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Ringmetall AG
Board/Management Information • Jul 25, 2016
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Board/Management Information
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Corporate | 25 July 2016 09:59
Ringmetall announces minor acquisition in the USA and changes in the Supervisory Board
DGAP-News: Ringmetall Aktiengesellschaft / Key word(s): Takeover/Change of Personnel
2016-07-25 / 09:59
The issuer is solely responsible for the content of this announcement.
Ringmetall announces minor acquisition in the USA and changes in the Supervisory Board
– Takeover of clamping ring production of a major US client
– Sales contribution of almost one million US dollar per year
– Thilo von Selchow new chairman of the Supervisory Board
Munich, 25 July 2016 – Ringmetall AG (ISIN: DE0006001902) , an internationally leading specialist in the packaging industry, acquires the clamping ring production of a major client in the USA via an asset deal and intends to integrate it into the production of its US subsidiary Self Industries. The yearly sales contribution from the acquisition amounts to almost one million US dollar. In addition buyer and seller agreed on a long-term delivery contract.
‘The acquisition is not of decisive financial extent’, Christoph Petri, spokesperson of the Managing Board of Ringmetall Group, stresses. ‘But it well underlines the industry trend to outsource the clamping ring production to specialized companies and thus ensure a better product availability even in case of higher production fluctuations. Being the world market leader, Ringmetall is very well positioned for this trend and will continue to benefit from it in the years to come.’
Furthermore the company applies modifications to the composition of its Supervisory Board. Hubertus Reincke resigned from his position as Chairman of the Supervisory Board for personal reasons. Until the day of the General Meeting on August 30 th , he will serve as a regular member of the Supervisory Board. The position of the Chairman of the Supervisory Board will henceforth be adopted by Thilo von Selchow and the position of the Deputy Chairman by Markus Wenner.
With the complete resignation of Hubertus Reincke from the Supervisory Board effective at the General Meeting on August 30 th , the management intends to propose Mr. Ralph Heuwing as new member of the Supervisory Board. Ralph Heuwing is CFO of Dürr AG since 2007 and has many years of experience in the engineering industries and in strategy consulting, making him the ideal candidate to support and advise the company on its further expansion course. Further information about Ringmetall Group and its subsidiaries is available at www.ringmetall.de.
Contact:
Ingo Middelmenne
Investor Relations
Ringmetall AG
Phone: +49 (0)89 45 220 98 12
Email: [email protected]
About Ringmetall Group
Ringmetall is an internationally leading specialist in the packaging industry. The Industrial Packaging business segment offers highly secure gasket and locking systems for packaging in the chemical, the petrochemical and the pharmaceutical industry as well as the food industry. The Industrial Handling business segment develops application-optimized vehicle accessory parts for the handling and transport of packaging units. Besides its headquarters in Munich, Ringmetall has worldwide production and sales subsidiaries in Germany, Great Britain, Spain, Italy, Slovakia, Turkey, the Netherlands, as well as in China and the USA. On a global scale, Ringmetall generates revenues of more than EUR 90 million per year.
Further information is available at www.ringmetall.de.
Contact:
Ingo Middelmenne
Head of Investor Relations
Ringmetall AG
+49 89 45 22 098 – 12
2016-07-25 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Ringmetall Aktiengesellschaft |
| Mannhardtstr. 6 | |
| 80538 München | |
| Germany | |
| Phone: | 089 / 45 22 098 – 0 |
| Fax: | 089 / 45 22 098 – 22 |
| E-mail: | [email protected] |
| Internet: | www.ringmetall.de |
| ISIN: | DE0006001902 |
| WKN: | 600190 |
| Listed: | Regulated Unofficial Market in Berlin, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt |
| End of News | DGAP News Service |