Funkwerk AG

M&A Activity • May 22, 2003

News Details

Ad-hoc | 22 May 2003 07:29

Funkwerk AG english

Funkwerk acquires BinTec Access Networks GmbH Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Funkwerk acquires BinTec Access Networks GmbH Private Networks segment extended – New sales channel for markets in Western and Southern Europe – Anticipated sales for 2003 increased Funkwerk AG will be taking over BinTec Access Networks GmbH and with it, the entire fixed assets and any rights of BinTec Communications AG, currently in the process of winding up. With this investment, the leading supplier of pro- fessional communication systems for traffic and logistics will be extending its Private Networks business segment according to plan. Thanks to the BinTec Access systems, Funkwerk will in future be able to operate as a supplier of complete network solutions for companies. At the same time, the company will be opening up a new sales channel, in particular for markets in Western and Southern Europe. Both sides have agreed not to disclose the purchase price. With retroactive effect from 1 May 2003, Funkwerk will acquire all of the shares in the Nuremberg manufacturer of network access solutions. To maintain the business operations of BinTec Communications AG i.L., BinTec Access Networks GmbH was established as a marketing company in February 2003. In addition to the tangible and intangible assets, this includes 100 per cent of the BinTec subsidiary, DERIF S.A.S., France, operating successfully on the markets in France, Portugal, Italy, and Spain. BinTec Access Networks GmbH with its current staff of around 75 will continue to be managed as a legally independent organisation seated in Nuremberg by its Managing Directors, Stephan Feige and Thomas von Baross. With the acquisition of BinTec, Funkwerk will be gaining a sales potential of around 15 million Euro for 2003. Thus, the previous sales and profit planning for the current financial year (sales: 126 million Euro, EBIT: 11 million Euro) can be adjusted upwards. end of ad-hoc-announcement (c)DGAP 22.05.2003 ——————————————————————————– WKN: 575314; ISIN: DE0005753149; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 220729 Mai 03