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Abonner adval tech Holding AG

adval tech Holding AG

Acquisition of Foboha GmbH Formenbau in Germany: Leading moldmaker joins the Adval Tech Group

Niederwangen (ots)

Stock market-listed Adval Tech Holding Ltd.
will acquire Foboha GmbH Formenbau, the leading German moldmaker in
the plastic injection molding sector, as of January 1, 2003. Adval
Tech intends Foboha to operate as an independent company with its own
market interface within the Injection Molding Division.
The acquisition of Foboha corresponds to the Adval Tech Group's
strategic objectives: it reinforces its position on the market in the
injection molding sector and adds interesting technological
capabilities in the field of multi-component technology. Foboha is
based in Baden-Württemberg and is a world leader in the development,
design and manufacture of injection molds for the plastics industry.
In common with its future affiliate AWM, Foboha is able in principle
- by virtue of its technical and organizational know-how - to cover
all application segments in injection molding technology. The
dominant spheres of activity at present are consumer goods packaging,
medical technology, telecommunications and electronic equipment. With
the addition of Foboha the division will therefore be less dependent
on the markets for optical discs (ODs) and OD packaging.
Foboha occupies a particularly strong position in two-component
and multi-component technology. This is where different plastics with
differing properties are combined with each other. Foboha books more
than 60 percent of its sales (expected turnover for 2002: almost 43
million Swiss francs) on the export market. Foboha has a total
workforce of 164 employees.
With the sale of Foboha to the Adval Tech Group, the founder and
owner of the company, Werner Bodmer, has made a far-sighted
succession arrangement which will enable the company to grow and
continue its technological development while remaining largely
independent. The parties have agreed not to disclose the purchase
price.
The companies in the adval tech Group operate in the technology
sectors of stamping and forming (metals) and injection molding
(plastics). They manufacture production equipment, i.e. molds, tools
and entire production lines for manufacturing precision components
and products, as well as manufacturing such components and products
in large volumes themselves. The Injection Molding Division includes
the AWM companies in Muri, Merenschwand, Hong Kong and the USA, as
well as Foboha GmbH Formenbau in Haslach, Germany, as of January
2003.
You will find further information on Foboha at www.foboha.de.

Contact:

Jean-Claude Philipona
CEO
Phone +41/31/980'82'75
Fax +41/31/980'82'60
mailto:jc.philipona@advaltech.com