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PCB | September 22, 2006

RUWEL transformed back again<br>into a limited liability company

After the RUWEL AG, Geldern has been joined by an investor group, consisting of Bear Stearns,
BlueBay Asset Management and Cargill Value Investment, the company will be transformed back
again into its original legal form as a limited liability company (GmbH).
In 2001 the "Ruwel-Werke GmbH" had been transformed into an AG during the run-up of an intended initial public offering (IPO). RUWEL AG is based in Geldern and is Europe's second largest independent supplier of Printed Circuit Boards and in the last fiscal year 2005 achieved sales of EUR 163 Million. The company has five plants in Geldern, Pfullingen, Wetter und Grassau and employs approx. 1,200 people.

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