Board of sia Abrasives has instigated additional investigations into the takeover bid by Behr Deflandre & Snozzi BDS AG (05/09/2008)
Having conducted an initial review and assessment of the terms of the public takeover bid launched by Behr Deflandre & Snozzi BDS AG, the Board of sia Abrasives Holding AG has intigated additional investigations. These are intended to provide an in-depth analysis of the price offered and the consequences for shareholders and stakeholders. In particular, the Board of Directors expects detailed information about the bidding company's motives and strategic considerations and about possible effects of a takeover on sia Abrasives' location and jobs. It anticipates that the outcome of these investigations will be available in the next ten days and that it will then be able to issue a fuller statement.
About the sia Group The sia Group based in Frauenfeld ranks among the world’s top three suppliers of flexible abrasives. It develops, manufactures and markets complete abrasive systems tailored to specific requirements and applications for surface preparation and finishing of all kinds. This commitment has made abrasive processes into true surface technologies. Employing some 1,150 people worldwide, sia Abrasives posted net sales of CHF 298 million and operating profit (EBIT) of CHF 30.3 million for 2007. sia Abrasives Holding AG is listed on the SWX Swiss Exchange and generates more than 90% of its sales outside Switzerland.
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