RHI Magnesita N.V.
RHI AG english
RHI sells Engineering business to Deutsche Beteiligungs AG
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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RHI sells Engineering business to Deutsche Beteiligungs AG
Deutsche Beteiligungs AG has, together with the Management, acquired the entire
Engineering business of the RHI group. The Engineering group employs a total of
780 people and reported sales revenues of more than EUR 230 million worldwide in
the year 2001. Approx. EUR 195 million of it were consolidated in the RHI
group. For the Engineering companies, the change in ownership opens up good
perspectives for an attractive development within the group of Deutsche
Beteiligungs AG.
RHI is selling all six Engineering business units with nine core companies,
which have established brand names in their respective markets:
Didier-M&P Energietechnik GmbH (share: 66.67%), Mainz-Kastel (blast furnaces),
Maerz-Gautschi GmbH, Düsseldorf (industrial kilns for the steel, aluminum and
copper industries); Kaefer Raco Engineering GmbH, Bremen, and Bachmann
Industries Inc., USA (components and systems for gas power plants); Maerz
Ofenbau AG, Switzerland, and Cimprogetti S.p.A., Italy, (kilns for the firing of
limestone); parts of the Zimmermann & Jansen Group as well as Hermann Rappold
GmbH, both based in Düren (industrial valves); StrikoWestofen GmbH (share: 58%),
Wiehl (melting and proportioning kilns for the light metals industry).
By selling Engineering, RHI is continuing the restructuring and the groups
concentration on the core business Refractories. The objectives of the business
plan, which RHI presented in the context of the capital restructuring, will not
be affected by the sale. Rather, the loss of earnings potential for RHI is more
than compensated by the positive liquidity and risk effects. The consolidated
balance sheet will be discharged from future pension and purchase price
obligations. Moreover, RHI can reduce its financial liabilities due to the
selling price.
The positive liquidity effect for RHI amounts to more than EUR 40 million in the
medium term.
The enforcement of the contracts is subject to the approval of the competent
cartel authorities.
end of ad-hoc-announcement (c)DGAP 03.06.2002
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WKN: 067690; ISIN: AT0000676903; Index: ATX
Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt, München;
Freiverkehr in Berlin, Hamburg, Stuttgart
031403 Jun 02
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