AT&S Austria Technologie & Systemtechnik AG

M&A Activity • Sep 17, 2002

News Details

Ad-hoc | 17 September 2002 07:30

AT&S Austr. T. & Systemt. english

Acquisition of Interest in Adcon Telemetry AG & Strategic Cooperation Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Leoben, September 17, 2002: AT&S Austria Technologie & Systemtechnik AG (NM: AUS) has agreed to acquire a share of 4.61% in Adcon Telemetry AG (NM: TLT). In addition, a strategic cooperation has been agreed. The main purpose is to pool resources efficiently and to be able to work together closely in the area of technology and design. The acquisition of interest will be effected in the context of a capital increase of Adcon Telemetry AG. Of the total issue of 985,582 no-par shares at the price of EUR 1.50 per share, AT&S will be subscribing for 500,000 shares and one third of the remaining shares each will be subscribed for by two existing shareholders and one financial investor. The cooperation agreement is another step in implementing AT&S’s value-add strategy consistently. As a result, by increasing the proportion of embedded and design solutions in printed circuit boards the total cost of our customers’ end products can be further reduced. If you have any inquiries please contact Manfred Weierer, Investor Relations, Tel: +43-3842-200 211, E-Mail: m.weierer@ats.net. end of ad-hoc-announcement (c)DGAP 17.09.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The two companies, listed on the Neuer Markt stock exchange in Frankfurt, have specifically agreed close cooperation in the area of technology and design. As a result, there will be an immediate exchange of know-how between both R&D teams. At the same time, it is planned to offer new solutions in the area of high- quality products as well as to use the partner’s infrastructure equipment. AT&S’s design center in the German town of Nörvenich will also play a significant part in this. AT&S CFO, Harald Sommerer says, “By working closely with Adcon in the area of development and design, we are able to offer these services of increasing strategic importance more quickly than planned to the markets we serve. By pooling all the possible resources, there will be a win-win situation, for both, Adcon and AT&S, and we see our current involvement as a first step and a signal for a long-term cooperation.” On the investment and cooperation, Adcon’s COO, Claus Wortmann says, “In AT&S, we have found the ideal partner in the area of technology. The prospects and synergies, which go beyond a simple investment relationship, arise primarily in the area of R&D, in which we want to work together intensively and where we can benefit from one another within the scope of future design solutions. In addition, we envisage support for our future entry into the Asian market, in which AT&S is very well positioned.” In order to finance the growth of the company on a sustainable basis, Adcon additionally plans to raise limited capital and to issue a convertible bond, through which AT&S intends to further increase its share ownership. The press conference with both Board members, Harald Sommerer, AT&S, and Claus Wortmann, Adcon, taking place at 10:30 a.m. in Vienna today, will be broadcast live on www.ats.net as well as on www.adcon.com. ——————————————————————————– WKN: 922 230; ISIN: AT0000969985; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 170730 Sep 02