Buderus AG
Buderus AG english
Buderus sells cement unit to HeidelbergCement
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
Buderus sells cement unit to HeidelbergCement
Buderus intends to sell its cement unit to HeidelbergCement AG, Germany`s
leading cement company, with effect from January 1, 2003. In return, Buderus
will receive a block of shares. The sale is subject to the approval of the two
companies` Supervisory Boards, which will take their decision before the end of
the week, as well as to the approval of the Federal Cartel Office. The cement
unit comprises the Wetzlar cement plant, which boasts an annual production
capacity of roughly 1 millon tons, the related limestone and gypsum quarries as
well as Baustoff-Union. HeidelbergCement AG will take over all 115 Buderus
employees and continue the company`s activities in Wetzlar. After the sale of
the cement activities, the Buderus Castings Division will continue to focus on
brake disks, cast iron pipe systems and precision castings. These core
activities have been strengthened recently by the construction of a new brake
disk plant and the takeover of Feingusswerk Moers. The sale of the cement
activities will increase the financial reserves for the expansion of the Heating
Products Division, which aims to become the European market leader.
end of ad-hoc-announcement (c)DGAP 10.12.2002
——————————————————————————–
WKN: 527800; ISIN: DE0005278006; Index: MDAX
Listed: Amtlicher Markt in Berlin, Düsseldorf, Frankfurt, Hamburg, München;
Freiverkehr in Bremen, Stuttgart, Hannover
101158 Dez 02
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found