Manz AG sells Hungarian company and thus optimises production structure
May 08, 2024 at 10:51 am EDT
Share
EQS-Ad-hoc: Manz AG / Key word(s): Disposal
Manz AG sells Hungarian company and thus optimises production structure
08-May-2024 / 16:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication of inside information in accordance with Art. 17 (1) of Regulation (EU) 596/2014 on market abuse (Market Abuse Regulation)
Manz AG / Key word(s): Sale
Manz AG sells Hungarian company and thus optimises production structure
Reutlingen, May 8th, 2024 – Manz AG (ISIN: DE000A0JQ5U3) is selling its Hungarian subsidiary Manz Hungary Kft, Debrecen/Hungary, to Harro Höfliger Verpackungsmaschinen GmbH, Allmersbach, as part of a share deal, subject to contractually agreed conditions precedent and potential regulatory approvals. A corresponding agreement was signed by both parties today. The transaction is expected to be completed in the second quarter of 2024.
Manz Hungary Kft. specialises in the machining and welding of large-format objects, CNC milling and turning as well as the assembly of components and machines. With the sale of the Hungarian subsidiary, Manz AG optimises its production structure and gains greater flexibility in the manufacturing process through the planned close cooperation with Harro Höfliger Verpackungsmaschinen GmbH. The inflow of EUR 8 million from the transaction will additionally strengthen Manz AG's liquidity.
Additional information:
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Ticker Symbol: M5Z
Market segment: Regulated Market (Prime Standard) of the Frankfurt Stock Exchange
Manz AG
Steigäckerstraße 5
72768 Reutlingen
Deutschland
Investor Relations Contact:
Manz AG
Axel Bartmann
Tel.: +49 (0)7121 – 9000-395
E-Mail: investor-relations@manz.com
Kirchhoff Consult AG
Mario Groß
Tel.: +49 (0)40 – 609 186 82
E-Mail: manz@kirchhoff.de
End of Inside Information
08-May-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Language:
English
Company:
Manz AG
Steigäckerstr. 5
72768 Reutlingen
Germany
Phone:
+49 (0) 7121 9000-0
Fax:
+49 (0) 7121 9000-99
E-mail:
info@manz.com
Internet:
http://www.manz.com
ISIN:
DE000A0JQ5U3
WKN:
A0JQ5U
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
Manz AG is a Germany-based company engaged in manufacturing high-tech equipment. The Company's business activities are divided into five segments: Solar, Electronics, Energy Storage, Contract Manufacturing, and Service. The Company specializes in automation, vision and metrology, laser processing, wet chemistry, and roll-to-roll processes. It offers manufacturers and their suppliers manufacturing solutions in the areas of photovoltaics, electronics and lithium-ion battery technology. The Company's product portfolio includes both customer-specific developments and standardized machines and modules that can be linked together to form individual system solutions. The Company operates globally, with development and production facilities in Germany, Slovakia, Hungary, Italy, China and Taiwan, as well as sales and service branches in the United States and India.