DGAP-News: Joyou AG: Joint Opinion of Management Board and Supervisory Board on takeover offer of Grohe
(firmenpresse) - DGAP-News: Joyou AG / Key word(s): Offer
Joyou AG: Joint Opinion of Management Board and Supervisory Board on
takeover offer of Grohe
11.04.2011 / 08:49
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Frankfurt am Main, Germany, 11 April 2011. Management Board and Supervisory
Board of Joyou AG have today published their joint statement pursuant to§27 of the German Securities Acquisition and Takeover Act ('WpÜG') on the
public takeover offer of Grohe Asia AG. Management Board and Supervisory
Board recommend to the Joyou shareholders that they do not accept the
takeover offer. The complete joint opinion can be downloaded at the
investor relations section of the website www.joyou.com.
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces
and sells faucets and other sanitary ware products in China under its brand
name 'Joyou' and is also engaged as a OEM/ODM-manufacturer for
international brands and trading companies in the United States and Europe
as well as other emerging markets. In 2009, Joyou was one of the leading
single-brand manufacturers of bathroom, kitchen and other faucets in China
in terms of revenues (according to BSRIA). Joyou has established an
extensive distribution network in China with 3,596 retail points of sales
as of 31 December 2010.
Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian
Province in China. Joyou's five main product groups sold in its own brand
business are bathroom faucets, kitchen products, shower products as well as
other bathroom products and other faucets and sanitary hardware. In 2010,
Joyou realised group revenues of EUR 246.6 million, an operating profit
(EBIT) of EUR 43.7 million and a net profit of EUR 33.2 million
(preliminary results).
For further information, please contact:
Joyou AG
Westhafentower, Westhafenplatz 1,
60327 Frankfurt am Main
Ian M Oades, tel +86-595-8618 8883, ir(at)joyou.net
Kirchhoff Consult AG
Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht(at)kirchhoff.de
or visit the company website at: http://www.joyou.com
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Joyou's current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialize or if the assumptions underlying any of Joyou's forward-looking
statements are proving to be incorrect, Joyou's actual results may be
materially different from those expressed or implied by such
forward-looking statements. Joyou does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
End of Corporate News
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11.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:English
Company: Joyou AG
Westhafentower, Westhafenplatz 1
60327 Frankfurt am Main
Deutschland
E-mail: ir(at)joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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119242 11.04.2011
Datum: 11.04.2011 - 08:49 Uhr
Sprache: Deutsch
News-ID 33749
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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