Corporate | 28 July 2008 10:39
OHB Technology AG / Acquisition
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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OHB SHAREHOLDING ELTA S.A. EXTENDS ITS SPACE ACTIVITIES
BY ACQUIRING SMP S.A., TOULOUSE
Bremen/Toulouse, July 28, 2008. ELTA S.A. (Toulouse), a joint company of
AREVA and OHB Technology (ISIN: DE0005936124, Prime Standard), acquired
completely SMP S.A. (Systèmes Midi Pyrénées) in Toulouse (France) from its
current directors (71%) and its former chief executive (29%).
SMP, located in Toulouse, has been designing and manufacturing electronic
equipment and components aimed at space satellite communication, with
particular emphasis on the satellite ground stations segment for over 30
years. The company is involved in the main French and European space
programmes. Within the SAR-Lupe project, SMP has delivered radiofrequency
equipment for the ground station to OHB. SMP is also expanding its export
activities to clients in more than 15 countries outside Europe.
With this acquisition ELTA strengthens its offer in radiofrequency-based
solutions and targets to enhance its presence in the field of wireless
communications used in harsh environment.
Direct and mid-term benefits for the OHB Group from the SMP acquisition:
- OHB Group will benefit from SMP’s expertise in radiofrequency products
and solutions.
- SMP’s technology will enable the OHB Group and ELTA to develop new
markets and permeate new industrial sectors.
- SMP’s creation of long-lasting commercial/industrial links with the two
main countries with space ambitions (India and China) offers additional
opportunities for the OHB Group.
SMP realised total revenues of EUR 8.5 million and achieved an operating
profit of EUR 1.0 million in 2007. The company has no financial debts. The
company allocates more than 15% of annual revenues to research and
development and employs 47 staff, more than 60% of whom are engineers and
senior technicians.
The acquisition is completely financed from ELTA’s own resources.
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ELTA S.A. is a subsidiary of both OHB Technology (34%) and AREVA (66%).
With a staff of 65,000, AREVA is world leader in energy technologies. ELTA
realised total revenues of EUR 27.8 million and an operating profit of EUR
1.5 million in 2007. The company designs, manufactures and provides support
for sophisticated and highly reliable electrical and electronic devices and
systems for harsh environmental conditions in the aerospace, defence and
energy sectors.
Contact for media representatives: Contact for investors and analysts:
Steffen Leuthold Michael Vér
Corporate Communications Investor Relations
Phone: +49 (0) 421 – 2020-620 Phone: +49 (0) 421 – 2020-727
Fax: +49 (0) 421 – 2020-700 Fax: +49 (0) 421 – 2020-613
Email: leuthold@ohb-system.de Email: ver@ohb-technology.de
www.ohb-system.de www.ohb-technology.de
28.07.2008 Financial News transmitted by DGAP
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Language: English
Issuer: OHB Technology AG
Karl-Ferdinand-Braun-Str. 8
28359 Bremen
Deutschland
Phone: +49 (0)421 2020 8
Fax: +49 (0)421 2020 613
E-mail: ir@ohb-technology.de
Internet: www.ohb-technology.de
ISIN: DE0005936124
WKN: 593612
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart
End of News DGAP News-Service
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