04/07/2008
Capital increase successfully completed
Schuler strengthened by € 35 million of new capital - Schuler well equipped for the future
The capital increase of up to € 9,100,000.00 from authorized capital adopted by the Board of Management and Supervisory Board of Schuler AG on March 17, 2008 has been successfully placed in full. All 3.5 million new shares offered for subscription in the capital increase were purchased at a subscription price of € 10.00 per share. The subscription price of € 35 million was paid up in full.After entering the completed capital increase in the Commercial Register, Schuler’s capital stock now amounts to € 54.6 million. It has full dividend rights for the fiscal year 2007/08. The conversion of all preferred shares to common shares is to be adopted at the coming Annual Shareholders' Meeting on April 10, 2008.
Schuler has now established a firm financial basis for the implementation of its growth strategy with the successful completion of the capital increase and a recently agreed syndicated bank loan amounting to € 450 million. Following the acquisition and swift integration of Müller Weingarten, which has been successfully completed just twelve months after announcement, the Schuler Group has broken into a new dimension which will enable it to tap extra growth potential. The global market leader in metalforming technology with annualized sales of over € 900 million is also planning to break through the one-billion-euro sales barrier within the next three years.
The four main growth drivers are:
- innovative products resulting from greatly expanded engineering expertise,
- even stronger presence in future markets of Asia and Eastern Europe,
- further exploitation of supplier and non-automotive markets
- continued expansion of successful Service segment.
Contact - North America
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