euro adhoc: ElringKlinger AG / Mergers - Acquisitions - Takeovers / ElringKlinger AG and SEVEX family owners sign deal for takeover of Swiss heat shield specialist SEVEX Group

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Company Information

31.03.2008

Dettingen/Erms (Germany)/Sevelen (Switzerland), March 31, 2008 +++
ElringKlinger AG acquires SEVEX AG, Sevelen, a Swiss manufacturer of
thermal and acoustic shielding systems. The agreement was finalized
and signed today by both parties. In addition to acquiring the Swiss
parent company, ElringKlinger takes over the US-based subsidiary
SEVEX North America, Inc., Buford, as well as SEVEX Asia,
headquartered in Suzhou, China.

Both parties to the contract have agreed not to disclose details of
the purchase price. The closing of the takeover transaction is still
subject to the usual provisos, in particular the receipt of official
approval by the antitrust authorities. ElringKlinger expects the
closing of the transaction by end of April.

ElringKlinger expects the SEVEX Group to achieve sales revenue of
around CHF 95 million for 2008 (EUR 59 million). The purchase price
is within a range of 7- to 8- times EBIT. ElringKlinger expects the
transaction to be earnings accretive in 2008.

Complementary technology Increasingly, automobile manufacturers are
turning to smaller, lighter and, in many cases, turbocharged engines
with complex exhaust-cleaning technology, the objective being to
scale down fuel consumption and reduce emission levels. Given the
technologically demanding, high-temperature environment associated
with such solutions, thermal shielding systems are becoming
increasingly important to the overall design. Whereas ElringKlinger
has established a strong position within the area of engine shielding
components, SEVEX is recognized as one of the leading suppliers of
underbody heat shield systems and solutions deployed in the vehicle
exhaust tract. Thus, the SEVEX Group product range will complement
ElringKlinger's existing product portfolio in an ideal way.

ElringKlinger advances to become second largest supplier worldwide In
2007, ElringKlinger Group generated sales of approximately EUR 93
(72) million in its Shielding Technology division. The acquisition of
SEVEX will propel the ElringKlinger Group to second place in the
international supplier ranking for engine, underbody and exhaust
tract shielding systems.

end of announcement euro adhoc
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ots Originaltext: ElringKlinger AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Stephan Haas

Investor Relations Manager

Telefon: +49 (0)7123 724-137

E-Mail: stephan.haas@elringklinger.de

Branche: Automotive Equipment
ISIN: DE0007856023
WKN: 785602
Index: SDAX, CDAX, Classic All Share, Prime All Share
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