Corporate | 16 January 2012 12:22

Funkwerk AG successfully completes sale of its Enterprise Communication business unit

Funkwerk AG / Key word(s): Disposal

16.01.2012 / 12:22

Press release

Funkwerk AG successfully completes sale of its
Enterprise Communication business unit

Another milestone in the realignment achieved

Kölleda, January 16, 2012 – Funkwerk AG has concluded the sale of Funkwerk Enterprise Communications GmbH, hitherto a group subsidiary. The entire Enterprise Communication (EC) segment has been sold to Teldat, a Spanish group based in Madrid. As expected, liquid funds totaling some EUR 8.5 million will accrue to Funkwerk AG from the transaction. In other words, together with the sale of Alpha Meß-Steuer-Regeltechnik GmbH in November 2011, Funkwerk has booked a cash inflow of around EUR 18 million, appreciably stabilizing the company’s financial base.

The sales contract, which as reported was signed on October 18, 2011, was completed with Teldat S.A. of Spain and duly notarized on January 13, 2012, after fulfillment of all conditions precedent. The transaction covers Funkwerk Enterprise Communications GmbH in Nuremberg and its subsidiaries Funkwerk IP-Appliances GmbH (Nuremberg), Funkwerk Aphona GmbH (Vienna, Austria), Funkwerk Enterprise Communications France S.A.S. (Gradignan Cedex, France) and Funkwerk Enterprise Communications Italia S.R.L. (Milan, Italy), which thus are no longer part of the Funkwerk group and are deconsolidated.

With the successful closure, Funkwerk AG has achieved another milestone in the realignment of the group and its refocusing on its core areas. Since 2011 Funkwerk has concentrated exclusively on growth areas with strong margins and has spun off peripheral activities in order to bring company resources to bear more meaningfully and likewise optimize the organization’s structure.

As reported, Funkwerk’s annual financial statements for 2011 will noticeably reflect the realignment measures. Figures for the 2011 business year will be released on March 29, 2012.

For more details, please contact:
Funkwerk AG
Im Funkwerk 5
99625 Kölleda
Germany
Jörg Reichenbach
Investor Relations
Tel.: +49- 36-35-600-346
Fax: +49-36-35-600-507
reichenbach@funkwerk.com

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Language:	English
Company:	Funkwerk AG
	Im Funkwerk 5
	99625 Kölleda
	Germany
Phone:	+49 (0)3635 600 0
Fax:	+49 (0)3635 600 507
E-mail:	info@funkwerk.com
Internet:	www.funkwerk.com
ISIN:	DE0005753149
WKN:	575314
Listed:	Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of News DGAP News-Service

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