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SMT Scharf AG

SMT Scharf AG acquires South African supplier of mining equipment Sareco Engineering CC

Hamm (euro adhoc) -

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
merger, acquisition and takeover
Hamm, June 20, 2008 - SMT Scharf AG (German
Securities Code (WKN) 575198, ISIN DE0005751986), technology and 
world market leader for rail-bound railway systems for the mining 
sector, has acquired Sareco Engineering CC, a South African supplier 
of mining equipment. Sareco is market leader for mining chairlifts in
southern Africa. The company recorded revenues of more than 20 
million South African Rand in fiscal year 2007/08 and enjoyed 
significantly positive earnings. Sareco´s main customers are South 
African platinum and gold mines. The previous owners of Sareco, 
Raymond Browning and John Gibson, will stay with the company as 
managing director and technical consultant, respectively. The 
acquisition agreement signed on June 18, 2008 applies retroactively 
as of March 1, 2008 and is subject to a change of legal form for the 
South African company that will be implemented as part of the 
transfer. "This acquisition bolsters our position with our South 
African customers. For them, chairlifts are a transport technology 
which continues to increase in importance," commented Dr. Friedrich 
Trautwein, SMT Scharf AG's CEO. "At the same time, it gives us the 
opportunity to bring Sareco´s proven technology to other markets. We 
expect this to make a visible contribution to SMT Scharf Group´s 
further international growth," he continued. In view of the 
acquisition, SMT Scharf AG's Managing Board confirmed its forecast of
generating further growth in revenues and earnings in 2008 and the 
coming years. However it is still not possible to fully gauge the 
impact that further developments in the mining sector in Germany's 
Saarland region could have on SMT Scharf.
Company profile
The SMT Scharf Group develops, builds and maintains rail-bound 
railway systems for mining and use in tunnels. The trains are used 
all over the world, primarily in hard coal mines, gold mines and in 
underground mining for platinum, diamonds, copper and nickel. They 
are used to transport material and personnel with working loads of up
to 35t. Rail-bound trains are the only means of transport that can be
used underground on branching lines to cope with inclines of more 
than 13 degrees. The SMT Scharf Group has subsidiaries in Germany, 
Poland, South Africa, China and Russia, as well as agencies around 
the world. The railways developed by SMT Scharf are characterized, 
above all, by high-performance engines, high working loads, high 
speed and low operating and maintenance costs. SMT Scharf records 
more than 70% of its revenues in high-growth foreign markets such as 
Russia, China and South Africa. The replacement parts and repairs 
business constitutes around 50% of revenues. The advances in 
exploitation of resources make underground conditions increasingly 
difficult which in turn requires more high technology transport 
solutions in mining. The total market for underground transport 
technology comprises around EUR 5 billion to EUR 7 billion per year 
according to company estimates. SMT Scharf AG has been listed in the 
Prime Standard (regulated market) of the Frankfurt Stock Exchange 
since April 11, 2007.
end of announcement                               euro adhoc

Further inquiry note:

Contact

Investor Relations
cometis AG
Henryk Deter
Tel.: +49(0)611 - 205855-13
Fax: +49(0)611 - 205855-66
e-mail: deter@cometis.de

Branche: Machine Manufacturing
ISIN: DE0005751986
WKN: 575198
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse München / free trade

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