INDUS Holding AG

M&A Activity • Jul 23, 2004

News Details

Ad-hoc | 23 July 2004 12:55

INDUS optimises investment portfolio

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– INDUS optimises investment portfolio Bergisch Gladbach, 23 July 2004 – INDUS Holding AG has sold its shares in OKIN Gesellschaft für Antriebstechnik mbH & Co. KG, Gummersbach, to EQUITA Management GmbH, Bad Homburg, which is owned by the Harald Quandt Group, effective 1 July 2004. OKIN is the world market leader for special electric drives for furniture and is forecasting sales of around EUR 100 million in 2004. The company’s manufacturing operations are based in Poland, Hungary and China among others. OKIN employs a staff of 900. OKIN’s growth in the past and, in particular, its strong growth expected in future has reached a point that INDUS feels could unsettle the existing balance of its portfolio. With this disposal, INDUS Holding AG has taken a step towards optimising its investment portfolio. The successful strategic alignment of INDUS will continue to be a guideline for its activities. In future, the growing strength of market changes will put greater demands on its active portfolio management. The planned reinvestment of INDUS’ proceeds from the disposal will allow further earnings and risk diversification of its portfolio. The parties to the sale have agreed not to disclose the price paid. end of ad-hoc-announcement (c)DGAP 23.07.2004 ——————————————————————————– WKN: 620010; ISIN: DE0006200108; Index: SDAX Listed: Geregelter Markt in Düsseldorf und Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hamburg, München und Stuttgart 231255 Jul 04