Sonova welcomes decision by German Federal Supreme Court
"I am very pleased about the German Federal Supreme Court decision, which clearly confirms that intense competition in the hearing instrument industry is being waged over the most innovative products and the best priceperformance offering," commented Valentin Chapero, CEO of the Sonova Group. "Competition among manufacturers for the business of hearing care professionals stimulates the industry. This is the only way Sonova has been able to establish itself over the years as the leading provider of hearing healthcare solutions," said Chapero.
After the takeover of the ReSound Group was prohibited in 2007, Sonova joined the opposition proceedings led by ReSound at the German Federal Supreme Court as a joint appellant. The ruling from the German Federal Cartel Office and the competent court, Oberlandesgericht Düsseldorf in 2007, which prohibited the acquisition, was reversed by the German Supreme Court on April 20, 2010.
Sonova will not enforce any indemnity claims against the parties involved in the original case.
This Media Release may contain forwardlooking statements which offer no guarantee with regard to future performance. These statements are made on the basis of management's views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside the company's control.
About Sonova Holding AG
Sonova is the leading provider of innovative hearing healthcare solutions. The globally active group is the world's top manufacturer of hearing systems, the market leader in wireless communication systems for audiology applications, develops and manufactures advanced cochlear implant systems and provides professional solutions for hearing protection. Sonova is pursuing a clear growth strategy and is intent on building its market share. To this end it is constantly expanding its existing business segments and branching out into other areas of the hearing healthcare industry.
Present in over 90 countries, and with a workforce of over 5,600 employees, Sonova generated sales of CHF 1.249 billion in the financial year 2008/09 and a net profit of CHF 284 million. This financially strong group of companies bases its success on innovation, customer focus and proactive cost management.
The company has been successfully promoting understanding and communication for over 60 years, and is ideally positioned to benefit from the trends in this growth industry.
For more information please visit www.sonova.com.