EMTS Technologie AG
EMTS Technologie AG english
EMTS: Austrian subsidiary filing for insolvency.
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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EMTS: Austrian subsidiary filing for insolvency.
Organization operating successfully in its core countries.
Salzburg: EMTS Austria GmbH, a subsidiary of EMTS Technologie AG, is compelled
to file for insolvency. Even though the company, after a long time, returned to
positive earnings in January and thus managed to achieve a turnaround, due to
the termination of the agreement with Nokia (accounting for some 60% of
revenues), it was impossible to avert the company’s insolvency. Revenues
generated by EMTS Austria GmbH amounted to approx. Eur 18.2 million in 2002. The
insolvency will affect some 190 employees, in the Parndorf plant and in the
walk-in centers throughout Austria.
The EMTS subsidiaries in Germany, Italy, Spain and Denmark are operating
successfully, holding attractive prospects in store for the future in general
and in terms of earnings; in future, these will represent the core countries of
the EMTS Group. In Finland, too (with a 51% share) operations are developing
satisfactorily.
The situation in Sweden, Norway and Estonia remains highly tense. The
Management is engaged in intense negotiations with Nokia and other interested
partners with a view to continuing the company’s activities in the relevant
countries.
Extraordinary General Meeting
Shareholder Franz Guggenberger has filed an action with the Regional Court of
Salzburg to set aside the resolution of the extraordinary general meeting of
February 5, 2003 authorizing the Board of Management to effect a capital
increase (authorized capital). On account of this action, the proceedings
relating to the registration of the company’s authorized capital have been
interrupted; the decision regarding this interruption is not yet final and
binding.
http://www.emtscenter.com
Investor Relations: E-mail: investor.relations@emtscenter.com
Tel.: +43-662-623 391-0
Corporate spokesperson: Karin Keglevich
E-mail: keglevich@spa.co.at
Tel.: +43-1-532 25 45-10
end of ad-hoc-announcement (c)DGAP 13.03.2003
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WKN: 616516; ISIN: AT0000926266; Index: SWX New Market
Listed: Swiss Exchange; Freiverkehr in Berlin, Frankfurt, München und Stuttgart
131832 Mär 03
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