Muehlhan AG

Legal Proceedings Report • Aug 14, 2009

News Details

Corporate | 14 August 2009 08:17

Muehlhan AG: Muehlhan achieves first partial success in Golden Gate Bridge lawsuit

Muehlhan AG / Legal Matter/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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* Settlement for USD 3.8 million

Hamburg, 14 August 2009 - Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7)
has reached an out-of-court settlement in its legal dispute with the
general contractor of the 'Golden Gate Bridge Retrofit Project', which has
been ongoing since 2007. Under the terms of the settlement, the previously
disputed outstanding accounts receivable of USD 2.4 million relating to the
Service Agreement will be paid in full. In addition, Muehlhan will receive
an additional USD 1.0 million for reimbursement of expenses and USD 0.4
million in interest. After deducting legal fees, the positive effect on
earnings in the third quarter will total approximately EUR 0.7 million.
In 2006 and 2007, the project overshadowed the takeover of the Californian
bridge-renovation company CCC, which encountered substantial problems
completing the work.
Muehlhan is also pursuing guarantee claims against the former shareholder
of the company.

About Muehlhan:
The Muehlhan Group is a leading world provider of marine surface
protection. Its core business consists of applying and renewing corrosion
protection coatings to steel structures. They include steel surfaces of
ships and of oil and gas rigs and platforms. The Muehlhan Group is also
active in the Industry Services segment, which, besides scaffolding for
marine and industry customers, includes surface protection for wind
turbines, chemical production plants, and fuel storage depots, steel
bridges, cranes, and machinery. The company's patented technology
brand-named ?-jet(R) guarantees especially high quality and efficiency in
the removal of old coatings and rust, particularly in the open sea.
Muehlhan was established in Hamburg in 1881. For 2008 the company with its
more than 2,000 employees around the world generated sales revenue of more
than EUR 206 million (IFRS). For further information visit www.muehlhan.com

Press contact: Ties Kaiser c/o Muehlhan AG, Phone +49 40 752 71 156, email:
kaiser@muehlhan.com
14.08.2009 Financial News transmitted by DGAP

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Language: English
Issuer: Muehlhan AG
Schlinckstrasse 3
21107 Hamburg
Deutschland
Phone: +49 40 75271 0
Fax: +49 40 75271 130
E-mail: investorrelations@muehlhan.com
Internet: www.muehlhan.com
ISIN: DE000A0KD0F7
WKN: A0KD0F
Listed: Freiverkehr in Berlin, München, Hamburg, Stuttgart; Entry
Standard in Frankfurt

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