euro adhoc: HTI - High Tech Industries AG
Mergers - Acquisitions - Takeovers /
HTI AG EXPANDS INTO THE ENERGY TECHNOLOGY SECTOR THROUGH THE ACQUISITION OF THE
HITZINGER GROUP
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
05.09.2008
HTI AG EXPANDS INTO THE ENERGY TECHNOLOGY SECTOR THROUGH THE ACQUISITION OF THE HITZINGER GROUP
Following the unqualified approval granted by anti-trust authorities and completion of the contractually stipulated capital increase, HTI AG successfully concluded the acquisition of the Hitzinger Group, thus serving as the basis for its penetration of the future-oriented energy technology market segment.
St. Marien, Austria, September 5, 2008. The Management Board of HTI High Tech Industries AG announces the successful conclusion of the acquisition of a 100% stake in Elektromaschinen Bau GmbH (EMB), and thus a majority shareholding (80%) of the Hitzinger Group by HTI AG. The acquisition was successfully completed today following the implementation of a capital increase, partially on the basis of using its authorized capital, by issuing 600,000 new shares against a contribution in kind at the issue price of EUR 3.25 per share.
HTI Chief Executive Officer Peter Glatzmeier is pleased with the successful conclusion of the acquisition. "The acquisition of the Hitzinger Group and the related expansion into the energy technology segment demonstrates our future-oriented strategic orientation. In the future, HTI will manufacture generators for small and medium-sized hydroelectric power plants. On the basis of the development and supply of generators for diesel electric locomotives, the upgrading of the public railway system will emerge as a key focal point of the company´s business operations. Another priority of the HTI Group will be to ensure a sufficient supply of electricity for public and private facilities as well as industrial applications, which is related to its production of emergency power generators and uninterruptible power supply systems. Moreover, the HTI product portfolio will be expanded to include intelligent systems designed to provide electricity for airplanes on the ground. The integration of Hitzinger and its extensive technological competence enables us to intensively focus on the further development of environmentally efficient power generation systems in the future. HTI AG expects this acquisition to increase total Group sales by about EUR 60m. The current level of orders totaling approximately EUR 50m not only ensures that production plants will operate at full capacity over the next 12 months, but confirms the outstanding market position of Hitzinger."
Information on HTI AG is available on the corporate Website at www.hti-ag.at.
Information on Hitzinger is available on its corporate Website at www.hitzinger.at.
end of announcement euro adhoc
Further inquiry note:
HTI High Tech Industries AG, Nadja Goyer, Investor Relations, Tel: +43 (0) 3862
304-8562, Fax: +43 (0) 3862 304-7598, Mail: n.goyer@hti-ag.at
Branche: Holding companies
ISIN: AT0000764626
WKN: A0DQ9W
Index: WBI
Börsen: Wiener Börse AG / official market