SiC Processing AG
SIC Processing AG plans IPO in Q4 2006
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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SiC Processing AG plans IPO in Q4 2006
– International service provider to the wafer industry
– Leading position based on patented process
– Growth driven by photovoltaic and semiconductor industries
Hirschau, October 16th, 2006 – SiC Processing AG, a world-leading service
provider in the field of mechanical wet separation technology for the wafer
industry, plans to go public in the official market (Prime Standard) of the
Frankfurt Stock Exchange in the fourth quarter of 2006.
SiC Processing AG offers its customers in the wafer industry a
comprehensive range of services for the processing of sawing slurries used
in the production of wafers for the photovoltaics and semiconductor
industries. Sawing slurry is a viscous mixture that is applied to the saw
wire in the wafer sawing process to give it the required specific hardness
to saw the wafers. Used sawing slurries must be exchanged at regular
intervals. They are either disposed of, which entails additional waste
disposal costs, or processed and reused – for instance using the patented
process of the SiC Group.
In its treatment process, the SiC Group recovers silicon carbide and
glycol, two valuable products contained in the slurry, and processes them
for reuse in the sawing process. This allows the company to offer its
customers long-term cost advantages. The recovery and processing services
are complemented by comprehensive logistic services. These include, in
particular, transport, storage and purchase of base materials and sawing
slurries and the mixing of ready-to-use sawing slurries for customers from
the photovoltaics and semiconductor industries.
In the fiscal year 2005, the SiC Group generated sales of EUR 13.7 million
(IFRS), which represents a 37.3% increase over the previous year. Group
EBIT and net profit for the year 2005 amounted to EUR 1.9 million and EUR
1.1 million, respectively. On a pro-forma consolidated basis, i.e.
including the activities in Italy, Norway and the USA which were integrated
into the SiC Group in 2006, sales in 2005 totalled approximately EUR 19.0
million. Pro-forma EBIT in 2005 amounted to EUR 2.2 million. SiC almost
doubled its production capacities in 2005. At the end of 2006, the company
is expected to operate four plants in Germany, Norway, the USA and China
with a combined annual processing capacity of up to 65,500 t of sawing
slurry.
SiC plans to use the proceeds from the IPO to increase its existing
production capacities through the construction of new plants, to expand its
sales and service structures and to push ahead its international expansion.
“We will continue to focus on the processing of sawing slurries and the
related management activities for the wafer industry and want to expand our
pioneering position in this market. Both our target markets – photovoltaics
and semiconductors – are characterised by high growth rates, which benefit
both the wafer manufacturers and ourselves. With a view to the political
environment, it is especially the solar energy companies that are eager to
cut their costs and make their production more efficient. We can support
our customers in achieving this goal. This is one of the reasons why we see
good opportunities for winning new customers for our services both
nationally and internationally,” said Thomas Heckmann, CEO of SiC
Processing AG to explain the company’s strategy.
Disclaimer:
This press release constitutes neither an offer to sell nor a solicitation
to buy or to subscribe securities. The offer will be made exclusively by
means of and on the basis of a securities prospectus to be published and
deposited at the Federal Agency for the Supervision of Financial Services
(Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin). The Securities
Prospectus will be available free of charge at a date still to be
determined at the Admissions Board of the Frankfurt Stock Exchange
(Zulassungsstelle der Frankfurter Wertpapierbörse), with the issuer and
with the issuing syndicate of banks and on the internet under
www.sic-processing.com.
This press release is not meant to be published and must not be published
in the United States of America. This publication does not constitute an
offer to sell securities in the United States of America. The securities
mentioned in this publication are not and will not be registered pursuant
to provisions of the US Securities Act 1993 as amended and may only be sold
or offered for purchase upon registration or based on an exemption from the
requirement to register. The shares are not and will not be publicly
offered in the USA.
Contact:
Haubrok Investor Relations
Frank Ostermair / Michael Müller
+49 (0) 211-301260
m.mueller@haubrok.de
(c)DGAP 16.10.2006
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