RENK Group AG

M&A Activity • Jan 4, 2007

News Details

Ad-hoc | 4 January 2007 15:04

Renk AG: RENK intends to take over turbo and marine gears from MAAG Gear AG

Renk AG / Letter of Intent

Ad hoc announcement according to § 15 WpHG transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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RENK AG, Augsburg, has furnished MAAG Gear AG, Winterthur, Switzerland with
a Letter of Intent according to which RENK AG intends to take over MAAG
Gear AG’s business within new gear types for MAAG turbo gears and the
service for MAAG turbo and marine gears. To continue these business
activities RENK AG wants to partly continue the existing manufacture as
well as the assembly and test rig department with a staff of approx. 50
people at the Winterthur site and intends to organize a worldwide service
for MAAG turbo and marine gears from this site.

For RENK AG, a worldwide leading supplier of high-quality products of power
transmission engineering this step means a supplement of the own product
range, an addition to capacity for the assembly of large gear units as well
as the utilization of synergy effects in the field of service activities
all over the word.

RENK Aktiengesellschaft
The Executive Board

DGAP 04.01.2007

Language: English
Issuer: Renk AG
Gögginger Str. 73
86159 Augsburg Deutschland
Phone: 0821-5700-227
Fax: 0821-5700-573
E-mail: winfried.scheller@renk-ag.com
WWW: www.renk-ag.com
ISIN: DE0007850000
WKN: 785000
Indices:
Listed: Amtlicher Markt in München; Freiverkehr in Berlin-Bremen,
Hamburg, Stuttgart; Open Market in Frankfurt

End of News DGAP News-Service

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