PNE AG — M&A Activity 2003

May 21, 2003

News Details

Ad-hoc | 21 May 2003 08:32

Plambeck Neue Energien english

Plambeck Neue Energien AG takes Over Danish Manufacturer of Rotor Blades Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Cuxhaven, May 21st, 2003 – Plambeck Neue Energien AG in Cuxhaven is taking over 50.1 per cent of the Danish manufacturer of rotor blades for wind energy generators, SSP Technology A/S. SSP has access to innovative technology and is able to manufacture lighter and more efficient rotor blades, which should be used for 20 years. The purchase price is about 5.5 million shares of the approved capital of Plambeck Neue Energien AG. The previous shareholders of SSP are the joint managing directors, Flemming Soerensen and Rune Schytt-Nielsen with 10 per cent each and Plambeck Holding AG with 80 per cent. Both managing directors will continue to be associated with the company for a long time and both still have 7.5 per cent each of the shares and Plambeck Holding AG still has 34.9 per cent. Plambeck Neue Energien AG has a one-year option to increase its share to 90 per cent. The takeover provides Plambeck Neue Energien AG with several advantages. It assures exclusive access to an important innovation. SSP rotor blades technology increases the energy yield from wind power generators and improves the economic efficiency of wind farm projects. The technology reduces the servicing costs of the operators, reduces the risk of damage to the plant and makes it possible for turbine manufacturers to build lighter and cheaper plants. SSP-technology is in particular suited to build large rotor blades up to the multi-megawatt class turbines. Sales of SSP production is secured for the next years. Plambeck Neue Energien AG expects short-term positive results from the takeover and in the long-term a lasting improvement in all of the company-relevant figures. Plambeck Neue Energien AG Public Relations Department If you have any queries, please contact: Rainer Heinsohn, Public Relations Manager Tel.: 04721/ 718-453, e-mail: heinsohn@plambeck.de end of ad-hoc-announcement (c)DGAP 21.05.2003 ——————————————————————————– WKN: 691032; ISIN: DE0006910326; Index: TecDAX, NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen Düsseldorf, Hamburg, Hannover, München und Stuttgart 210832 Mai 03