Airopack Technology Group AG

EQS-Adhoc: Airopack Technology Group takes action to end joint venture with Resilux


EQS Group-Ad-hoc: Airopack Technology Group AG / Key word(s): Miscellaneous
Airopack Technology Group takes action to end joint venture with Resilux

29.03.2016 / 08:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Airopack Technology Group takes action to end joint venture with Resilux

- ATG, through its new strategic partnership, remains committed to unlocking the
growth potential of Airopack through further investments

- Further steps in procedure to end joint venture with Resilux

- Ending the Airolux joint venture will allow ATG to reach its next level of
growth by increasing production and enhancing its organizational footprint

- ATG looks forward to expanding the use of its revolutionary and worldwide
patented Airopack technology to serve leading fast-moving consumer goods
companies

Baar, 29th March 2016- Airopack Technology Group AG ("ATG") today announces that
it has taken further steps to terminate its Airolux AG ("Airolux") joint venture
with Resilux NV ("Resilux") and regain the exclusive use of ATG's Airopack
technology. These steps are necessary since parties did not reach an agreement
following the issuance of a Deadlock Notice as announced on 7th January 2016.
ATG is the inventor and exclusive owner of the globally patented Airopack
technology, which offers a revolutionary all-plastic pressurized dispenser used
by leading global brands.

ATG will terminate its joint venture with Resilux in order to unlock the unique
growth potential of innovative Airopack technology. Under the terms of the joint
venture agreement, ATG has offered to acquire Resilux's 50% stake in Airolux for
a cash consideration of EUR18.9 million. Resilux's outstanding shareholder loans
and financial debts to Airolux of around EUR37million will have to be repaid as
required by the relevant agreements. Resilux will not be entitled to any
long-term supply agreement with ATG for PET preforms and container parts, which
ATG would look to source from alternative suppliers at market competitive rates.

Resilux has until 25th April 2016 to either unconditionally commit to selling
its shares in Airolux to ATG, or to acquire ATG's shares in Airolux under the
same terms as proposed by ATG. In the event that Resilux would opt to acquire
ATG's shares in Airolux, a 100% Resilux-owned Airolux would not have access to
ATG's patented Airopack technology. ATG has terminated the license agreement
with Airolux and would independently commercialize the product to continue
meeting robust customer demand.

ATG currently has 158 global patents and serves some of the world's largest
fast-moving consumer goods companies. Termination of the joint venture will
allow ATG to reach the next level of growth by expanding production of its
technology, improving time to market, reducing costs, and enhancing its
organizational footprint. In conjunction, ATG has developed a new website
(www.airopack.com)to showcase its unique patented technology and meet strongly
increased customer inquiries.

ATG remains committed to the process with its new strategic partner, funds
managed by affiliates of Apollo Global Management, LLC (NYSE:APO) (together with
its consolidated subsidiaries, "Apollo"), and its legal and financial advisors.

Further announcements will be made if and when appropriate.

About Airopack Technology Group (ATG)

Airopack Technology Group AG is a leading developer and supplier of mechanical
and pressure-controlled dispensing packaging technologies and systems for
manufacturers and suppliers of cosmetics, body care, pharmaceutical and food
products. The revolutionary and worldwide and solely by ATG patented Airopack(R)
technology offers a safe, all-plastic pressurized dispenser that is
environmentally and planet friendly

Airopack Technology Group operates under 100% own control a Full-Service Filling
operation in Heist op ten Berg Belgium, an Global Research and Development Team
and the Airopack Global Management and Customer Service Organisation in
Waalwijk, The Netherlands .

Airopack Technology Group operates a Airopack Ready to Fill manufacturing
facility in Glarus Nord, Switzerland with Resilux Schweiz AG. Airopack
Technology Group plans to start and operate two new Airopack Ready to Fill
Manufacturing sites, being in North America and on a second location in Europe,
in the course of 2016. With deliveries to the world's largest and leading
consumer brands, Airopack Technology Group reached a key milestone in 2015 with
respect to commercial market entry.

For more information:
Investors:       Media:
Airopack Technology Group AG     Hill + Knowlton Strategies
Quint Kelders, CEO / Frans van der Vorst, CFO   Frans van der Grint
Zugerstrasse 76b      T: +31 (0) 20 404 4707 / M: + 31 (0) 6 29044053
CH-6340 Baar       E-Mail: frans.vandergrint@hkstrategies.com
TF: +31 416 300 800
E-Mail: quint.kelders@airopackgroup.com
frans.vandervorst@airopackgroup.com
www.airopackgroup.com

 
The shares of the company are listed on the Swiss Reporting Standard of the SIX
Swiss Exchange since 2010. (Ticker: AIRN / ISIN: CH0242606942).

 
www.airopackgroup.com
 


End of ad hoc announcement

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29.03.2016 News transmitted by EQS Schweiz AG. www.eqs.com - news archive:
http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.
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Language: English

Company:  Airopack Technology Group AG

          Zugerstrasse 76b

          6340  Baar

          Switzerland

Phone:    +41 417663500

Fax:      +41 417663509

E-mail:frans.vandervorst@airopackgroup.com

Internet: www.airopackgroup.com

ISIN:     CH0242606942

Listed:   Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart; Open Market in Frankfurt ; SIX


End of News EQS Group News Service
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