MAX Automation SE — M&A Activity 2002

Apr 29, 2002

News Details

Ad-hoc | 29 April 2002 14:20

M.A.X. Holding AG english

M.A.X. Holding plans further portfolio restructuring Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– M.A.X. Holding plans further portfolio restructuring Munich, 29 April 2002. M.A.X. Holding AG will undertake a further extensive restructuring of its investment portfolio, as part of strategic re-orientation measures launched in the year 2000. After selling off its building and heating technology segments in 2001, the medium-sized holding company now plans to focus on automation and environmental technology, two of the most dynamic areas in the field of mechanical and industrial engineering, and dispose of its conveyor technology and plant engineering divisions. M.A.X. Holding AG plans to sell off its subsidiaries EUROROLL, FAWEMA Maschinenfabrik, DMA Maschinen- und Anlagenbau and BTD Behältertechnik Dettenhausen (container technology; formerly Nau-Group) by the end of 2003 and utilize the funds thus generated to slash M.A.X. Holding’s already drastically reduced bank debts. An equity allocation planned for 2003 will supply the financing for at least one acquisition in the field of environmental technology. In the view of the Managing Board, these actions – which have the approval of the Supervisory Board – will develop a more homogeneous corporate structure and make the company more attractive for potential investors. Details to the concept are presented on a press conference at 17.00 o’clock in Munich. To date, M.A.X. Holding’s registration with the SMAX Index has failed to generate the anticipated dynamism; in addition, reorganization of accounting along IAS or US-GAAP lines, mandatory for SMAX members since 2002, is linked with disproportionately high costs, so that the company plans to withdraw its SMAX registration. Based on the current portfolio, M.A.X. Holding anticipates increased profits from ordinary business activities for 2002 for both the public limited company (AG) and group. In addition, a dividend payout is planned for 2002 after the cancellation of dividends for the previous two years. Contact: Frank Elsner Kommunikation für Unternehmen GmbH, Tel.: +49-5404-91 92 0, Fax: +49-5404-91 92 29 end of ad-hoc-announcement (c)DGAP 29.04.2002 ——————————————————————————– WKN: 658090; ISIN: DE0006580905; Index: SDax Listed: Geregelter Markt in Frankfurt (SMAX) und München; Freiverkehr in Berlin, Hamburg und Stuttgart 291420 Apr 02