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Kardex Systems AG

EANS-Adhoc: Kardex AG acquires Scandinavian Element Storage Systems AS

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
16.04.2009
Kardex AG has signed an asset purchase agreement to acquire the 
activities aligned to Kardex and Stow products of Scandinavian 
distributor Element Storage Systems AS. Element Storage Systems AS 
based in Kløfta near Oslo achieved sales of approximately EUR 11 
million with Kardex and Stow products in the 2008 financial year and 
has a workforce in this field of activity of around 20 people. The 
transaction will be completed on May 6, 2009 subject to the approval 
of the Norwegian competition authority. The purchase price will not 
be disclosed.
Element Storage Systems AS is one of the leading suppliers of 
computer-controlled, automatic Kardex storage, supply and 
distribution systems in the Scandinavian market and it markets the 
static storage systems of the Stow division in Scandinavia under the 
brand 'Arkiv & Lager'.
Under the planned transaction, Kardex AG will strengthen its present 
distribution company Kardex Scandinavia AB with a sales organisation 
on the Scandinavian market focused on Kardex and Stow products.
Agenda
April 21, 2009 General Meeting of Shareholders
Kardex Remstar International Group Australia, Austria, Belgium, 
China, Cyprus, Czech Republic, Finland, France, Germany, Great 
Britain, Hungary, India, Ireland, Italy, Malaysia, Netherlands, 
Norway, Poland, Portugal, Russia, Singapore, Slovakia, Spain, Sweden,
Switzerland, Turkey, US.
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.
end of announcement                               euro adhoc

Further inquiry note:

Jos De Vuyst, Chief Executive Officer
jos.devuyst@kri-group.com
Tel. +41 (0) 44 386 44 15

Gerhard Mahrle, Chief Financial Officer
gerhard.mahrle@kri-group.com

Branche: Heavy Engineering
ISIN: CH0018263415
WKN: 1826341
Index: SPI, SPIEX, SSCI
Börsen: SWX Swiss Exchange / regulated dealing

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