SW Umwelttechnik Stoiser & Wolschner AG

Regulatory Filings • Nov 4, 1999

News Details

Ad-hoc | 4 November 1999 07:45

Ad hoc-Service: SW Umwelttechnik Strong Kft.

Ad-hoc Mitteilung übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich. —————————————————————————— Press release, 4.11.1999 SW Umwelttechnik takes over Strong Kft. Acquisition of largest prefabrication plant in eastern Hungary completed SW Umwelttechnik Stoiser & Wolschner AG has completed the acquisition of Strong Kft., and now holds a 100% interest in the company. Strong Kft. is the largest supplier of prefabricated concrete sections in eastern Hungary and market leader in this region. It specializes in producing prefabricated concrete elements for halls, housing, traffic control and power masts. Customers include Billa, Metro, Baumax, Interspar, Audi, Porsche, Suzuki and Budapest Airport. The company recently won an order worth some ATS 20 mn (EUR 1.5 mn) from an international supermarket chain for the construction of an out-of-town shopping complex. Strong Kft. has a well-equipped production facility in the major industrial town of eastern Hungary, Miskolc, and is well positioned on the Hungarian market. The annual turnover is approx. ATS 100 mn (EUR 7.267 mn). Following the acquisition of Strong Kft. SW Umwelttechnik is pursuing the following objectives: * Strengthening of its position in Hungary – a growth market and a certain participant in the next round of EU enlargement. * Exploitation of synergies between the previous direct competitors, SW Umwelttechnik subsidiary Mibet Kft. and Strong Kft. In the short term, improved profitability is achievable by eliminating overlap between the production and sales territories of the two companies. For example, process optimization will yield energy savings of approx. 50% within the next six months. * The two companies are to be merged as “Strong & Mibet Kft.” as of 1 January 2000. The acquisition of Strong Kft. is another milestone in the expansion strategy of SW Umwelttechnik. Further acquisitions are planned in Austria, the Czech Republic, Hungary and Poland in the next few years. 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 (photos) Ende der Mitteilung