Successful turnaround: BAVARIA Industriekapital sells Hamba Filltec

10/15/2007, 8:30 PM (Source: GlobeNewswire)
Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------

Munich, 15 October 2007: BAVARIA Industriekapital sells the
machine-manufacturer Hamba Filltec GmbH & Co. KG and Hamba Filling
Technology Services GmbH to a company of Oysar Group, the former IWKA
packaging division.
The company, which is located in Saarland/ Germany, was taken over at
a symbolic purchase price in April 2004 and had accumulated losses of
EUR 50 millions in the three preceding years. After the acquisition
by BAVARIA, Hamba was strategically repositioned with a new
generation of machines under a new management. At the same time, the
R&D activities were increased and distribution and customer services
extended internationally. Consequently, both strong regional dairy
producers as well as worldwide milk- and yogurt producers were won
back as key customers. Meanwhile, a large-scale cost reduction
program was launched, which led to considerable savings in the
purchase of material and overhead cost. Due to the implementation of
this restructuring program and the introduction of a new filling
machine in modular manufacturing method, the company raised its sales
and achieved the turnaround, now showing considerable profits. The
employees of Hamba also benefit: after an inevitable initial
personnel reduction, the number of employees at currently 127 in
Hamba is larger than before the takeover by BAVARIA.
BAVARIA Industriekapital AG realised substantial proceeds through the
consideration and dividends. The group with its headquarter in Munich
acquires companies with a strong market position and the potential to
increase profits. BAVARIA AG had sales revenue of EUR 333 million in
fiscal year 2006 with an EBITDA of EUR 51 million and is listed in
the Entry Standard at Frankfurt Stock Exchange (ISIN DE0002605557).
For further information, please contact:
BAVARIA Industriekapital AG
Frau Sibylle Wienecke
Investor Relation
Tel +49 (0)89 7298 967 20

--- End of Message ---

BAVARIA Industriekapital AG
Bavariaring 18 München Germany

260555; ISIN: DE0002605557;
Listed: Entry Standard in Frankfurter Wertpapierbörse, Freiverkehr in
Bayerische Börse München,
Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf,
Freiverkehr in Börse Stuttgart, Freiverkehr in Hanseatische
Wertpapierbörse zu Hamburg,
Freiverkehr in Niedersächsische Börse zu Hannover;
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.