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M&A Activity • Oct 18, 2005

News Details

Corporate | 18 October 2005 07:09

ARQUES takes over French state enterprise Evry Rotatives S.A.S.

Corporate-news transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— ARQUES takes over French state enterprise Evry Rotatives S.A.S. French Minister of Finance approves take-over – ARQUES strategy in web offset printing sector takes on form Starnberg, October 18, 2005 – With immediate effect Circel Grundstücks- und Vermögensverwaltung AG (ISIN DE0006781008), listed on the OTC market, acquires 100% of the business shares in the French state printing works, Evry Rotatives S.A.S. Circel is a 95% subsidiary of the Starnberg-based equity investment company ARQUES Industries AG (ISIN DE0005156004). Both the staff and the French Minister of Finance agreed to the take-over. ARQUES (www.arques.de) hereby continues its consolidation efforts within the area of web offset printing in Europe. The company has so far acquired Colordruck Pforzheim GmbH & Co. KG as well as Johler Druck GmbH. The acquisition of the French state printing works is a first step toward internationalisation of web offset printing activities in Europe. The capacity of the ARQUES printing subsidiaries can be substantially expanded by the French company. Furthermore, ARQUES is one of the few German companies to succeed in taking over a French state enterprise. Evry Rotatives is a subsidiary of the French national printing works with its emphasis on web offset printing. The company showed a turnover of over EUR13 million in the first half of 2005. Customers include ministries and regional administrative bodies as well as publishing houses and industrial enterprises. The technical capacities can handle a turnover of over EUR40 million. In accordance with the ARQUES philosophy, the company was taken over free of bank liabilities for a symbolic purchase price. The corporate assets include a modern and unencumbered machinery plant, which is equipped among other things with two 64-page machines and fully automatic post-production machines. The company plant in the south of Paris is situated on an almost 100,000m² large property which is leased at a residual value. The residual value is clearly under the market value. The company has sufficient working capital and cash in hand. “Our planning in the printing segment of the ARQUES subsidiaries includes a substantial increase in capacity and internationalisation, as well as a new management structure with experienced executives,” according to Dr. Dr. Peter Löw, chairman of the ARQUES Industries AG executive board. “We believe that we can realise considerable growth potential in this market.” Within the scope of the “buy and build” strategy which ARQUES pursues in the printing sector, synergies between the individual companies can be used, workflow optimised, and cost savings obtained. During the past months management, technology, distribution and business management of both current ARQUES printers, Colordruck and Johler Druck, were already consolidated. The development of the operational business of the ARQUES printing segment is running at full speed. The management team has been extended and adapted to the ambitious growth goals. Thus Jürgen Groth, with ten years of experience at Gruner + Jahr, Hamburg, could be appointed sales manager. With the appointment of Bodo F. Schmischke (formerly managing director of TSB Tiefdruck Schwann-Bagel, Düsseldorf) as a commercial manager at the beginning of October, the necessary consolidation know-how could be secured. ARQUES subsidiaries 2005 So far this year nine acquisitions were successfully concluded in the ARQUES group. The acquisitions of Johler Druck, the roller shutter manufacturer SKS Stakusit, and Jahnel-Kestermann Getriebewerke in April were followed by the Golf House Group, Circel Grundstücks- und Vermögensverwaltung AG, the photo agency Colourpress.com, as well as the Italian adhesive tape manufacturer Evotape in the third quarter. In September the vehicle manufacturer Sommer Fahrzeugbau was added. A bargain purchase to the value of over EUR15 million can be expected for the fourth quarter after the acquisition of Sommer Fahrzeugbau and Evry Rotatives. About ARQUES ARQUES Industries AG, Starnberg, is a turnaround specialist who focuses on the acquisition and the active restructuring of companies in transitional situations, in order to develop these, with its own team and own resources, to competitive enterprises with a positive yield. ARQUES revitalises its subsidiaries’ potential for creating value for the benefit of all its stakeholders, taking on the relevant social responsibility. ARQUES has made a duty of identifying underestimated companies with reduced survivability but with high appreciation potential, at the same time mastering complex company structures and transitional situations. The shares of ARQUES Industries AG are traded in the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the symbol “AQU” (ISIN: DE0005156004) and are listed in the SDAX since September 19, 2005. Further information: Photo material regarding Evry Rotatives is available to download under www.arques.de/Pressemeldungen. Contact: ARQUES Industries AG Investor Relations Anke Lüdemann Tel.: +49 (0) 8151/ 651 0 Email: luedemann@arques.de DenkLeistung Kommunikationsmanagement Monika Schlesinger Tel.: +49 (0) 8141/ 53 97 02 Email: Monika.Schlesinger@t-online.de End of announcement (c)DGAP 18.10.2005 —————————————————————————— WKN: 515600 ; ISIN: DE0005156004; Index: SDAX Listed: Geregelter Markt (Prime Standard) in Frankfurt; Freiverkehr in Berlin- Bremen, München und Stuttgart 180709 Okt 05