OHB SE — M&A Activity 2002

Sep 10, 2002

News Details

Ad-hoc | 10 September 2002 13:15

OHB Teledata AG english

OHB Teledata AG manages to gain access to French market Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– OHB Teledata AG manages to gain access to French market Acquisition of a 34% equity interest in ELTA, specialists in high-performance electronics Strategically important acquisition for the space travel division Bremen, September 10, 2002 Within the scope of the French privatization project, OHB Teledata AG acquired a 34% holding in ELTA S.A., Toulouse. ELTA has been engaged in the development and construction of electronics systems for aviation and space travel since 1975; these systems meet the highest of safety and security requirements. The product range extends from data recording and measurement devices as well as tracing and control equipment all the way to orbital transfer facilities. For OHB, the products represent an ideal complement of its own product range. For many years, ELTA has been associated with key corporate and business sectors in France in the course of projects and supply agreements. Accordingly, the participation in ELTA is opening up connections with new customer groups and market segments for the OHB Group in the important French market, where it has thus far been underrepresented. This applies particularly to the field of aerospace, but also to telematics. ELTA generated profitable results last year on revenues of EUR 15.6 million; for the current year revenues are planned to reach EUR 15.8 million. Due to the favorable price/earnings ratio this acquisition will result in a significantly higher return on the OHB Group’s portfolio of equity interests. Even if more than 50% of the capital stock were acquired, an improvement in key yield figures would be guaranteed. The new holding will considerably facilitate and boost access to the French aviation and aerospace market. In doing so, OHB is consistently continuing on its course of European internationalization. end of ad-hoc-announcement (c)DGAP 10.09.2002 ——————————————————————————– WKN: 593612; ISIN: DE0005936124; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 101315 Sep 02