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DGAP-Ad hoc: BALDA AG <BAD> english - 500 Beiträge pro Seite


ISIN: DE000A2AA402 | WKN: A2AA40 | Symbol: CAG
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20.07.17
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DGAP-Ad hoc: BALDA AG <BAD> english

Balda Subsidiary Albea closes Joint Venture deal with US company TecStar

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement.

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Balda Subsidiary Albea closes Joint Venture deal with US company TecStar

- Balda´s diversification strategy in non-infocom sector continues - Unique market position in the US - Consolidation of In-Mold services core competencies - Orders from non-European automotive and medical technology markets

Bad Oeynhausen/Germantown - The Balda subsidiary company Albea Kunststofftechnik GmbH, which specialises in plastic film manufacture, will embark on a joint venture with Tecstar Mfg. Company, a member of the MGS Manufacturing Group. Each company will keep its 50 per cent stake in the joint venture, which will operate under the name Albea Technologies. Business activities for the joint venture will commence in the fourth quarter of 2002. The joint turnover forecast for the coming year is 3.5 million Euros.

Albea Technologies strategically combines the core competencies of both companies; the joint venture will benefit from the technological and manufacturing expertise of Albea on the one hand, and on the other from Tecstar´s high level of market penetration in the USA. The object of the partnership is the development, manufacture and marketing of Albea´s In-Mold service outside Europe. To this end Albea Technologies will focus to begin with on the automotive and medical technology markets. The portfolio of the joint venture gives the company a unique market position in the USA. Division of tasks is planned as follows: the plastic films are to be manufactured at the German plant in Seelbach and subsequent spraying of the films and their marketing is to be carried out from the company´s headquarters in Germantown, Wisconsin in the USA.

The Albea Technologies joint venture represents a consistent extension of Balda´s diversification strategy and takes it into the business areas of automotive and medical technology.

If you have any questions please contact: Balda AG, Cersten Hellmich and Kathrin Breitensträter (Investor Relations), Telephone: +49 (0)5734 922-2706, Fax: +49 (0)5734 922-2691, e-mail: chellmich@balda.de, kbreitenstraeter@balda.de, Internet: http://www.balda.de

end of ad-hoc-announcement (c)DGAP 30.07.2002

Issuer´s information/explanatory remarks concerning this ad-hoc-announcement:

Albea is a centre of competence in the Balda Group for the development and production of what is known as In-Mold Decoration (IMD). Besides this, their range of services also includes the post-production processes of injection-moulding, surface finishing and system components manufacture. Albea can take on its newly-added task of film manufacture for the joint enterprise immediately with existing capacity and without additional roll-out costs. Tecstar´s high level of market penetration in the USA is based in particular on the company´s high-performance mould production. The mould production operation manufactures amongst other things the components for injection-moulding and plays a decisive role in achieving the highest quality in components manufacture.

The market potential of the joint venture is extremely promising. There is no other US company who poses a competitive threat in In-Mold Decoration. In the IMD process, decorative elements are bonded to injection-moulded components with great precision.

In addition to the above activities, the strategic partnership is also to market all the non-infocom products, processes and technologies of both parent companies, Balda and MGS. The portfolios of both organisations complement each other and put them into a technologically dominant position. Both companies identify the joint venture as a means of increasing their competitiveness with a global presence.

In terms of core competence and technological know-how, Balda is today already a major international player in plastic component manufacture for mobile communications. No other manufacturer supplies all the necessary technologies to this market from one source. Apart from its German sites, Balda also operates manufacturing plants in Suzhou, China and Ipoh, Malaysia, as well as a development centre in Tønsberg, Norway, through its joint venture with the Swiss company, Mikron AG.

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WKN: 521510; ISIN: DE0005215107; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart

Autor: DGAP import (),20:29 30.07.2002



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