Kardex AG: Sale of AFT division closed
Zurich (ots)
Kardex AG is selling its AFT division effective February 21, 2007 to the Munich-based Certina Group since agreement could not be reached with the original buyer (see media information dated December 22, 2006) on the terms of the closing. The contract with the Certina Group was signed and closed yesterday. As previously published, the anticipated extraordinary costs for the restructuring and hive-off of AFT amount to around EUR 25 million. Appropriate provisions are to be made in the 2006 financial statements.
German Certina Holding AG has a long-term investment focus. The integration of AFT is part of the holding company's strategy to expand its operations in the plant engineering sector.
The hive-off of the AFT division allows the Board of Directors and Management to drive forward the Kardex Group's strategic focus on its internationally successful core activities with logistics products and to return the Kardex Group to profitable growth with its KRM and Stow divisions.
Kardex Remstar International Group
Australia, Austria, Belgium, China, Cyprus, Czech Republic, Finland, France, Germany, Great Britain, Greece, Hungary, India, Ireland, Italy, Mexico, Netherlands, Norway, Poland, Portugal, Singapore, Slovakia, South Korea, Spain, Sweden, Switzerland, Taiwan, USA.
Calendar: April 12, 2007: Annual Media Conference May 24, 2007: Annual General Meeting
Contact:
Irene Müller, Assistant to the CEO
Tel.: +41/44/386'44'15
Fax: +41/44/386'44'17
E-Mail: irene.mueller@kri-group.com
Parent company
Kardex AG
Thurgauerstrasse 40
CH-8050 Zurich,
Tel.: +41/44/386'44'10
Fax: +41/44/386'44'18
E-Mail: info@kri-group.com
Internet: http://www.kri-group.com