Ad-hoc | 15 February 2017 16:35
mutares AG / Key word(s): Private Equity/Disposal
15-Feb-2017 / 16:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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mutares has sold EUPEC Germany, a non-operating company that owns a
concrete weight coating plant for gas pipelines in Mukran, Germany, for EUR
19.5m to the Malaysian Wasco Group which will utilize the plant for the
"Nord Stream 2" project. Through earn-out payments until 2019, the purchase
price can rise up to EUR 32m in total.
The operating business of EUPEC France, which generated revenues of EUR 72m
and operating earnings of EUR 13m in 2015 by coating oil and gas pipelines,
remains a part of the mutares Group. EUPEC France was hit by the downturn
of the oil and gas market in 2016, but expects for 2017 a stabilization in
a slightly growing market.
For further information, please contact:
mutares AG
Soh-Pih Mariette Nikolai
Investor Relations & Corporate Communications
Tel. +49 89 9292776-0
Fax +49 89 9292776-22
ir@mutares.de
www.mutares.de
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Language: English
Company: mutares AG
Arnulfstr.19
80335 Munich
Germany
Phone: +49 (0)89-9292 776-0
Fax: +49 (0)89-9292 776-22
E-mail: ir@mutares.de
Internet: www.mutares.de
ISIN: DE000A0SMSH2
WKN: A0SMSH
Listed: Regulated Unofficial Market in Berlin, Stuttgart,
Tradegate Exchange; Open Market (Entry Standard) in
Frankfurt
End of Announcement DGAP News Service