Schaltbau Group expanding in the USA

Schaltbau Holding AG / Acquisition

19.04.2010 16:53

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Schaltbau Group expanding in the USA

Munich / Kassel, 19 April 2010 - The Bode Group is strengthening its
presence on the growing North American market for door systems by
repurchasing Bode Corporation, which is based in Spartanburg, South
Carolina, USA, and thus resolutely pursuing the Schaltbau Group's declared
long-term strategy of expansion. In global business activities with train
doors and increasingly with bus doors, the international orientation of
suppliers is continually gaining in significance. The only way to flexibly
fulfil the requirements of customers and simultaneously heed the call for
so-called local content is to invest locally. With the reacquisition of
Bode Corporation, the Schaltbau Group can now benefit from working within
familiar, existing structures in order to successfully tap the key
potential the North American market has to offer.

Bode Corporation recorded sales revenue of approximately US$ 2 million in
2009 and most recently employed a workforce of 18 people. The acquisition
took economic effect as of 1 January 2010. The parties agreed not to
disclose the purchase price. Gebr. Bode GmbH & Co. KG, of Kassel, Germany,
a wholly owned subsidiary of Schaltbau Holding AG, repurchased its 67%
share in Bode Corporation, USA via its subsidiary Gebr. Bode & Co.
Beteiligungs-GmbH and thus takes over industrial leadership of the company
with immediate effect.

With annual sales of EUR 270 million and a workforce of around 1,600
employees, the Schaltbau Group is one of the leading suppliers of
components and systems in the field of transportation technology. It
supplies complete level crossing systems, door systems for buses and
trains, industrial braking systems for container cranes and also power
supply units as well as high- and low-voltage components for railway
vehicles. Its innovative and future-oriented products make Schaltbau a key
business partner in the fields of transportation technology and industry.


19.04.2010 Ad hoc announcement, Financial News and Media Release
distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Schaltbau Holding AG
              Hollerithstraße 5
              81829 München
              Deutschland
Phone:        089 - 93005 - 209
Fax:          089 - 93005 - 318
E-mail:       bloch@schaltbau.de
Internet:     www.schaltbau.de
ISIN:         DE0007170300, DE000A0D66Z2, DE000A0TFWY1
WKN:          717030, A0D66Z2, A0TFWY1
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Berlin, Düsseldorf, Stuttgart
 
End of News                                     DGAP News-Service
 
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