- Qualified majority reached with 78.73 % of the shares
- Expected savings from the integration of STEAG HamaTech in the range of about € 20 million
Today the SINGULUS TECHNOLOGIES AG (SINGULUS) acquires 66.28 % of the STEAG HamaTech AG shares from SES/RAG as planned. Thus, SINGULUS currently owns 78.73 % of the shares in total.
The integration of the two companies is being progressed as quickly as possible and implemented immediately within the scope of the legal framework. With the optimum adjustments at both companies, savings and synergies in the amount of about € 20 million are targeted. These cost advantages in procurement, production, R&D, sales and administration will significantly strengthen the international competitiveness of the SINGULUS Group.
SINGULUS will continue to focus on its core business of machines for Optical Disc in the future as well as the further development and the expansion of the areas TMR and Optical Coating. The business unit Prerecorded Disc will be located at SINGULUS in Kahl am Main, whereas the business unit Recordable Disc will be concentrated at STEAG HamaTech in Sternenfels. This means that the activities in the segment Recordable will be discontinued in Kahl. For the location in Sternenfels the executive board of STEAG HamaTech announced today that the activities in the Prerecorded segment will be stopped. Furthermore, a portfolio optimization will be implemented. Activities not regarded as core businesses are intended to be sold in case of attractive offers or transformed into joint ventures with strategic partners.
Taking into account the measures already initiated at STEAG HamaTech, the lay-off of more than 200 employees overall in both companies is expected in the course of the fiscal year 2006. Thereof, the workforce at SINGULUS’ headquarter in Kahl will be reduced by approximately 80 jobs.
SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/MainISIN: DE0007238909 / WKN: 723890