Gesco AG: Possible negative earnings impact from antitrust proceedings
December 12, 2017 at 10:04 am EST
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Gesco AG / Key word(s): Legal Matter/Legal Matter
Gesco AG: Possible negative earnings impact from antitrust proceedings
12-Dec-2017 / 15:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Wuppertal, December 12, 2017 - In the context of investigations against manufacturers of steel products on suspicion of anti-competitive agreements and actions in the years 2003 to 2015, the Federal Cartel Office also investigates Dörrenberg Edelstahl GmbH, a 90% subsidiary of GESCO AG. The Federal Cartel Office has informed Dörrenberg Edelstahl GmbH of the possibility of refraining from initiating a fine proceedings against payment of a high single-digit million euro amount. In consultation with legal advisors, this possibility will be examined in detail and decisions will be made on how to proceed. Whether and, if so, under what conditions an agreement between Dörrenberg Edelstahl GmbH and the Federal Cartel Office is reached is currently open. Obligations in connection with this legal dispute would result in a negative impact on earnings at Dörrenberg Edelstahl GmbH and thus also on the level of the GESCO Group. The economic impact is currently not concrete quantifiable. The effects of this issue are to be taken into account in the consolidated financial statements for the current financial year 2017/2018.
Head of Investor Relations, Oliver Vollbrecht
Tel. +49-202 24820-18, Fax +49-202 24820-49
E-Mail: info@gesco.de, Internet: www.gesco.de
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Gesco AG is a Germany-based investment company that acquires industrial small and medium-sized enterprises (SMEs). The Company focuses on production process technology, resource technology, health, and infrastructure technology, as well as mobility technology, and operates as a long-term investor. It manages takeovers both through management buyouts (MBOs) and management buy-ins (MBI), and through group spin-offs. It offers machines, production facilities, tools, components, and services from steelmaking to 3Dimension (3D) printing, from medical technology to special purpose mechanical engineering. The Company operates in Germany and its subsidiaries include, among others, Astroplast Kunststofftechnick Gmbh & Co KG, Franz Funke Zerspanungstechnik GmbH & Co KG, Doemer GmbH & Co KG Stanz- und Umformtechnologie, Doerrenberg Edelstahl GmbH, MAE Group, SVT GmbH, Frank Group and Setter Group.