AT&S Austria Technologie & Systemtechnik AG

M&A Activity • Mar 7, 2006

News Details

Ad-hoc | 7 March 2006 08:53

AT & S Austria Technologie & Systemtechnik AG: Acquisition of Korean manufacturer of flexible printed circuit boards Tofic completed

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— AT&S AG, Vienna, Austria, 7 March 2006 On 7 March 2006, after the completion of the preconditions stipulated in the Letter of Intent (LOI) from 8 February 2006, AT&S finalised the acquisition of Tofic Ltd., a Korean manufacturer of flexible printed circuit boards. The initial consolidation of Tofic Co. Ltd. will take place in the first quarter of the 2006/07 financial year, i.e. by 30 June 2006. For the full financial year 2006/07 AT&S expects a revenue contribution from Tofic of roughly USD 40 million. AT&S will delegate its actual controlling Manager, Markus Potzinger as CFO into the management board of Tofic, starting April 1st. ————————————————————————— Informationen und Erläuterungen des Emittenten zu dieser Ad-Hoc-Mitteilung: AT&S and the owners of Tofic signed a Letter of Intent (LOI) on 8 February 2006 to prepare the acquisition of Tofic Ltd. Tofic is a manufacturer of flexible PCBs based in Korea, near Seoul, with a strong focus on the high-tech sector. Tofic’s principal customers are Korean manufactures of mobile phones as well as suppliers for Japanese telecom companies. This LOI included the conditions of an environmental due-diligence audit as well as an audited annual statement for 2005 by PriceWaterhouseCoopers (PWC). Both of these preconditions have been fulfilled now so that AT&S acquires, as stipulated in the LOI, 59% of the Tofic shares on April 1st. Via a capital increase, AT&S will raise its stake in Tofic to 86%. The Founders/Managers of Tofic will still hold the remaining 14%. Further information is available from René Berger, IRO, Tel. + 43-1-68300-9215, e-mail: r.berger@ats.net (c)DGAP 07.03.2006 ————————————————————————— language: English emitter: AT&S Austria Technologie & Systemtechnik AG Fabriksgasse 13 8700 Leoben Österreich phone: +43 (1) 3842 200-0 fax: +43 (1) 3842 200-216 email: ir@ats.net WWW: www.ats.net ISIN: AT0000969985 WKN: 922230 indexes: TecDAX stockmarkets: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hannover, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service —————————————————————————