EANS-News: Semperit AG Holding / Semperit and Sri Trang finalise termination of almost all joint venture activities // Thomas Fahnemann to leave Semperit

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Joint Ventures/Cooperation/Collaboration/Board of Directors (Changes)

Today, the Austrian Semperit Group ("Semperit") and the Thai Sri
Trang Agro- Industry Public Co Ltd. Group ("Sri Trang") have
finalised the termination of almost all joint business activities,
which was agreed on 18 January 2017. All terms and conditions defined
at that time have been fully met ("closing").

Semperit has now taken over several Sempermed joint venture
companies, the majority interest in the Malaysian Formtech (producer
of ceramic moulds for glove production) as well as production
companies of the Industrial Sector in China. Sri Trang has taken over
the glove production of Siam Sempermed Corporation Ltd (SSC) in
Thailand, which had been operated jointly to date. In Thailand, the
joint venture Semperflex Asia (SAC) for the production of hydraulic
hoses will be continued.

Semperit received a one-time compensation payment amounting to USD
167.5 million (around EUR 157 million) before taxes as well as a
dividend payment of around USD 51 million (around EUR 48 million)
before taxes from the former joint venture Siam Sempermed (SSC). The
cash inflow for Semperit totals around USD 200 million (around EUR
187 million) before taxes. Finally, all pending arbitration and civil
proceedings between the Semperit Group on the one hand and the Sri
Trang Group and SSC on the other hand were settled by mutual consent.

Sempermed: strong brand and modern production Even after the
separation, Semperit will remain one of the top ten players in the
global market for examination and protective gloves with the
Sempermed segment. Sempermed is one of the globally leading glove
brands and has excellent market access through its dense distribution
network in Europe and North America. This access to the market will
be strengthened by the full takeover of the sales company Sempermed
USA.

On the production side, Semperit operates factories in Austria
(surgical gloves) and Malaysia, the world's largest glove producer.
Currently, the capacities in Malaysia are further expanded with the
construction of one of the most modern and efficient production
facilities of the glove industry.

Thomas Fahnemann: "The resolution of the joint venture dispute is an
important step in Semperit's long history of success. With this step,
Semperit can now fully concentrate on continuing its own successful
path. In the Industrial Sector, Semperit is able to proceed its
growth course according to plan by further globalising the business
and expanding capacities. In the Medical Sector, Semperit is now
fully in charge of its own house. With a strong brand, high-quality
products and first-class sales organisation the company has an
excellent base for further expanding Sempermed's market position in
the core markets, Europe and the USA. The cash inflow gives Semperit
additional power for this strategy. The financial strength now
enables the company to push ahead growth investments even better."

Furthermore, Semperit CEO Thomas Fahnemann requested the Supervisory
Board to immediately release him from his Management Board contract.
Fahnemann explained this step with seeking new professional
challenges after the successful termination of the joint venture
transaction and the related realignment of Semperit.

Veit Sorger, as Chairman of the Supervisory Board, expresses his
regrets concerning this step: "In the past six years, Thomas
Fahnemann has guided Semperit into a new direction. Semperit is an
internationally successful company with a convincing strategy that
has been shaped to a significant extent by Thomas Fahnemann. His
personal achievements include the dynamic expansion and realignment
of the highly profitable Industrial Sector, the development of our
own glove production in Malaysia as well as the resolution of the
joint venture dispute with Sri Trang. Thanks to his dedicated
management, Semperit is well positioned today and will utilise its
growth potential in the best possible way even in a difficult market
environment." A decision on his succession as CEO will be taken in
the coming weeks.

Further inquiry note:
For questions regarding the resignation of Thomas Fahnemann:
Jürgen H. Gangoly
Managing Partner
The Skills Group GmbH
T: +43 1 505 26 25 DW 13
M: +43 664 2000 260
E: gangoly@skills.at

For questions regarding the termination of the joint venture activities:
Martina Büchele
Group Communications Manager
Tel.: +43 676 8715 8621
martina.buechele@semperitgroup.com

Stefan Marin
Head of Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperitgroup.com

end of announcement euro adhoc
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company: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ATX Prime, ViDX, Prime Market, ATX GP
stockmarkets: official market: Wien
language: English

Original-Content von: Semperit AG Holding, übermittelt durch news aktuell