Komax Holding AG: Management acquires Komax Solar's activities

        Komax Holding AG: Management acquires Komax Solar's activities  Komax Holding AG / Management acquires Komax Solar's activities . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.  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         marco.knuchel@komaxgroup.com Communications  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.  Media release (PDF)  ------------------------------------------------------------------------------  This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Komax Holding AG via Globenewswire HUG#1849585  --- End of Message ---  Komax Holding AG Industriestrasse 6 Dierikon-LU Switzerland  WKN: 1070215 ;ISIN: CH0010702154;  
Press spacebar to pause and continue. Press esc to stop.