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02.07.2007 – 17:49

Salzgitter AG

SALZGITTER AG: Negotiations for the takeover of the precision tube activities of Vallourec SA successfully concluded

Salzgitter (euro adhoc) -

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
merger, acquisition and takeover
Salzgitter AG and Vallourec SA, Paris, have
signed the final agreements on the takeover of Vallourec Précision 
Etirage (VPE), France. All preconditions having been fulfilled, 
especially the approval by the EU antitrust authority. The transfer 
of the shares of the business is to take place on July 2, 2007. As 
from this date, the company will be included in the financial 
statements of Salzgitter AG.
The precision tubes business of VPE, with five plants in France, 
ideally supplements the current activities of the Salzgitter Group in
this tubes segment which consist of the four plants of MHP Mannesmann
Präzisrohr (MHP) in Germany and one of Mannesmann Robur (ROB) in the 
Netherlands. To secure the extensive independence of VPE, MHP and ROB
in respect of the supply of seamless tubes as a primary material, 
part of the transaction also includes the takeover of a mill for 
hot-rolled tubes for further processing in Zeithain (Saxony).
The combination of the companies will be named Salzgitter Mannesmann 
Precision GmbH and form the European market leader for seamless and 
welded precision tubes with annual sales of around EUR 500 million 
and a workforce of 2,700 employees. The most important customers 
include the automotive industry and its suppliers, the mechanical 
engineering and the energy producing sectors. The precision tube is a
growth product for industrial applications where great forces and 
high pressures, temperatures or rotational speeds are to be absorbed 
while construction remains light weight.
The new group of companies enjoys an outstanding market position, 
especially in Germany and France, and is set to significantly 
strengthen its future potential by leveraging existing industrial and
product-related synergies.
end of announcement                               euro adhoc 02.07.2007 17:47:53

Further inquiry note:

Bernhard Kleinermann
Tel.: +49 (0) 5341-21-3783

Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: MDAX, CDAX, HDAX, Midcap Market Index, Classic All Share,
Prime All Share
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Börse Hannover / official dealing

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