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Electronics Production | June 15, 2011

LPKF prepares group structure for further growth

LPKF Laser & Electronics AG closed contracts of sale on the acquisition of external stakes in two subsidiaries.
Completion of the contracts of sale will give LPKF AG a 100% shareholding in LPKF Motion & Control GmbH in Suhl and a 100% shareholding in LPKF Distribution Inc. in Portland (USA). Early in 2011, the company already acquired the external shares in its Chinese subsidiary.

CEO Dr. Ingo Bretthauer considers the acquisition of the share-holdings to be an important step in pushing forward the company’s strong growth in different segments. “As a high-tech company, our success largely depends on how fast we can respond to changes in our markets. This can be hindered by com-plex Group structures. Our aim is to restructure the Group to enable us to rapidly implement strategic decisions.”

LPKF boasts several product segments with strong growth potential. These include the Thin Film Technologies segment in particular, which currently has an order book totalling more than EUR 10 million. Laser scribers for the production of solar cells are developed and manufactured at LPKF’s business location in Suhl. The acquisition of the shares in LPKF Motion & Control GmbH establishes the conditions needed by LPKF AG to considerably strengthen this segment operatively and financially.

An immediately payable purchase price tranche of EUR 3.3 million was agreed for the acquisition of the 49.1% shareholding in LPKF Motion & Control GmbH. The payment of two more purchase price tranches with similar volumes has also been agreed dependent on achieving contractually defined performance targets by 2014. Approx. 10% of the additional purchase price tranches will be paid in the form of new shares in LPKF Laser & Electronics AG.

The acquisition of the external 15% shares in LPKF Distribution Inc. in Portland (USA) was paid in the form of 50,000 new shares in LPKF Laser & Electronics AG. For this purpose, the management board acted with the approval of the supervisory board to raise the capital by EUR 50,000 with the exclusion of subscription rights as empowered by the resolution adopted by the Annual General Meeting on 10 June 2010 (authorized capital).

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