STO SE & Co. KGaA — M&A Activity 2002

Jul 3, 2002

News Details

Ad-hoc | 3 July 2002 11:22

Sto AG english

Sto AG englisch: Sto becomes sole owner of ispo Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Sto becomes sole owner of ispo Option on the remaining 40 percent of the stock exercised Strengthened market position and strong potential synergies With immediate effect, Sto AG, the building facades specialist and the leading international manufacturer of compound heat-insulating systems, has acquired the remaining 40 percent in Kriftel-based ispo GmbH. The latter company, likewise active in the field of building facades, is now wholly owned by Sto AG. As at year-end 2001, Sto had acquired a 60-percent stake in ispo, which formerly belonged to Dyckerhoff AG. The purchase option to the remaining 40 percent agreed at that time has now been exercised. The parties to the contract agreed to keep the terms of the transaction confidential. By taking over ispo, the Sto Group is going forward with expansion of its share of the facade insulation system market in Germany and is also strengthening its position in markets outside Germany. Moreover, the integration of ispo, which is already well under way, will lead to synergies in all sectors of the group. CEO Jochen Stotmeister suggested that these synergies will make a tangible beneficial impact at the latest as of 2003. Sto AG expects to book Group sales in financial 2002 of some Euro 650 million, as against Euro 460.5 million the prior year (excl. ispo). Sto believes that Group profits will likewise increase significantly over the prior year, when it recorded Group net income of Euro 9.2 million. Contact: Erwin Hauser, CFO, Tel. +49-7744-571241, Fax: +49-7744-572368 end of ad-hoc-announcement (c)DGAP 03.07.2002 ——————————————————————————– WKN: 727413; ISIN: DE0007274136; Index: SDax Listed: Amtlicher Handel in Frankfurt (SMAX)und Stuttgart; Freiverkehr in Berlin und Hamburg 031122 Jul 02