ueb67

July 22, 2008

Klockner sell Koenig Verbindungstechnik for EUR 325 million

Acting through its Swiss subsidiary Debrunner Koenig Holding,Kl?ckner & Co AG has signed a contract to sell KoenigVerbindungstechnik to the private equity company Capvis. The saleprice totals approximately EUR 325 million, resulting in a bookprofit after taxes of about EUR 265 million. The transaction issubject to approval by the antitrust authorities.

KVT a wholly owned subsidiary of DKH is involved in the market offastening systems and sealing plugs an area that is not part of thecore business of Kl?ckner & Co AG. The planned sale wasannounced in the company’s report for the first quarter of2008.

KVT, which is headquartered at Dietikon in Switzerland has aworkforce of about 300 people. In fiscal year 2007, it generatedsales of about EUR 120 million and earnings after taxes of aroundEUR 20 million. Among other things, the company for fasteningsystems and sealing plugs sells self clinching fasteners, rivetingsystem, nuts as well as high-pressure fasteners used particularlyin automotive technology for hydraulic applications.

Dr Thomas Ludwig, CEO of Kl?ckner & Co AG said that "We areintensifying our focus on our core business in Europe just as weare doing in North America. The funds generated by the sale of KVTcan be used to finance the expansion of Kl?ckner & Co.