EANS-Adhoc
Semperit Group: Sempermed Joint Venture, Thailand
--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------
Joint Ventures/Cooperation/Collaboration
06.05.2016
As already reported, Semperit Group is involved in three arbitrations
against its Thai joint venture partner, Sri Trang-Agro Industry
Public Co Ltd. Group and the joint venture company Siam Sempermed
Corporation Ltd. (SSC), respectively.
A final award was rendered in favour of Semperit in the arbitration
proceeding against the joint venture partners concerning the
possibility to pass board resolutions with a reduced quorum. The
arbitral tribunal decided that the Sri Trang Group nominated
directors of SSC cannot and may not block SSC's decision-making and
also the Casting Vote of the Semperit nominated Chairman, by not
participating in board meetings.
Further, the joint venture partners are ordered to bear the costs of
the arbitration proceedings and of the ICC Court and to reimburse to
Semperit an amount of approximately EUR 2.8 million. In case the
joint venture partners do not comply with this final award,
enforcement proceedings may become necessary. Semperit will, for the
time being, not change the current method of consolidation (at
equity) in relation to SSC.
About Semperit The publicly listed company Semperit AG Holding is an
internationally-oriented group that develops, produces, and sells in
more than 100 countries highly specialised rubber products for the
medical and industrial sectors: examination and surgical gloves,
hydraulic and industrial hoses, conveyor belts, escalator handrails,
construction profiles, cable car rings, and products for railway
superstructures. The headquarters of this long-standing Austrian
company, which was founded in 1824, are located in Vienna. The
Semperit Group employs more than 7,000 people worldwide, including
close to 4,100 in Asia and more than 800 in Austria (Vienna and
production site in Wimpassing, Lower Austria). The Group has 22
manufacturing facilities worldwide and numerous sales offices in
Europe, Asia, Australia and America. In 2015 the group generated
sales of EUR 915 million and an EBITDA of EUR 101 million.
Further inquiry note:
Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperitgroup.com
Stefan Marin
Head of Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperitgroup.com
www.semperitgroup.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
mail: investor@semperitgroup.com
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ATX Prime, ViDX, Prime Market, ATX Global Players
stockmarkets: official market: Wien
language: English
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------
Joint Ventures/Cooperation/Collaboration
06.05.2016
As already reported, Semperit Group is involved in three arbitrations
against its Thai joint venture partner, Sri Trang-Agro Industry
Public Co Ltd. Group and the joint venture company Siam Sempermed
Corporation Ltd. (SSC), respectively.
A final award was rendered in favour of Semperit in the arbitration
proceeding against the joint venture partners concerning the
possibility to pass board resolutions with a reduced quorum. The
arbitral tribunal decided that the Sri Trang Group nominated
directors of SSC cannot and may not block SSC's decision-making and
also the Casting Vote of the Semperit nominated Chairman, by not
participating in board meetings.
Further, the joint venture partners are ordered to bear the costs of
the arbitration proceedings and of the ICC Court and to reimburse to
Semperit an amount of approximately EUR 2.8 million. In case the
joint venture partners do not comply with this final award,
enforcement proceedings may become necessary. Semperit will, for the
time being, not change the current method of consolidation (at
equity) in relation to SSC.
About Semperit The publicly listed company Semperit AG Holding is an
internationally-oriented group that develops, produces, and sells in
more than 100 countries highly specialised rubber products for the
medical and industrial sectors: examination and surgical gloves,
hydraulic and industrial hoses, conveyor belts, escalator handrails,
construction profiles, cable car rings, and products for railway
superstructures. The headquarters of this long-standing Austrian
company, which was founded in 1824, are located in Vienna. The
Semperit Group employs more than 7,000 people worldwide, including
close to 4,100 in Asia and more than 800 in Austria (Vienna and
production site in Wimpassing, Lower Austria). The Group has 22
manufacturing facilities worldwide and numerous sales offices in
Europe, Asia, Australia and America. In 2015 the group generated
sales of EUR 915 million and an EBITDA of EUR 101 million.
Further inquiry note:
Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperitgroup.com
Stefan Marin
Head of Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperitgroup.com
www.semperitgroup.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
mail: investor@semperitgroup.com
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ATX Prime, ViDX, Prime Market, ATX Global Players
stockmarkets: official market: Wien
language: English
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte