Almost half a dozen prospective investors interested in BÖWE SYSTEC
(Thomson Reuters ONE) -
BÖWE SYSTEC AG / Almost half a dozen prospective investors interested in BÖWE SYSTEC processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
· Selection process started, operating business continues uninterrupted
· "NewCo" established for long-term viability of the company
Augsburg, 27 June 2010 - Almost half a dozen investors are interested in
acquiring BÖWE SYSTEC and its various business activities. "This week, we
conducted first talks. Our sales process is therefore fully on schedule," says
preliminary insolvency administrator Werner Schneider. In mid-May, BÖWE SYSTEC
AG had initiated insolvency proceedings, but continued business operations
without interruption under Schneider.
Schneider plans to commence definite sales negotiations with select prospective
investors next week. "The great interest of the potential investors makes me
even more confident that we will close the sale quickly," Schneider said.
The Augsburg-based mailroom systems manufacturer established a new company, BÖWE
SYSTEC GmbH, in order to secure its long-term viability. The new company
combines all German, European, and Japanese activities of the Augsburg-based
mailroom systems manufacturer as well as the company Lasermax Roll Systems.
Having its own independent financial structure the US-business is not affected
by the German insolvency. According to Schneider, the American business also has
continued uninterrupted, deliveries from Germany are as usual, delivery dates
are kept, and suppliers are as always paid on time.
The preliminary insolvency administrator intends to complete the sale of the
business of the newly founded BÖWE SYSTEC GmbH by late-July. "Currently, we are
not only assessing some serious bids, but we are also exploring the best
concepts. In doing so we focus on prospective investors to come with a long-term
plan including an effective continuation concept. But we also deem it very
important that existing production plants at headquarters in Augsburg and
consequently jobs are secured", said CEO Oliver Bialowons, who supports Werner
Schneider in the search for a viable solution for the future. However, the
previous decision to reduce 130 jobs in Augsburg is definite.
BÖWE SYSTEC is European market leader for mailroom systems. The public
corporation (AG) affected by the insolvency employs almost 600 people. The
international headcount of the Group is approximately 3,600. In 2009, the Group
generated consolidated revenues of ? 367.1 million or 13.5% less than in the
previous year due to the recession. Although the new top management of BÖWE
SYSTEC AG has introduced dramatic restructuring measures since early-2009, the
company had to file for insolvency by mid-May because it lacks a sound financing
concept.
Contact:
CNC
Roland Klein / Karline Nitsch
Roland.Klein(at)cnc-communications.com
Karline.Nitsch(at)cnc-communications.com
Mobile: + 44 777 616 2997 or + 49 172/8319192
[HUG#1427689]
--- End of Message ---
BÖWE SYSTEC AG
Investor Relations
Werner-von-Siemens-Str. 1 Augsburg null
WKN: 523970;ISIN: DE0005239701;
Listed: Regulierter Markt in Frankfurter Wertpapierbörse;
PR BÖWE SYSTEC AG: http://hugin.info/130395/R/1427689/375321.pdf
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Source: BÖWE SYSTEC AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 28.06.2010 - 10:24 Uhr
Sprache: Deutsch
News-ID 23098
Anzahl Zeichen: 0
contact information:
Town:
Augsburg
Kategorie:
Business News
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