DGAP-News

OHB AG: Merger of OHB System AG and Erwin Kayser-Threde GmbH now completed

DGAP-News: OHB AG / Key word(s): Miscellaneous
OHB AG: Merger of OHB System AG and Erwin Kayser-Threde GmbH now
completed

01.09.2014 / 09:00

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Merger of OHB System AG and Erwin Kayser-Threde GmbH now completed

Bremen/Munich, September 1, 2014. OHB System AG, Bremen, and Erwin
Kayser-Threde GmbH, Munich, have now merged under the name of OHB System
AG. However, the Kayser-Threde logo will continue to be used for process
control technology activities. By taking this step, the parent company
European technology specialist OHB AG is pooling its two subsidiaries'
capabilities and capacities. "Two outstanding companies in the space
industry are today joining forces to become a satellite and payload systems
specialist which will be assuming a new role in the European market on
account of its scale and organizational structure," says Marco Fuchs, the
CEO of OHB AG and OHB System AG. "In this way, we will be able to leverage
our own internal skills more effectively and thus operate with heightened
efficiency and competitiveness. We will be benefiting from the resultant
advantages as much as our customers will be," Fuchs adds.

With their different skills, the two former affiliates had previously
already been working jointly on major projects such as the MTG weather
satellites and the EnMAP environmental satellite. Accordingly, the merger
is a logical step to reinforce and optimize the joint activities on a
sustained basis and to position the two sites for the challenges which they
face in their operations.

The transaction is a merger of equals with key management functions and
sustained recruitment and personnel development activities based at both
sites. The new OHB System AG has a seven-strong management board
comprising: Marco R. Fuchs (CEO), Dr. Fritz Merkle, Frank Negretti, Dr.
Ingo Engeln, Kurt Melching, Andreas Lindenthal and Boris Penné. "The merger
has been planned very carefully. With the organizational structures now in
place, the next task at hand will be to complete the integration process
swiftly over the next few months," Fuchs adds.

One aspect of the realignment of OHB's German satellite and payload
business entails the combination of the two existing facilities in Munich
at new central premises at the Oberpfaffenhofen space center near Munich.
New offices are currently being built there to accommodate technical
facilities which will allow OHB to assume responsibility for new and
challenging projects. With the "topping-out" celebrated on July 23, 2014,