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Dürr receives proceeds of 205 € m from the sale of its business unit Measuring and Process Technologies

01/02/2006

Dürr AG, Stuttgart, and HgCapital, a private equity company, have closed the contract selling Dürr's Measuring and Process Technologies business unit (MPT) to HgCapital effective December 30, 2005. The contract of sale between Dürr and HgCapital was signed, as reported by Dürr, on October 31, 2005.

All relevant antitrust authorities have approved the sale. The proceeds from the transaction of about € 205 m were transferred effectively December 30, 2005. The transaction profit after fees and taxes is expected to be a double digit million figure, which will be set off by one-off charges in the group accounts arising from the announced restructuring program. With the sale of MPT Dürr finalized the concentration on its core business with the automotive industry, and also its financial restructuring.

About MPT

MPT is a supplier of systems and components for weighing, feeding, automating, and screening in industrial processes. It primarily supplies sectors such as mining, cement, steel, and chemicals. In 2005, MPT should achieve sales of about € 225 m with 1,100 employees. MPT belonged to Dürr's Measuring and Process Systems division, which will consist of the Balancing and Diagnostic Systems (Schenck RoTec) and the Cleaning and Filtration Systems (Dürr Ecoclean) business units after the sale of MPT. The Measuring and Process Systems division will generate annual sales of about € 300 m after the sale.

About HgCapital

HgCapital is one of Europe's leading private equity investors with sector focus and manages fund assets amounting to € 1.3 billion. The group concentrates on investments of medium size, with volumes ranging from € 40 m to € 400 m. HgCapital has offices in London, Frankfurt, and Amsterdam. In Germany, HgCapital funds have acquired seven companies since 2003, including FTE Automotive, Hirschmann Electronics, W.E.T. Automotive, and Doc Morris. Those seven transactions add up to almost € 1 billion.