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condomi: New strategy for the Republic of South Africa
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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condomi: New strategy for the Republic of South Africa
Cologne, 1st September 2003. After finalisation of the analysis of its South
Africa project, also in conjunction with the ongoing restructuring process of
the condomi Group the management of condomi AG has decided not to go ahead with
the planned construction of a condom finishing plant in South Africa, within the
framework of the joint venture and to concentrate completely on the production
plants in Erfurt, Germany and Dobczyce, Poland. In future the brand and private
label market as well as the tender market of the Republic South Africa will be
served, like all key markets in Africa for example Kenya and Nigeria, from
Germany.
In 2001 the subsidiary of condomi AG, the condomi plus GmbH, entered into a
joint venture with South African partners to construct and operate a condom
finishing plant in the Republic of South Africa. condomi plus GmbH has a 60
percent share capital in the joint venture company condomi Africa Ltd. The other
partners are Ferrostaal Investments South Africa (pty) Ltd. and Khula
Industrial Investments Corporation (pty) Ltd. In line with the decision
mentioned above, an application was made in South Africa to liquidate condomi
africa Ltd. The joint venture contract will be dissolved very shortly in order
to give all parties involved the opportunity to pursue their own strategies.
Please direct any enquiries to:
Investor Relations
Venloer Strasse 231 b
50823 Cologne
Germany
Telephone +49 (0)221 50 04-400
Telefax +49 (0)221 50 04-499
E-mail ag@condomi.AG
end of message, (c)DGAP 01.09.2003
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WKN: 544490; ISIN: DE0005444905; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, München und Stuttgart
011442 Sep 03
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