Muehlhan AG

M&A Activity • Mar 4, 2010

News Details

Corporate | 4 March 2010 08:55

Muehlhan AG: Blasting and coating halls sold

Muehlhan AG / Contract/Strategic Company Decision

04.03.2010 08:55

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

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PRESS RELEASE

Muehlhan disposes of blasting and coating halls

Hamburg, 3 March 2010 - Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7) has
sold all owned blasting and coating halls located at a shipyard site in
northern Germany. They were sold at their book value. The parties have
agreed to keep the exact purchase price confidential.
The newest of the total of four halls was put into operations as recently
as at the beginning of 2009. The investment costs back then were slightly
higher than 2 million Euros. This reflects the impact on Muehlhan of the
upheavals in the German shipbuilding market. Specifically, the recent
virtual collapse in demand for cargo ships means that capacity at the site
would not be utilized in the future.

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 μ-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
some 2,500 employees around the world generated sales revenue of more than
EUR 206 million (IFRS). For further information visit
http://www.muehlhan.com

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

04.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: 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

End of News DGAP News-Service

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