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EANS-Adhoc: ElringKlinger AG and Freudenberg Group sign agreement for sale of cylinder-head and exhaust system gasket business to ElringKlinger

  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.
Company Information
30.09.2010
Dettingen/Erms, Weinheim (Germany), September 30, 2010  +++  The 
Freudenberg Group, Weinheim, has agreed to sell its business within 
the area of static metal gaskets to automotive supplier ElringKlinger
AG, Dettingen/Erms. The Static Metal Gaskets division operated by the
Freudenberg Group includes business activities centered around 
cylinder-head and exhaust system gaskets. The purchase agreement was 
signed this morning by both parties to the contract.
Alongside the Freudenberg subsidiary Burgmann Automotive GmbH, 
Gelting, Germany, ElringKlinger will also take over a part of 
Freudenberg-Meillor S.A.S., Nantiat, France, as well as Oigra Meillor
s.r.l., Turin, Italy.
Following the official authorization by the antitrust authorities and
the approval of staff representatives at the Nantiat site in France 
as regards the completion of the planned takeover, the purchase 
agreement was released for notarization. The planned acquisition had 
been announced on July 12, 2010. Both parties have agreed not to 
disclose specific details of the purchase price. It will be within a 
range of 0.6 to 0.8 times expected revenue for 2011.
The transaction is to be closed at the end of the year, as a result 
of which it will come into legal effect as of January 1, 2011, which 
will also be the date of inclusion in the consolidated group of 
ElringKlinger.
In acquiring the static-metal-gaskets business from the Freudenberg 
Group, ElringKlinger intends to expand its international position in 
the area of cylinder-head gaskets and highly heat-resistant specialty
gaskets for engines and exhaust systems. In the area of specialty 
gaskets, the overall portfolio will be extended to include several 
additional products, e.g. within the turbocharger and exhaust 
recirculation segment. At the same time, the company's market 
position will be strengthened significantly in France and Italy in 
particular. In fiscal 2011 as a whole, the acquisition is expected to
contribute around EUR 49 million to Group sales. ElringKlinger 
anticipates that the operating margin can be brought closer to that 
of its own Group level by 2012.
The ElringKlinger Group's cylinder-head and specialty gaskets 
divisions generated revenue of EUR 150 million as part of original 
equipment sales to automobile manufacturers in 2009, corresponding to
more than one quarter of total Group revenue.
end of announcement                               euro adhoc

Further inquiry note:

For further information, please contact:

ElringKlinger AG Investor Relations / PR
Max-Eyth-Straße 2, 72581 Dettingen/Erms
Phone: +49 (0)7123-724-137
Fax: +49 (0)7123-724-641
E-mail: stephan.haas@elringklinger.de

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

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