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Kendrion N.V. — M&A Activity 2007
Nov 30, 2007
3857_iss_2007-11-30_ed056aee-7a8b-45f5-8030-2fdce1c00b44.pdf
M&A Activity
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P R E S S R E L E A S E KENDRION N.V.
Purchase Linnig Antriebstechnik completed
With reference to the press release of 14 November 2007, in which was announced that an agreement was reached with the owners regarding the purchase of Linnig Antriebstechnik GmbH, Kendrion NV herewith announces the approval of the German Federal Cartel Office. The closing of the transaction took place on 29 November 2007.
Linnig Antriebstechnik has a turnover of around EUR 40 million and a total of 200 employees. The head office is in Markdorf, Germany. In addition, it has smaller branches in Mexico (51%), the United States, Brazil and China. The company is a worldwide supplier of electromagnetic clutches for engine cooling and air conditioning in buses, especially in the luxury segment, but also for specialised vehicles.
Profile of Kendrion N.V.
Kendrion N.V. designs, manufactures and sells high-quality electromagnetic and metal components. It also processes and distributes semi-finished plastics. The company currently has approximately 3,200 employees in 18 countries worldwide.
Kendrion seeks to develop strong leading positions in selected niche markets in Europe. Its mission is to be a leading international company that uses its existing know-how, innovative skills and commercial strengths to provide effective solutions for its customers in industry. In doing so, it seeks to be a transparent, flexible and reliable company that combines entrepreneurial zest with clear profit objectives.
Kendrion shares are listed on the NYSE Euronext Amsterdam stock exchange.
Zeist, 30 November 2007
Executive Board of Kendrion N.V.
For more information, please contact:
Kendrion N.V. De heer P. Veenema Utrechtseweg 33 3704 HA ZEIST
Tel: 030 – 699.72.50 Fax: 030 – 695.11.65 Website www.kendrion.com