Komax Holding AG: Management acquires Komax Solar's activities
Komax Holding AG / Management acquires Komax Solar's activities . Processed
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The Komax Group has agreed to sell the solar activities to the existing
management team through a management buyout (MBO). The MBO is structured as an
asset deal. The business will be continued by a new company in which Komax has
a minority holding.
Following the decision taken by the Board of Directors last year to withdraw
from the solar business and focus more closely on the Komax Group's core
business, the transfer of solar activities to Komax Solar's management is a
solution that respects the interests of all stakeholder groups. Komax Solar's
activities will therefore be transferred to a new company in which Komax has a
minority holding. This will enable Komax to realize, as far as possible, the
assets that are currently tied up in the solar business. Furthermore, it will
ensure that pending orders are fulfilled and safeguard service support for the
installed machine base.
The Solar segment's first-half result for 2014 is summarized as "result from
discontinued operations" below the EBIT item.
The new company is due to commence operations in the second half of 2014. As a
result of the MBO, Walter Nehls, currently Head of Komax Solar, will step down
from Group Management and leave the Komax Group. The Board of Directors and
Group Management would like to thank him sincerely for his hard work in a
challenging environment and for the pleasant working relationship.
For more information, please contact:
Marco Knuchel Phone+41 41 455 06 16
Head Investor Relations/Corporate email@example.com
The Komax Group is a global technology company that focuses on markets in the
automation sector. As a leading manufacturer of innovative and high-quality
solutions for the wire processing industry and systems for the manufacture of
self-medication solutions, Komax helps its customers implement economical and
safe manufacturing processes, especially in the automotive supply and
pharmaceutical sectors. The Komax Group employs around 1 500 people worldwide
and provides sales and service support via subsidiaries and independent agents
in around 60 countries.
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Source: Komax Holding AG via Globenewswire
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Komax Holding AG
Industriestrasse 6 Dierikon-LU Switzerland
WKN: 1070215 ;ISIN: CH0010702154;
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