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- Pressemitteilung BoxID 506260
Merger of Hörmann-Funkwerk Kölleda GmbH (FWK) with and into Funkwerk AG
Contract due for approval at annual shareholders' meeting
(PresseBox) (Kölleda/Thüringen, )
The Executive Board and the Supervisory Board of Funkwerk AG have decided today to go ahead with the merger of Hörmann-Funkwerk Kölleda GmbH (FWK) registered in Kölleda ('FWK') with and into Funkwerk AG. Funkwerk AG holds the full stake in FWK.
Within the framework of the merger, all the assets of FWK will be transferred to the parent company, Funkwerk AG. As a result, FWK will cease to exist once the merger takes effect.
Funkwerk AG will submit the merger contract to its shareholders for approval at the annual shareholders' meeting on 22 June 2012.
Hörmann-Funkwerk Kölleda GmbH, which reported a shareholders' equity under IFRS of EUR 23.6m as at 31 December 2011, employs around 225 people. In fiscal 2011, the company generated sales of EUR 34.2m along with an EBIT of EUR 6.4m. Its annual net profit before profit transfer totalled EUR 1.4m (IFRS). FWK is part of the Traffic & Control Communication segment of Funkwerk AG specialising in the development of stationary and mobile communication system solutions for mobile rail transport and railway infrastructures.
The merger is a major milestone in the process of reorientation implemented at the Funkwerk group to increase its competitive strength and improve its earning power. Key strategic goals include the simplification of corporate structures, a more consistent focus of its the operating units on appropriate target groups, and the centralisation of cross-divisional functions such as administration, purchasing and production. A more streamlined organisation will also facilitate the planned optimisation of the group's supply chain management.
Within the framework of the merger, all the assets of FWK will be transferred to the parent company, Funkwerk AG. As a result, FWK will cease to exist once the merger takes effect.
Funkwerk AG will submit the merger contract to its shareholders for approval at the annual shareholders' meeting on 22 June 2012.
Hörmann-Funkwerk Kölleda GmbH, which reported a shareholders' equity under IFRS of EUR 23.6m as at 31 December 2011, employs around 225 people. In fiscal 2011, the company generated sales of EUR 34.2m along with an EBIT of EUR 6.4m. Its annual net profit before profit transfer totalled EUR 1.4m (IFRS). FWK is part of the Traffic & Control Communication segment of Funkwerk AG specialising in the development of stationary and mobile communication system solutions for mobile rail transport and railway infrastructures.
The merger is a major milestone in the process of reorientation implemented at the Funkwerk group to increase its competitive strength and improve its earning power. Key strategic goals include the simplification of corporate structures, a more consistent focus of its the operating units on appropriate target groups, and the centralisation of cross-divisional functions such as administration, purchasing and production. A more streamlined organisation will also facilitate the planned optimisation of the group's supply chain management.
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