DGAP-News: Balda AG: Balda AG announces:
11.02.2008
Balda AG / Key word(s): Miscellaneous
11.02.2008 07:30
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Balda AG announces:
– Balda AG has complied with all of the obligations established by the
sale of the European Infocom-business and will keep on doing so
– Balda AG has made the contractually agreed payments to KS Plastic
Solutions group and has, by doing so, secured salaries and wages
– Balda AG is shocked, that KS Plastic Solutions group denies its
employees salaries and wages without any obvious reason
– Balda AG has no evidence at all, that parts of KS Plastic Solutions
group are under any form of financial distress
On February 9, 2008 an article appeared in Neue Westfälische Zeitung under
the header ‘Balda zahlt die Löhne nicht’ (‘Balda does not pay the wages’);
this article refers to speculations with respect to the European Infocom
business acquired by KS Plastic Solutions GmbH. The article has been taken
up by several media. We would like to take the opportunity to point out
that Balda AG has complied with all its obligations from the sale and will
keep on doing so in future.
‘We do not know what is happening at KS Plastic Solutions group, but we are
shocked that they denied their employees salaries and wages. We have no
evidence at all, that parts of KS Plastic Solutions group are under any
form of financial distress. Au contraire, to our knowledge they have
sufficient liquidity to pay their salaries and wages; particularly with
regard to the funds we have transferred’, says Joachim Gut, the Chairman of
the Managing Board of Balda AG. ‘We have done everything possible to
provide the personnel with a positive outlook for the future. We wanted to
take swift action as uncertainty is bad for the employees and is bad for
business.’ Balda AG has made the contractual payments to KS Plastic
Solutions group on time and has, by doing so, secured salaries and wages.
* * *
Company profile Balda AG
The internationally operating Balda Group develops and produces highly
integrated devices comprising plastic, metal and electronic components as
well as touch sensors. Among the customers of the SDAX listed company are
international brand-names from the mobile telephony industry, medical
technology and various related markets.
The integration of plastic and touch screen technologies creates completely
new customer benefits. Only Balda currently offers both technologies from
one source on a global scale. The group has a strong position in the
important growth markets China and India and owns four production
facilities in the region. Plants in Brazil and in Malaysia, as well as the
facility in Germany for Balda Medical, underline the global competitiveness
of the group of companies.
* * *
If you have any questions please contact: Balda AG, Clas Röhl, Phone: +49
5734 922 2728, Fax: +49 5734 922 2691, Mail: croehl@balda.de, Internet:
www.balda.de
* * *
This press announcement includes ‘forward-looking statements’ which are
based on the current expectations of the management of Balda. They are
subject to risks and uncertainty because they relate to events and depend
on circumstances that will occur in the future, such as, for example,
developments in the mobile communications industry, changes in technology
and the ability to timely and successfully develop new products and various
other factors. Balda does not undertake any obligation to update publicly
or revise forward-looking statements except to the extent legally required.
This press announcement is not an offer of securities for sale or a
solicitation of an offer to purchase securities in the United States or
elsewhere. The shares in Balda AG (the ‘Shares’) may not be offered or sold
in the United States or to or for the account or benefit of U.S. persons
(as such term is defined in Regulation S under the U.S. Securities Act of
1933, as amended (the ‘Securities Act’)) unless registered under the
Securities Act or pursuant to an exemption from such registration. The
Shares have not been and will not be registered under the Securities Act.
11.02.2008 Dissemination of a Corporate News, transmitted by DGAP –
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Germany
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
E-mail: info@Balda.de
Internet: www.balda.de
ISIN: DE0005215107
WKN: 521510
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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