Press Release Company
23.03.2009|Global, strategic cooperation

GILDEMEISTER cooperates with Mori Seiki, Japan ​​​​​​​

Bielefeld. GILDEMEISTER Aktiengesellschaft has signed a cooperation agreement with the Japanese machine tool manufacturer, Mori Seiki Co. LTD. (Nagoya). The cooperation covers production, purchasing and the development of machines, as well as sales and services in selected markets.

This strategic partnership allows both companies to extend their business activities. They will both benefit from short and long-term mutual advantages. The aim of this "win-win" partnership is to achieve synergies of about € 15 million per year for both sides. 

To strengthen the alliance, a cross shareholding has been agreed. Investment in 5% of the shares each, confirms the long-term character of the cooperation. GILDEMEISTER has already purchased 2 million Mori Seiki shares and will increase this up to a total of 4.4 million shares (5%). Mori Seiki will purchase 2.3 million (5%) GILDEMEISTER shares, arising out of a capital increase in authorised capital excluding share options. Mori Seiki will subscribe to the GILDEMEISTER shares at € 7.93 per share; the closing price on 20 March 2009 was € 5.73. Mori Seiki will thus become the largest, single GILDEMEISTER shareholder. In addition, reciprocal representation on competent bodies is planned. 

"The world of machine tools has become global. Meeting and overcoming the challenges of the international economic crisis demands strong alliances. We will bundle our resources in order to achieve joint efficiency advantages," said the chairman of the executive board, Dr. Rüdiger Kapitza. The GILDEMEISTER management appreciates the cooperation with Mori Seiki to commonly enhance chances.

GILDEMEISTER Aktiengesellschaft
The Executive Board

Disclaimer, Forward-looking statement

Disclaimer, Forward-looking statement

Statements relating to the future:

This press release contains forward-looking statements, which are based on current estimates of the management of future developments. Such statements are based on the management's current expectations and specific assumptions. They are subject to risks, uncertainties and other factors, which could lead to the actual future circumstances, including the assets, liabilities, financial position and profit or loss of GILDEMEISTER, differing materially from or being more negative than those expressly or implicitly assumed or described in these statements. The business activities of GILDEMEISTER are subject to a series of risks and uncertainties, which may result in forward-looking statements, estimates or forecasts becoming inaccurate. Should one of these factors of uncertainty or other unforeseeable event occur, or should the assumptions on which these statements are based prove incorrect, the actual results may differ materially from the results stated, expected, anticipated, intended, planned, aimed at, estimated or projected in these statements. Forward-looking statements must not be understood as a guarantee or assurance of the future developments or events contained therein.