(Ad-hoc) Dürr and HORIBA, Ltd. sign a contract for the sale of Dürr's DTS business unit
08/18/2005 - Dürr AG - WKN 556520 / ISIN DE0005565204
Dürr AG, Stuttgart, is selling its Development Test Systems business unit (DTS) to HORIBA, a technology group based in Kyoto, Japan. Both parties have signed the contract regulating the sale on late Wednesday evening.
DTS is a leading supplier of test systems for vehicle development such as engine and transmission test stands. The DTS lead company, Schenck Pegasus GmbH, Darmstadt, Germany and six other DTS companies and affiliates of the Schenck Group, which belongs to Dürr, are being sold. DTS achieved sales revenues of € 75 million in 2004 with some 500 employees.
With the sale of DTS, Dürr is separating from one of its portfolio's peripheral businesses. In the context of the recently announced FOCUS program Dürr is concentrating on its core business activities and puts peripheral activities to the test. Aside from cost savings, FOCUS also entails a realignment of the business model to concentrate on the higher margin modernization and services business.
The parties to the contract have agreed not to reveal the sale price. Consummation of the contract is subject to the usual restrictions, particularly regarding the approval of the antitrust authorities. Dürr assumes that the sale will be wrapped up in the third quarter, with a mostly neutral effect on earnings.
Dürr AG
The executive board
End of disclosure
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