Dürr AG — M&A Activity 2005

Sep 30, 2005

News Details

Ad-hoc | 30 September 2005 17:52

Dürr and HORIBA Ltd. close contract selling Dürr’s DTS business unit

Ad hoc announcement §15 WpHG Closing Dürr and HORIBA Ltd. close contract selling Dürr’s DTS business unit Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Dürr and HORIBA Ltd. close contract selling Dürr’s DTS business unit Stuttgart, September 30, 2005 – Dürr AG, Stuttgart, and the Japanese firm, HORIBA Ltd., Kyoto, have closed the contract selling Dürr’s Development Test Systems business unit (DTS) to HORIBA effective September 30, 2005. The antitrust authorities have approved the sale. The proceeds from the transaction of about EUR 27 million have been realized effective September 30, 2005. The transaction has been completed with a mostly neutral effect on earnings. The contract of sale between Dürr and HORIBA was signed, as reported by Dürr, on August 17, 2005. DTS is a leading supplier of test systems for vehicle development, such as engine and transmission test stands. The sale comprised the DTS lead company, Schenck Pegasus GmbH, Darmstadt, Germany, and six other DTS companies and holdings of the Schenck group, which belongs to Dürr. DTS achieved sales revenue of EUR 75 million with about 500 employees in 2004. In selling DTS, Dürr is parting with a peripheral area of its portfolio. In the framework of its recently announced FOCUS program, Dürr is concentrating on its core business. The aims of the FOCUS program include not only cost reduction, but also increased orientation of the business model to higher- margin modernization and service business. Contact: Dürr AG, Stephan Haas, phone: +49 (0)711 136-1785 Dürr Aktiengesellschaft Otto-Dürr-Strasse 8 70435 Stuttgart – Zuffenhausen Deutschland ISIN: DE0005565204 WKN: 556520 Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Stuttgart; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg und Hannover End of ad hoc announcement (c)DGAP 30.09.2005 301752 Sep 05