Annual Meeting approves all proposals (24/04/2007)
sia Abrasives strengthens market presence in South East Asia
sia Abrasives Holding AG’s Annual General Meeting on 24 April 2007 approved all proposals put forward by the Board of Directors. The dividend was raised from CHF 10.00 to CHF 12.00. sia Abrasives will selectively pursue its growth strategy during 2007. The company has just opened a representative office in Singapore to strengthen its market presence in the South East Asian market.
Roland Eberle, who took over the sia Group’s operational management at the beginning of the year, presented the highlights of 2006 and outlook for 2007 to the 314 shareholders present at the Frauenfeld Stadcasino. Turning to the growth strategy, he announced two forward-looking developments in Singapore and Mexico. The sia Group has just opened a Representative Office with an integrated training and communication centre in Singapore. “This will enable sia Abrasives to support its long-time distributors in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines more effectively, while strengthening its competitive position in the rising and strongly growing South East Asian market”, said Roland Eberle. At the beginning of 2007, sia Abrasives set up a conversion operation in Mexico, expanding its sales company into a conversion facility. The Mexican market offers substantial potential for the high-quality sia products.
Dividend raised
sia Abrasives Holding AG’s 28th Annual General Meeting held at the Frauenfeld Stadtcasino on 24 April 2007 was attended by 314 shareholders holding 368’108 votes or 50.1% of the total registered shares entitled to vote. The Annual General Meeting approved all proposals put forward by the Board and discharged the Directors and Executive Committee from liability for the 2006 financial year. Shareholders will receive a dividend of CHF 12.00 per registered share, a 20% increase over the previous year, underscoring the policy of sustaining an attractive payout. The Annual General Meeting approved the annual report, company financial statements and consolidated financial statements for 2006 as presented. PricewaterhouseCoopers AG, Winterthur, will act as statutory and Group auditors for a further year. The Annual General Meeting adopted a number of amendments to the Articles of Association of sia Abrasives Holding AG to reflect changes in legislation and especially to promote shareholders’ interests.
Hans-Ulrich Spiess paid tribute to Peter A. Schifferle, who retired as CEO at the end of 2006 and will take over as Chairman of the Board after the Annual General Meeting. Hans-Ulrich Spiess will remain on the Board as Deputy Chairman.
Financial calendar
30 April 2007 Dividend payment Mid-August 2007 Announcement of interim results 18 March 2008, 9 a.m. Annual press conference at SWX Swiss Exchange in Zurich 18 March 2008, 11 a.m. Analyst conference at SWX Swiss Exchange in Zurich 9 April 2008, 4 p.m. Annual General Meeting of Shareholders at Frauenfeld Stadtcasino
® Correct nomenclature for sia Abrasives Holding AG
As there are other companies and organizations that use the same abbreviation as our company, we would be grateful if you could help to avoid any misunderstandings by always writing our name as follows: sia Abrasives (never just sia by itself).
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