Balda AG / Key word(s): Disposal
The new owner intends to retain all employees of Albea
With approximately Euro 3.5 million the price realised is in line with
Balda receives an additional approximately Euro 8.0 million from the
redemption of intercompany loans by the vendee
With the sale another major part of the strategic refocusing announced in
2006 has successfully been closed
Bad Oeynhausen, 22 December 2006 – Today Balda has sold Albea
Kunststofftechnik GmbH with production facilities in Seelbach
(Baden-Württemberg) as announced. Vendee is a group of investors with a
strong entrepreneurial focus and a long term view advised by INKAP
Industriekapital GmbH. ‘We at Balda are especially pleased that all 290
employees retain their jobs according to plan’, said Balda CEO Joachim Gut
in Bad Oeynhausen on Friday. The existing contracts with a temporary
employment company will also be taken over; currently 100 temporaries are
working at the Seelbach plant.
INKAP intends to leverage and to further strengthen Albea’s excellent
market position and in particular its European presence. Albea is a
manufacturer of premium plastic components for a range of industries,
including the automotive sector. With approximately Euro 3.5 million the
price realised by Balda is in line with the expectations. In addition the
vendee pays back to Balda intercompany loans totalling approximately Euro
8.0 million. ‘With the sale we have successfully closed another major part
of the strategic refocusing announced in 2006’, Gut added.
Balda AG, Cersten Hellmich and Kathrin Wiederrich (Investor Relations),
Telephone: +49 (0) 5734 922 – 2706 / 2751, Facsimile: +49 (0) 5734 922 –
2691, e-mail: email@example.com, firstname.lastname@example.org, Internet:
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Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service