Ad-hoc | 26 June 2008 09:06
A.S. Création Tapeten AG / Joint Venture
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 Managing Board of A.S. Création Tapeten AG, Europe’s leading wallpaper
manufacturer, and the management of OOO Kof Palitra, Zheleznodorozhny
(Greater Moscow)/Russia, the leading wallpaper manufacturer in Russia, have
decided to establish a joint venture. The 50:50 joint venture will probably
be headquartered near Moscow and produce higher-quality wallpapers for
Eastern Europe and especially for the Russian market. Financing
requirements for the joint venture are expected to amount to between EUR 25
million and 30 million.
Production is scheduled to start in 2010, with a production volume of
approx. six million rolls of wallpaper defined for the medium term. It is
planned to sell these wallpapers under the 'A.S. Création' brand name.
Russia is the world’s largest wallpaper market and an important output
market for A.S. Création. The installation of local production capacities
and the related cooperation with Russia’s leading wallpaper manufacturer
will allow A.S. Création to improve its market position in this important
market.
Gummersbach, June 26, 2008
A.S. Création Tapeten AG
The Managing Board
Inquiries:
A.S. Création Tapeten AG
Maik Krämer, CFO,
Südstr. 47, D-51645 Gummersbach
phone + 49 – (0)22 61/542-387, fax + 49 – (0)22 61/542-304, e-mail:
m.kraemer@as-creation.de
26.06.2008 Financial News transmitted by DGAP
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Language: English
Issuer: A.S. Création Tapeten AG
Südstraße 47
51645 Gummersbach
Deutschland
Phone: +49 (0)22 615 42-0
Fax: +49 (0)22 6154 2-3 04
E-mail: investor@as-creation.de
Internet: http://www.as-creation.de
ISIN: DE0005079909
WKN: 507990
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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