Heyde AG
Heyde AG english
Heyde focuses on core competencies
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Heyde focuses on core competencies
(Bad Nauheim, 01.03.02) Heyde AG will reinforce its refocusing and concentrate
exclusively on its core competencies within its Supply Chain and Financial
Services Divisions. In these identified areas which have particular growth
potential, Heyde has a track record of proven expertise. The pertinent
activities will include an enhanced market penetration.
Based on this strategically conceived and consequent repositioning, the Managing
Board has decided to focus the systems integration business on Germany. This
entails closing down the loss making systems integration subsidiaries in the UK,
in Brazil, and Spain. The subsequent write-downs of interest in and loans
relating to domestic and international operations increase the loss for the year
2001 to over 50 % of shareholder’s equity. The managing board will act
according to §92 Aktiengesetz (German Corporate Law) and immediately summon an
extraordinary General Meeting. Invitations will be published immediately after
the legal agenda will have been finalized.
In order to reinforce the strategic and operating roll-out of the next
restructuring steps, the management consultancy Droege & Comp. will be involved
in the reorganization, acting as temporary management in several areas.
The new size of the company resulting from this refocusing will also result in
optimized infrastructure and service capacities, including a sustainable revised
real estate and infrastructure concept. In order not to impede the success of
this restructuring effort by maintaining the costly Neuer Markt listing, plans
are to shift to the Geregelter Markt, the organized market of Deutsche Börse.
The company might reapply for a listing on the Neuer Markt after having returned
to sustainable and profitable growth.
The entire restructuring plan was talked through with Heyde’s principal banks,
who continue to support the company and are contributing to laying the basis for
a successful restructuring by extending the credit line.
In the context of this reinforcement of refocusing on its strategically
attractive business units, Heyde is open for contacts with potential strategic
partners. Initial negotiations are in process already.
end of ad-hoc-announcement (c)DGAP 01.03.2002
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WKN: 602670; ISIN: DE0006026701; Index: NEMAX 50
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen Düsseldorf,
Hamburg, München, Stuttgart, Hannover
011017 Mär 02
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