SW Umwelttechnik Stoiser & Wolschner AG

M&A Activity • Jul 20, 1999

News Details

Ad-hoc | 20 July 1999 07:44

Ad hoc-Service: SW Umwelttechnik Prefabricat.

Ad-hoc Mitteilung übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich. —————————————————————————— Press release, 20 July 1999 SW Umwelttechnik: Provisional agreement to acquire the largest prefabrication plant in Eastern Hungary SW Umwelttechnik Stoiser & Wolschner AG entered into an provisional agreement to acquire a 94% interest in Strong Kft. The completion of the acquisition is scheduled for the begin of the forth quarter 1999. Strong Kft. is the leading supplier of prefabricated concrete sections for the residential and industrial construction industry in Hungary, thus further expanding SW Umwelttechnik’s market position in its core building products sector and its presence on the growing Hungarian market. Based in Alsoszolca near Miskolc – the largest industrial town in Eastern Hungary – Strong Kft is well established on the Hungarian market, and has an annual turnover of some ATS 100 mn (EUR 7.267 mn). The overlap between the company’s product lines and sales territory and those of SW Umwelttechnik subsidiary BVM Mibet Kft, located in Miskolc, means that there is room for improvements in profitability in the short as well as longer term. SW Umwelttechnik intends to achieve significant savings at Strong and BVM Mibet Kft’s three operations, by streamlining production and concentrating product lines at given factories, thus merging Strong and Mibet into a single, efficient unit. Strong Kft. represents a continuation of SW Umwelttechnik’s strategy of making acquisitions in its core business sectors – environmental technology and building products – in the growth markets of Central Europe. The focus is on obtaining existing production facilities and market access. Contacts Heinz Wolschner, Member of the Management Board of SW Umwelttechnik Tel: (+43 463) 321 09; fax: (+43 463) 37 6 67 Christian Riel, Investor Relations Tel: (+43 463) 321 09 ext. 23; fax: (+43 463) 37 6 67; e-mail: sw_rch@magnet.at Website: www.sw-umwelttechnik.at Ende der Mitteilung