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Kardex Systems AG

Kardex Remstar International Group: Kardex AG acquires US competitor Kardex Systems Inc.

Zurich (ots)

Kardex AG has signed an asset purchase agreement to
acquire the assets of US competitor Kardex Systems Inc., which had
previously filed for Chapter 11 bankruptcy with a US court. Kardex
Systems Inc. posted sales of approximately USD 21 million in the 2007
financial year, and has a staff headcount of around 100.
Under the transaction, Kardex AG is acquiring the Kardex brand in
the USA, a production site in Lewistown, Pennsylvania (USA), and a
sales organization with a broad base in the North American market.
This will enable Kardex to substantially expand its US distribution
company Remstar Inc. In addition, the merger of the two US companies
opens up sustainable synergy potential for Kardex and reinforces
Kardex's market position in the USA.
In integrating its own operating and production site within the US
dollar zone and creating a focused presence under the global Kardex
brand, Kardex Group is increasing the pace of growth of the Kardex
Division over the long term and further expanding Kardex's strong
position in the international market for dynamic storage and
retrieval systems.
Calendar of events
March 10, 2009  Media and analysts' conference
   April 21, 2009  Annual General Meeting
Kardex Remstar International Group
Australia, Austria, Belgium, China, Cyprus, Czech Republic,
Finland, France, Germany, Greece, Hungary, India, Ireland, Italy,
Malaysia, Netherlands, Norway, Poland, Portugal, Russia, Singapore,
Slovakia, Spain, Sweden, Switzerland, Taiwan, Turkey, UK, USA.
Disclaimer
This communication contains statements that constitute
"forward-looking statements". In this communication, such
forward-looking statements include, without limitation, statements
relating to our financial condition, results of operations and
business and certain of our strategic plans and objectives. Because
these forward-looking statements are subject to risks and
uncertainties, actual future results may differ materially from those
expressed in or implied by the statements. Many of these risks and
uncertainties relate to factors which are beyond Kardex's ability to
control or estimate precisely, such as future market conditions,
currency fluctuations, the behavior of other market participants, the
actions of governmental regulators and other risk factors detailed in
Kardex's past and future filings and reports and in past and future
filings, press releases, reports and other information posted on
Kardex Group companies' websites. Readers are cautioned not to put
undue reliance on forward-looking statements, which speak only of the
date of this communication. Kardex disclaims any intention or
obligation to update and revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

Contact:

Jos De Vuyst
Chief Executive Officer
E-Mail: jos.devuyst@kri-group.com

Reto Welte, Chief Financial Officer
Phone: +41/44/386'44'15
Fax: +41/44/386'44'17
E-Mail: reto.welte@kri-group.com

Plus de actualités: Kardex Systems AG
Plus de actualités: Kardex Systems AG