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Mergers - Acquisitions - Takeovers / ElringKlinger AG and SEVEX family owners sign deal for takeover of Swiss heat shield specialist SEVEX Group

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Company Information
31.03.2008
Dettingen/Erms (Germany)/Sevelen (Switzerland), March 31, 2008  +++ 
ElringKlinger AG acquires SEVEX AG, Sevelen, a Swiss manufacturer of 
thermal and acoustic shielding systems. The agreement was finalized 
and signed today by both parties. In addition to acquiring the Swiss 
parent company, ElringKlinger takes over the US-based subsidiary 
SEVEX North America, Inc., Buford, as well as SEVEX Asia, 
headquartered in Suzhou, China.
Both parties to the contract have agreed not to disclose details of 
the purchase price. The closing of the takeover transaction is still 
subject to the usual provisos, in particular the receipt of official 
approval by the antitrust authorities. ElringKlinger expects the 
closing of the transaction by end of April.
ElringKlinger expects the SEVEX Group to achieve sales revenue of 
around CHF 95 million for 2008 (EUR 59 million). The purchase price 
is within a range of 7- to 8- times EBIT. ElringKlinger expects the 
transaction to be earnings accretive in 2008.
Complementary technology Increasingly, automobile manufacturers are 
turning to smaller, lighter and, in many cases, turbocharged engines 
with complex exhaust-cleaning technology, the objective being to 
scale down fuel consumption and reduce emission levels. Given the 
technologically demanding, high-temperature environment associated 
with such solutions, thermal shielding systems are becoming 
increasingly important to the overall design. Whereas ElringKlinger 
has established a strong position within the area of engine shielding
components, SEVEX is recognized as one of the leading suppliers of 
underbody heat shield systems and solutions deployed in the vehicle 
exhaust tract. Thus, the SEVEX Group product range will complement 
ElringKlinger's existing product portfolio in an ideal way.
ElringKlinger advances to become second largest supplier worldwide In
2007, ElringKlinger Group generated sales of approximately EUR 93 
(72) million in its Shielding Technology division. The acquisition of
SEVEX will propel the ElringKlinger Group to second place in the 
international supplier ranking for engine, underbody and exhaust 
tract shielding systems.
end of announcement                               euro adhoc

Further inquiry note:

Stephan Haas
Investor Relations Manager
Telefon: +49 (0)7123 724-137
E-Mail: stephan.haas@elringklinger.de

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

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