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31.07.2007 – 11:36

ElringKlinger AG

ElringKlinger increases holding in ElringKlinger Kunststofftechnik GmbH

--------------------------------------------------------------------------------   ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for   the content of this announcement. --------------------------------------------------------------------------------

merger, acquisition and takeover

Dettingen/Erms (euro adhoc) - Dettingen/Erms (Germany), July 31, 2007 +++ Automotive supplier ElringKlinger AG has acquired a further 7.5% interest in PTFE specialist ElringKlinger Kunststofftechnik GmbH, Bietigheim-Bissingen, from the company's co-partners and thus now has an overall holding of 74.5% in the subsidiary.

In fiscal 2006, ElringKlinger Kunststofftechnik GmbH, an entity included fully in the consolidated group, generated sales revenues amounting to EUR 58.8 million and earnings before taxes of EUR 11.4 million. The current 2007 fiscal year is expected to produce additional growth in both sales revenues and earnings.

The transaction was signed by both parties on Monday. Under the terms of the agreement, the purchase price is to remain confidential. The EBIT (earnings before interest and taxes) multiple paid by ElringKlinger is within the upper single-digit range. Minority interests in consolidated net income will decline due to the aforementioned acquisition, as a result of which consolidated net income after minority interests, targeted for 2007 will increase further by another approx. EUR 0.2 million proportionately as off August 1, 2007.

At its operating sites in Bietigheim-Bissingen and Heidenheim, Germany, ElringKlinger Kunststofftechnik GmbH develops and markets products and components made of high-performance PTFE (polytetrafluoroethylene), which is particularly resistant to heat and chemicals. Alongside the automobile sector, the company's principal customers are industrial manufacturers - particularly within the field of mechanical engineering and packaging - and, increasingly, companies operating in the medical engineering and biotech industries.

At present, ElringKlinger Kunststofftechnik is implementing a large-scale expansion project at its Bietigheim-Bissingen plant, investing in process technology required for the production ramp-up of its new material Moldflon®. Moldflon®, a pioneering PTFE material suitable for injection-molding, can be used to create entirely new component geometries for a broad range of industrial applications.

end of announcement                                                 euro adhoc 31.07.2007 11:34:55

ots Originaltext: ElringKlinger AG
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Further inquiry note:
Kathrin Müller
Investor Relations
Telefon: +49 (0)7123 724-631

Branche: Automotive Equipment
ISIN:      DE0007856023
WKN:        785602
Index:    SDAX, CDAX, Classic All Share, Prime All Share
Börsen:  Börse Frankfurt / official dealing/prime standard
              Börse Berlin / free trade
              Börse Düsseldorf / free trade
              Börse München / free trade
              Börse Stuttgart / official dealing

Weitere Storys: ElringKlinger AG
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