka to finance the wind
park. Discussions with various major banks have already reached an advanced
stage.

STEICO AG is thus taking its dormant subsidiary into a new area of
business. In concluding this agreement, the group is underscoring its
ecological responsibility and its dedication to sustainability – for both
products and energy sources.

Pegasus Energietechnik AG has far-reaching experience in developing and
planning wind parks in Eastern Europe. Pegasus recently completed a major
wind park in Germany with 20 turbines and a large substation in cooperation
with Deutsche Bank. STEICO is contributing its local expertise to the joint
venture. In addition, STEICO has its own substation in Czarnków. The energy
generated can thus be fed into the electricity grid. Poland has a subsidy
program for renewable energy which regulates ecologically produced
electricity being fed into the grid.

Company profile:
The STEICO Group’s core competence is developing, producing and selling
ecological building products based on renewable raw materials. The company
already leads the European market with a 35% share of the market for
wood-fiber insulation materials. STEICO is increasingly becoming
established as a system provider for ecological building materials with the
launch of I-joists as construction elements for timber-frame construction.
The insulation materials and I-joists have been mutually optimized, which
provides sustainable support. The increased use of NFBs (natural fiber
boards) produced in-house as I-joist components opens up additional growth
potential for STEICO as an integrated system provider. The STEICO Group was
the first manufacturer to receive the FSC® Certificate (Forest Stewardship
Council) for all of its wood-fiber insulation materials. In addition, most
of the range of insulation products is natureplus® certified. As a result,
the company is setting environmental standards – spanning the sustainable
use of forests, production and its end products. The company has operations
throughout Europe and currently has a total of around 850 employees. STEICO
AG’s headquarters in Feldkirchen, by Munich, are home to its operating
activities, which are at the top of the technological range, in addition to
its research and development department. The group has continued to
reinforce its sales activities in the United Kingdom by forming STEICO Ltd.
in Dartford by London in October 2006. The subsidiary STEICO S.A. produces
top-quality products using high-performance equipment at the two Polish
facilities in Czarnków and Czarna Woda, allowing the STEICO Group to
realize economies of scale and cost advantages. In the past, the STEICO
Group has recorded double-digit growth rates and in fiscal year 2006 it
recorded revenues of € 86.1 million and EBIT of € 9.0 million.

Contact:
Andreas Schulze
STEICO Aktiengesellschaft
Hans-Riedl-Strasse 21
85622 Feldkirchen
Fon: +49-(0)89-99 15 51-48
Fax: +49-(0)89-99 15 51-97
Email: schulze@steico.com
www.steico.com

14.09.2007 Financial News transmitted by DGAP

Language: English
Issuer: STEICO Aktiengesellschaft
Hans-Riedl-Str. 21
85622 Feldkirchen
Deutschland
Phone: +49 - (0)89 - 99 15 51 - 0
Fax: +49 - (0)89 - 99 15 51 - 99
E-mail: info@steico.com
Internet: http://www.steico.com
ISIN: DE000A0LR936
WKN: A0LR93
Listed: Freiverkehr in Berlin, Düsseldorf, München; Entry Standard in
Frankfurt

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