Carl Edelmann GmbH
Carl Edelmann GmbH: Edelmann Group takes stake in packaging manufacturer Chesapeake
Carl Edelmann GmbH / Joint Venture Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Heidenheim folded carton company holds 13,5 percent of shares in listed US Group / Further strategic financial investment sought in international packaging manufacturer Heidenheim/Richmond, Va., September 25, 2008. With turnover of around EUR 200 million and 1350 employees, Edelmann Group is one of Europe's leading manufacturers of folded cartons. Now Edelmann has taken a participating interest in Chesapeake, a US group listed on Wall Street (NYSE: CSK). The management of the Heidenheim-based company announced that Edelmann has acquired 13,5 percent of the shares in the international packaging manufacturer. This now makes Edelmann its second largest single shareholder. Headquartered in Richmond, Virginia, Chesapeake Corporation achieved turnover of around USD 1 billion last year (EUR 720 million). More than 80 percent of this came from cardboard manufacture and processing. Incorporated in 1918, Chesapeake today employs a total staff of 5400 at some 40 sites worldwide, 34 of them in Europe. The corporation is the leading supplier of folded cartons to the pharmaceuticals industry and healthcare sector. The strong business sector of pharmaceutical packaging of Chesapeake could be of strategic importance to Edelmann Group, already a leading purveyor of folded cartons to this industry in Germany and Europe-wide. The American group's turnover in this field currently stands at around USD 400 million. 'Chesapeake is ideally placed, with sites in England, France, Ireland, Belgium and also Germany. Pooling this capacity with Edelmann's could create Europe's biggest pharmaceutical packaging manufacturer,' explained Dierk Schröder, management spokesman for Carl Edelmann GmbH & Co., a limited partnership. A number of further investment options are currently under review. 'Investing even more would be very attractive to us on strategic grounds. All options are open, from minority shareholding to possible takeover of part of the business, with the help of institutional investors,' added Schröder. For further information: Engel & Zimmermann AG Business Communications Agency Fussberg Castle, Am Schlosspark 15, 82131 Gauting Tel. 089 89 356 353, fax 089 89 398 429 e-mail: info@engel-zimmermann.de Carl Edelmann GmbH & Co. KG, Paradiesstrasse 20, 89522 Heidenheim Tel. 07321 3400, fax 07321 340 359 e-mail: marketing@edelmann.de www.edelmann.de 25.09.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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