(Ad-hoc) Dürr and HORIBA Ltd. close contract selling Dürr's DTS business unit
09/30/2005 - Dürr AG - WKN 556520 / ISIN DE0005565204
Dürr AG, Stuttgart, and the Japanese firm, HORIBA Ltd., Kyoto, have closed the contract selling Dürr's Development Test Systems business unit (DTS) to HORIBA effective September 30, 2005.
The antitrust authorities have approved the sale. The proceeds from the transaction of about € 27 million have been realized effective September 30, 2005. The transaction has been completed with a mostly neutral effect on earnings. The contract of sale between Dürr and HORIBA was signed, as reported by Dürr, on August 17, 2005.
DTS is a leading supplier of test systems for vehicle development, such as engine and transmission test stands. The sale comprised the DTS lead company, Schenck Pegasus GmbH, Darmstadt, Germany, and six other DTS companies and holdings of the Schenck group, which belongs to Dürr. DTS achieved sales revenue of € 75 million with about 500 employees in 2004.
In selling DTS, Dürr is parting with a peripheral area of its portfolio. In the framework of its recently announced FOCUS program, Dürr is concentrating on its core business. The aims of the FOCUS program include not only cost reduction, but also increased orientation of the business model to higher- margin modernization and service business.
Dürr AG
The executive board
End of disclosure
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