EANS-News: Balda AG
Balda AG continues realignment and sells MobileCom in China
31.10.2011 – 14:05
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Strategic management decisions Subtitle: The Group disposes of the business with systems and components for mobile phones in China Bad Oeynhausen (euro adhoc) - Bad Oeynhausen, 31 October 2011 - The Frankfurt SDax listed company Balda AG has carried out its repeatedly advertised intention (most recently in the ad-hoc announcement of 4 August 2011) to dispose of its MobileCom segment and has sold it by way of a management buy out (MBO). The segment had already been reported in the 2011 half-year report under "discontinued operations". The parties have today with the approval of the Balda Supervisory Board closed the contracts of sale. With this Balda has disposed of its activities in the mobile phone business in China. The buyer is Ample Gain Enterprises Limited (AGE). The Bad Oeynhausen Group is disposing of its companies in Beijing (BSBJ and BTO Technologies) and Suzhou (BSSU) including the rights to properties, buildings and machine park. It is expected that the closing will take place in November 2011. The parties have agreed not to disclose the details of the transaction such as the conditions and the purchase price. The sale ends Balda's of late loss-making involvement due to the challenging market conditions in the MobileCom segment in China. The Group is therefore freeing resources to focus on higher-margin business divisions such as the Medical division. Company profile of Balda AG The Balda Group develops and produces complete plastic assemblies, electronic products and products for the medical technology industry. Balda's customers are leading companies in the pharmaceutical, medical technology, consumer electronics electronic communications and mobile phone markets. The Group is internationally positioned with production sites in Germany and Malaysia. A subsidiary in the USA operates in product design and development. Within the scope of its shareholding in a leading touchscreen manufacturer in China, Balda is participating in the dynamic development of the touchscreen displays market. This Corporate News announcement contains forward-looking statements, which are based on the current expectations of Balda´s management. They therefore contain a range of risks and uncertainties because they relate to future events and depend on circumstances that will occur in the future, such as, for example, developments in the mobile communications industry, changes in technology and the ability to timely and successfully develop new products and various other factors. Balda will neither revise these forward-looking statements nor correct them in the event of any unexpected development, unless there is a legal obligation to do so. This Corporate News announcement represents neither an offer to buy shares nor an invitation to submit an offer to buy shares in the United States or any other country. The shares in Balda AG (the "shares") may not be offered or sold in the United States or to or for the account of U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, in its current version (the "Securities Act")), unless they are registered or are exempt from registration under the Securities Act. The shares have not been and will not be registered under the Securities Act. Further inquiry note: Clas Röhl Tel.: +49 (0) 5734 922-2728 croehl@balda.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: Balda AG Bergkirchener Str. 228 D-32549 Bad Oeynhausen phone: +49 (0) 5734 9 22-0 FAX: +49 (0) 5734 922-2747 mail: info@balda.de WWW: http://www.balda.de sector: Semiconductors & active components ISIN: DE0005215107 indexes: CDAX, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English