Lacroix Electronique acquires PrehTronics

This merger is effective retrospectively from January 1, 2008. It has been agreed not to disclose the acquisition price. PrehTronics GmbH is a specialist in EMS services, and therefore strengthens Lacroix Electronique's position on the European EMS market long term. The sale of PrehTronics by the Preh Group marks a decisive move on the latter's part towards focusing completely on its core business in the Automotive industry. Yves Krotoff, Chairman of the Board of Groupe LACROIX, says: "The acquisition of PrehTronics means we have moved decisively closer to our goal. The two companies are complementary, enabling us to create ideal conditions in which to pursue our dynamic growth." Dr. Michael Roesnick, Chief Executive Officer of Preh GmbH, says: "In LACROIX Electronique we have found a partner for PrehTronics who will provide the company with excellent perspectives for growth in an increasingly competitive market environment. At the same time, this has enabled Preh to focus more closely on business in the Automotive sector." PrehTronics, located at Willich, near Düsseldorf, specialised in the development, manufacture and assembly of electronic modules and systems. In 2007, the company's 130-strong workforce achieved a turnover of €29.6m (up from €25.5m in 2006). In 2007, the Preh Group had an overall turnover of €321.3m (up from €277.7m in the previous financial year), employing 2 239 people. Since late 2003, the Preh Group has been owned by Deutsche Beteiligungs AG, Frankfurt. Lacroix Electronique had a turnover of €105m in 2006/2007 (compared to €89m in the previous financial year) and a workforce of 1273. In total, Groupe Lacroix employs some 2 200 people and had a consolidated turnover of €228.50m in 2006/2007 (compared to €200m in the previous financial year).