EANS-Adhoc: ElringKlinger AG sells Ludwigsburg industrial park
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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31.08.2011
ElringKlinger AG sells Ludwigsburg industrial park
Dettingen/Erms (Germany), August 31, 2011 +++ ElringKlinger AG sold
the Ludwigsburg industrial park (Gewerbepark Ludwigsburg). Contracts
have been signed yesterday. The Group generates a cash inflow of EUR
34 million from the sale.
As the purchase price exceeds the industrial park´s book value, the
transaction results in a one-time positive earnings effect on the
operating result of around EUR 22 million for the 2011 business year.
Proceeds from the sale of the industrial park - not a part of the
ElringKlinger Group´s core business - will be deployed to finance the
Group´s continued growth around its core expertise in CO2 reduction and
exhaust-emissions technology, and to support the further expansion of
its e-mobility division. The buyer does not wish to be named.
Focus on CO2 reduction and new drive technologies
The industrial parks stem from the legacy property portfolio of the
former parent company ZWL Grundbesitz- und Beteiligungsgesellschaft
Holding.
CEO Dr. Stefan Wolf explains the objectives of the transaction: "The
proceeds from the sale will be used to finance investment in our core
business with clear priorities on reducing fuel consumption, exhaust
abatement systems and new drive technologies."
Following the sale of the Ludwigsburg site, the industrial parks
segment of the ElringKlinger Group still holds its largest complex in
terms of area, located at Kecskemét in Hungary, and a further site in
Idstein near Frankfurt am Main.
Further inquiry note:
ElringKlinger AG
Investor Relations / Corporate Communications
Stephan Haas
Max-Eyth-Straße 2
72581 Dettingen
Fon: +49 (0)7123-724-137
E-Mail:stephan.haas@elringklinger.com
end of announcement euro adhoc
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issuer: ElringKlinger AG
Max-Eyth-Straße 2
D-72581 Dettingen/Erms
phone: +49(0)7123 724-0
FAX: +49(0)7123-7249000
mail: info@elringklinger.com
WWW: http://www.elringklinger.com
sector: Automotive Equipment
ISIN: DE0007856023
indexes: MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Düsseldorf, München, regulated dealing: Stuttgart
language: English