Another milestone in the realignment achieved
Funkwerk AG has concluded the sale of Funkwerk Enterprise
Communications GmbH, hitherto a group subsidiary. The
entire Enterprise Communication (EC) segment has been sold
to Teldat, a Spanish group based in Madrid. As expected,
liquid funds totaling some EUR 8.5 million will accrue to
Funkwerk AG from the transaction. In other words, together
with the sale of Alpha Meß-Steuer-Regeltechnik GmbH in
November 2011, Funkwerk has booked a cash inflow of around
EUR 18 million, appreciably stabilizing the company's
financial base.
The sales contract, which as reported was signed on October
18, 2011, was completed with Teldat S.A. of Spain and duly
notarized on January 13, 2012, after fulfillment of all
conditions precedent. The transaction covers Funkwerk
Enterprise Communications GmbH in Nuremberg and its
subsidiaries Funkwerk IP-Appliances GmbH (Nuremberg),
Funkwerk Aphona GmbH (Vienna, Austria), Funkwerk Enterprise
Communications France S.A.S. (Gradignan Cedex, France) and
Funkwerk Enterprise Communications Italia S.R.L. (Milan,
Italy), which thus are no longer part of the Funkwerk group
and are deconsolidated.
With the successful closure, Funkwerk AG has achieved
another milestone in the realignment of the group and its
refocusing on its core areas. Since 2011 Funkwerk has
concentrated exclusively on growth areas with strong
margins and has spun off peripheral activities in order to
bring company resources to bear more meaningfully and
likewise optimize the organization's structure.
As reported, Funkwerk's annual financial statements for
2011 will noticeably reflect the realignment measures.
Figures for the 2011 business year will be released on
March 29, 2012.
For more details, please contact:
Funkwerk AG
Im Funkwerk 5
99625 Kölleda
Germany
Jörg Reichenbach
Investor Relations
Tel.: +49- 36-35-600-346
Fax: +49-36-35-600-507
reichenbach@funkwerk.com
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