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Funkwerk AG — M&A Activity 2012
May 7, 2012
5398_rns_2012-05-07_9b0eb158-7cd4-436e-be59-844ce6cb0723.html
M&A Activity
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Ad-hoc | 7 May 2012 17:31
Funkwerk AG: Merger of Hörmann-Funkwerk Kölleda GmbH (FWK) with and into Funkwerk AG
Funkwerk AG / Key word(s): Strategic Company Decision
07.05.2012 17:31
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Merger of Hörmann-Funkwerk Kölleda GmbH (FWK) with and into Funkwerk AG
Contract due for approval at annual shareholders' meeting
Kölleda, 7 May 2012 - The Executive Board and the Supervisory Board of
Funkwerk AG have decided today to go ahead with the merger of
Hörmann-Funkwerk Kölleda GmbH (FWK) registered in Kölleda ('FWK') with and
into Funkwerk AG. Funkwerk AG holds the full stake in FWK.
Within the framework of the merger, all the assets of FWK will be
transferred to the parent company, Funkwerk AG. As a result, FWK will cease
to exist once the merger takes effect.
Funkwerk AG will submit the merger contract to its shareholders for
approval at the annual shareholders' meeting on 22 June 2012.
Hörmann-Funkwerk Kölleda GmbH, which reported a shareholders' equity under
IFRS of EUR 23.6m as at 31 December 2011, employs around 225 people. In
fiscal 2011, the company generated sales of EUR 34.2m along with an EBIT of
EUR 6.4m. Its annual net profit before profit transfer totalled EUR 1.4m
(IFRS). FWK is part of the Traffic & Control Communication segment of
Funkwerk AG specialising in the development of stationary and mobile
communication system solutions for mobile rail transport and railway
infrastructures.
The merger is a major milestone in the process of reorientation implemented
at the Funkwerk group to increase its competitive strength and improve its
earning power. Key strategic goals include the simplification of corporate
structures, a more consistent focus of its the operating units on
appropriate target groups, and the centralisation of cross-divisional
functions such as administration, purchasing and production. A more
streamlined organisation will also facilitate the planned optimisation of
the group's supply chain management.
For more information please contact:
Funkwerk AG
Jörg Reichenbach
Investor Relations
Phone: 08091 / 52-126
Fax: 08091 / 52-221
[email protected]
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Language: English
Company: Funkwerk AG
Im Funkwerk 5
99625 Kölleda
Germany
Phone: +49 (0)3635 600 0
Fax: +49 (0)3635 600 507
E-mail: [email protected]
Internet: www.funkwerk.com
ISIN: DE0005753149
WKN: 575314
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service