KROMI Logistik AG — M&A Activity 2008

Sep 16, 2008

News Details

Corporate | 16 September 2008 13:45

KROMI Logistik AG founds subsidiary in Brazil

KROMI Logistik AG / Miscellaneous/Miscellaneous

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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The issuer / publisher is solely responsible for the content of this announcement.

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Hamburg, September 16, 2008 – KROMI Logistik AG (German Securities Code
(WKN) A0KFUJ, ISIN DE000A0KFUJ5), Germany's first tool management provider
to operate independently of a specific manufacturer, has founded a new
subsidiary in Brazil, thus securing access to this key market. The new
company, based in Joinville, the largest city in the southern Brazilian
state of Santa Catarina, was entered in the local commercial register with
the name KROMI Logistica do Brasil Ltda at the start of September. It is
scheduled to start operating activities in the fall of 2008. KROMI has used
local management to form this company. The Managing Board has known this
management team for many years, and the team has excellent experience in
the machining sector.

KROMI Logistik, which has specialized in providing manufacturing companies
with an end-to-end supply of machining tools (for example drills), is thus
expanding and continuing its successful international growth strategy
outside Europe for the first time. 'Brazil has a strong domestic market and
excellent growth rates. Our aim is to establish tool management in this
economic region,' explained Uwe Pfeiffer, CFO and the board member
responsible for the foreign expansion. 'Brazil is a high-potential,
future-proof market for KROMI: All of the industries that we serve in
Europe can also be found in Brazil. In addition, all of the well-known tool
manufacturers already have their own production facilities there,' added
Mr. Pfeiffer.

The first agreement with a potential new customer in Brazil is about to be
concluded. 'We are meeting with strong interest in our services from
customers in Brazil. That is why we are very optimistic that we will be
able to successfully establish our business model in this country and
further increasing our growth potential for the future,' Mr. Pfeiffer
added.

Company profile:
KROMI Logistik AG, as a manufacturer-independent tool provider, offers
producing companies an integrated supply of precision tools. In particular,
KROMI provides technically challenging chip removal tools (abrasion and
bracket tools) for metal and plastic processing. The Company combines
classical tool trading with a peripheral tool supply that includes output
machines in the customer’s production area and an IT-based tool management
and controlling system. The objective of KROMI’s business operations is to
effectively optimize the supply of tools for its clients and to secure the
availability of the appropriate tools at the right time and at the right
place. The company is already present at five locations in Germany and two
abroad (Slovakia, Czech Republic) and is active in six other European
countries. To date, KROMI has primarily focused on customers in the
engineering and aerospace sectors as well as automotive suppliers. In
fiscal year 2007/08, based on preliminary figures, the company recorded
revenues of EUR 40.1 million, EBIT of EUR 3.4 million and consolidated net
income of EUR 2.3 million. KROMI Logistik AG has its roots in Krollmann &
Mittelstädt GmbH, now known as Tarpenring 11 Vermögensverwaltungs GmbH. It
was spun off from this company on November 1, 2002 together with Krollmann
& Mittelstädt Hamburg GmbH.

Investor relations contact:

cometis AG
Henryk Deter
Tel.: +49 (0)611-205855-13
Fax: +49 (0)611-205855-66
E-mail: deter@cometis.de

16.09.2008 Financial News transmitted by DGAP

Language: English
Issuer: KROMI Logistik AG
Tarpenring 11
22419 Hamburg
Deutschland
Phone: 040/537151-0
Fax: 040/537151-99
E-mail: info@kromi.de
Internet: www.kromi.de
ISIN: DE000A0KFUJ5
WKN: A0KFUJ
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of News DGAP News-Service

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