Ad-hoc | 27 March 2007 16:14
IWKA AG / Disposal/Strategic Company Decision
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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The company's Executive Board has completed its analysis regarding the
possibility of selling the Packaging division and has decided to sell the
Packaging division's companies. The Supervisory Board approved the decision
on March 27, 2007. Subject to approval by the relevant trust authorities,
the companies will be sold to funds of the Berlin-based investment company
Odewald & Compagnie.
The sale will generate a book profit. As a result, the IWKA Group expects
an earnings contribution from discontinued operations of at least about EUR
50 million for the 2007 business year. The enterprise value of the
Packaging division on which the sale is based is approx. EUR 240 million.
In addition, a substantially utilized property belonging to the Packaging
division will be sold at a price of EUR 17 million. The total amount of the
transaction is therefore approx. EUR 255 million.
The Packaging division comprises more than 20 companies located in Europe,
North and South America and Asia. It had sales of approx. EUR 400 million
and more than 2,500 employees in 2006.
The Executive Board and the Supervisory Board have also decided to table a
resolution to amend the articles of association at the annual general
meeting of the company on May 16, 2007, proposing that the name 'IWKA
Aktiengesellschaft' be changed to 'KUKA Aktiengesellschaft'.
Karlsruhe, March 27, 2007
The Executive Board
Contact:
Herr von Muenchhausen
Tel.: +49 (0)721 143-325
Fax: +49 (0)721 143-331
E-Mail: v.muenchhausen@iwka.de
DGAP 27.03.2007
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Language: English
Issuer: IWKA AG
Postfach 3409
76020 Karlsruhe Deutschland
Phone: +49 (0)721 143 - 0
Fax: +49 (0)721 143 - 331
E-mail: info@iwka.de
www: www.iwka.de
ISIN: DE0006204407
WKN: 620440
Indices: MDAX
Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (Prime Standard),
Hannover, München, Hamburg, Düsseldorf, SWX, Stuttgart
End of News DGAP News-Service
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