BAVARIA Industriekapital AG signs an agreement to take over Elcoteq Communications Technology GmbH

12/27/2007, 6:00 PM (Source: GlobeNewswire)
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The issuer is solely responsible for the content of this
announcement.
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BAVARIA Industriekapital AG signs an agreement to take over Elcoteq
Communications Technology GmbH
Munich: BAVARIA Industriekapital AG takes over Elcoteq Communications
Technology GmbH in Offenburg, Germany. Elcoteq Communications
Technology GmbH is a fully owned subsidiary belonging to the Elcoteq
group, the largest European electronics manufacturing services (EMS)
company. The closing of the agreement is subject to an approval by
the German competition authority. The parties signed also an
agreement under which the company will continue to deliver key parts
to Elcoteq group.
"This takeover confirms once again BAVARIA Industriekapital AG's
standing as an outsourcing partner for the manufacturing of important
components. We see a lot of potential to enhance our position in
contract manufacturing through further acquisitions ", explains CEO
Reimar Scholz.
"We are pleased to enter into this agreement with a German buyer that
will continue the company's operations in Offenburg. The company's
role in Elcoteq's global service network has diminished due to
strategic changes in market demand in Elcoteq's clientele and this is
why Elcoteq concluded that the company can be better developed under
new ownership", says Mr. Harri Ojala, Vice President, Corporate
Affairs at Elcoteq SE.
Elcoteq SE is a leading electronics manufacturing services (EMS)
company with original design manufacturing (ODM) capabilities in the
communications technology field. Elcoteq provides global end-to-end
solutions consisting of product development, NPI, manufacturing,
supply chain management, and after-sales services for the whole
lifecycle of its customers' products. These products include terminal
products such as mobile phones and set-top boxes as well as
communications network equipment such as base-stations, tower-top
amplifiers, and microwave systems. The company operates in 16
countries on four continents and employs some 25,000 people.
Elcoteq's consolidated net sales for 2006 totaled 4.3 billion euros.
Elcoteq SE is listed on the Helsinki Stock Exchange. For more
information visit the Elcoteq website at www.elcoteq.com.
BAVARIA Industriekapital AG's 2006 revenues were EUR 333 million,
with an EBITDA of EUR 51 million. The company is listed in the Entry
Standard on the Frankfurt Stock Exchange. Headquartered in Munich,
the group invests in companies with strong market positions and a
potential to improve profits.
For further questions, please contact:
BAVARIA Industriekapital AG
Mr. Steffen Görig
steffen.goerig@baikap.de
Tel: +49 (0)178 509 7162



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BAVARIA Industriekapital AG
Bavariaring 18 München Germany

WKN:
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;
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