Five investors competing to take over the NewCo of BÖWE SYSTEC 

• Aim is to quickly reach a solution for the NewCo – contract expected to be concluded by the end of July

Augsburg, 9 July 2010 – Five financial investors have submitted concrete purchase offers for the new company of BÖWE SYSTEC AG to the preliminary insolvency administrator Werner Schneider. The NewCo essentially comprises the company’s European and Japanese business. “This means we are still on course to finalise a takeover of these activities by 31 July,” said Werner Schneider. “The number of offers shows that there is great interest in BÖWE SYSTEC’s products and services, and is also clear evidence of the belief that BÖWE SYSTEC is now on its way back to successful times.”

BÖWE SYSTEC AG initiated insolvency proceedings on 20 May 2010, but continued business operations without interruption under Schneider. At the end of June the Augsburg-based mailroom systems manufacturer established a new company, BÖWE SYSTEC GmbH, in order to secure its long-term viability. The new company combines all German, European and Japanese activities as well as the company Lasermax Roll Systems. The shares of BÖWE SYSTEC GmbH are the object of the current sale process.

The preliminary insolvency administrator Werner Schneider expects the purchase contract to be concluded by the end of July. All the offers submitted so far envisage the existing production plants remaining at the headquarters in Augsburg, which means that a considerable number of jobs will be secured.

About BÖWE SYSTEC:

BÖWE SYSTEC is the European market leader in mailroom systems. Whilst the public corporation (AG) affected by the insolvency employs around 600 people, the group has around 3,300 employees worldwide. In 2009 the Group generated consolidated revenues of EUR 367.1m, which was 13.5% down on the previous year as a result of the recession. Although the new top management of BÖWE SYSTEC AG has introduced dramatic restructuring measures since early 2009, the company had to file for insolvency by mid-May because it lacked a sound financing concept.


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