DGAP-News: KINGHERO AG: KINGHERO takes over two suppliers
(firmenpresse) - KINGHERO AG / Key word(s): Acquisition
06.10.2010 14:21
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- Acquisition of knitting company due to increased demand for high quality
knitted fashion products
- Acquisition of zipper manufacturer in order to reduce costs and assure
quality
- Total investment volume of 2.5 million Euro, as anticipated
Munich, October 06, 2010. In order to further vertically integrate the
Company's value chain, the KINGHERO Group, a fast-growing Chinese fashion
group of companies, acquires a knitting company and a zipper manufacturer
in China. The companies' owners and KINGHERO have mutually agreed on the
acquisitions via asset deal. The transactions are expected to be closed in
October 2010. The total investment volume of the two acquisitions amounts
to 2.5 million Euro, as previously anticipated by the management.
'As announced in our IPO, we will invest parts of the proceeds in the
acquisition of a knitting business and a zipper company. Via the asset deal
we will not just acquire manufacturing equipment, but also expand our
workforce by know how and professional employees, we have been working with
for a long time. This will help us to improve our profitability, the brand
image, as well as the quality of our products. The value chain of fashion
production of KINGHERO is expected to be vertically integrated to an even
higher degree, further improving response time and flexibility. Due to the
improvement of the operational margins, we plan to recover the investments
within 24 months, if our business develops as expected', states ZHANG Yu,
founder and CEO of KINGHERO.
About KINGHERO AG
KINGHERO AG is the German Holding Company of the KINGHERO Group of
companies, mainly active in the Peoples Republic of China (PRC). The Group
is a strongly growing apparel manufacturer and designer, featuring a
leading Chinese fashion brand for the strongly growing urban middle class
in China. The key to the Company's success is a high fashion degree with a
European 'touch and feel' as well as an upscale quality. The high speed of
the design and marketing of new collections ensures a fit to the changing
demands of the growing urban middle class in China. Being in this business
for more than 25 years, the group and its 910 employees produce attire for
all seasons under the KINGHERO brand. The product portfolio includes suits,
jackets, shirts, pants, sweaters for men and women and is divided into a
business casual range and a general casual range.
Disclaimer
This publication is not an offer of any securities for sale or a
solicitation of an offer to purchase any securities. The shares have been
sold.
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of
KINGHERO AG (the 'Shares') have not been registered under the U.S.
Securities Act of 1933, as amended (the 'Securities Act') and may not be
offered or sold in the United States unless registered under the Securities
Act or pursuant to an exemption from such registration. There will be no
public offering of the Shares in the United States and the Shares will not
be registered under the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
Kirchhoff Consult AG
Verena Rauch
Phone: +49 (0)40 60 91 86 0
verena.rauch(at)kirchhoff.de
KINGHERO AG
Montenstr. 11
80639 Munich
Germany
Phone: +49 (0)89 12 71 13 29
xiaoping.zhao-moll(at)kinghero.de
06.10.2010 14:21 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: KINGHERO AG
Montenstr. 11
80639 München
Deutschland
Phone: 089 - 127 11 329
Fax: 089 - 127 11 313
E-mail: contact(at)kinghero.de
Internet: www.kinghero.de
ISIN: DE000A0XFMW8
WKN: A0XFMW
Listed: Freiverkehr in Hamburg, Düsseldorf, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of Announcement DGAP News-Service
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Datum: 06.10.2010 - 14:21 Uhr
Sprache: Deutsch
News-ID 32313
Anzahl Zeichen: 0
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Kategorie:
Business News
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