KENDRION : Appeal with Court of Justice regarding fine European Commission

P R E S S R E L E A S E K E N D R I O N N . V . 1 6 J A N U A R Y 2 0 1 2 Kendrion lodges an appeal with the Court of Justice regarding the fine of the European Commission

On 16 November 2011, the General Court of the European Union in Luxembourg delivered its judgement in the case brought by Kendrion N.V. against the fine imposed on 30 November 2005 by the European Commission in the amount of EUR 34 million (excluding interest) for infringement of Article 81(1) of the EC Treaty by its former subsidiary Fardem Packaging B.V., established in Edam, the Netherlands (case number T-54/06). As mentioned in the press release of 16 November 2011 the General Court ruled that the fine is to be upheld in full.
The judgement of the General Court has hardly any impact on the operational activities of
Kendrion and does not influence its ability to meet its financial covenants and obligations.
Upon thorough review of the complete judgment and based on external legal opinion, Kendrion N.V. has decided to lodge an appeal with the Court of Justice of the European Union. In the opinion of Kendrion N.V., such an appeal has a serious chance of success. The legal costs involved are very limited.
Besides the existing provision of EUR 2.2 million, Kendrion N.V. has decided to create an additional provision amounting to EUR 39 million in view of the judgement of the General Court. This additional provision will be shown in the fourth quarter results 2011 which will be published on 29 February 2012.
Kendrion N.V. has issued a bank guarantee to the European Commission at the start of the appeal with the General Court. This bank guarantee will remain valid during the appeal with the Court of Justice.

Profile of Kendrion N.V.

Kendrion N.V., a solution provider, develops, manufactures and markets innovative high-quality electromagnetic systems and components for customers all over the world. Kendrion's operations are carried out by four business units focused on specific market segments, namely Industrial Magnetic Systems, Industrial Drive Systems, Passenger Car Systems and Commercial Vehicle Systems.

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Kendrion has leading positions in a number of business-to-business niche markets. Germany is
Kendrion's main market, although other countries are becoming increasingly important.

Kendrion's activities

Kendrion develops advanced electromagnetic solutions for industrial applications. These are used by customers all over the world in systems such as lifts, door-locking systems, industrial
robots, medical equipment, electrical switchbox systems, diesel engines, air-conditioning installations, motor cooling systems and beverage dispensers. Kendrion's key customers
include a.o. Bosch, Siemens, Daimler, Continental, Delphi, Evobus, Hyundai and Yutong.
Kendrion's shares are listed on NYSE Euronext's Amsterdam market. Zeist, 16 January 2012
The Board
Piet Veenema - Chief Executive Officer
Eiko Ris - Chief Financial Officer
Heinz Freitag - Chief Operating Officer

For more information:

Kendrion N.V. Mr P. Veenema Utrechtseweg 33
3704 HA ZEIST
THE NETHERLANDS
Tel: +31 - 30 - 699.72.68
Fax: +31 - 30 - 695.11.65
Website: www.kendrion.com

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