Rheinmetall AG — M&A Activity 2003

Oct 2, 2003

News Details

Ad-hoc | 2 October 2003 17:09

Rheinmetall AG english

Rheinmetall to concentrate on Automotive and Defence Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Rheinmetall to concentrate on Automotive and Defence Preh sold to Deutsche Beteiligungs AG Düsseldorf-based Rheinmetall AG will in future concentrate on its two sectors with the highest sales and earnings, Automotive (Kolben-schmidt Pierburg AG) and Defence (Rheinmetall DeTec AG), and withdraw from Electronics (Aditron AG). As a consequence of this decision, Preh-Werke GmbH & Co. KG, Bad Neustadt, has been sold to Deutsche Beteiligungs AG, Frankfurt/Main. In fiscal 2002, the Preh- Werke workforce of around 1,650 generated sales of EUR 219 million. The parties to the deal have agreed not to disclose any further details. Its consummation is subject to approval by the Federal Cartel Office. Before this, Hirschmann Austria GmbH, Rankweil/Vorarlberg, previously a wholly owned subsidiary of the Hirschmann Electronics Group, Neckartenzlingen, had been sold effective January 1, 2003. Neckartenzlingen-based Hirschmann Electronics GmbH & Co. KG, which together with Preh had constituted Rheinmetall’s former Electronics sector, is also due to be contributed to a new partnership. Together, the two core businesses of Rheinmetall AG, Automotive and Defence, generate sales in the region of EUR 3.5 billion and over the past years have grown into profitable units, with clearly defined product portfolios and foremost market positions. Klaus Eberhardt, Rheinmetall AG CEO: “We will focus our efforts on the strategic development of Automotive and Defence and accelerate the globalization of both these core product sectors. Having closely analyzed various options, this strategy has proven to be the most promising in terms of profitability, financial solidity, and value enhancement.” end of ad-hoc-announcement (c)DGAP 02.10.2003 ——————————————————————————– WKN: 703000; ISIN: DE0007030009; Index: MDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard) und Hamburg; Geregelter Markt in München und Stuttgart 021709 Okt 03