euro adhoc: Miba Aktiengesellschaft / Strategic management decisions / Miba to Sell Naples Plant to Former Managing Director

--------------------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------

28.09.2006

Miba, strategic partner to the international engine and automotive
industry, is selling its sinter plant in Naples with 170 jobs to an
Italian investor on October 31, 2006. This move is aimed at securing
the company’s existence in the long term. Both parties have agreed
not to disclose the purchase price.

By optimizing its location concept, Miba is preparing for the
anticipated market growth in the automotive industry in Far East.
This includes building a manufacturing facility for shock absorber
and small engine components in Suzhou. The Miba Sinter Group is also
investing in its high-tech operations in Vorchdorf and Dolny
Kubín/Slovakia. "Concentrating on specific plants means that we can
continue to develop our high levels of quality and productivity and
are equipped for future growth," explains CFO Siegfried Dapoz. This
year Miba is investing a total of 35.5 million euros in plant and
machinery. Of this figure, 17.7 million euros will go towards
expanding the sinter plants.

What speaks for selling the Naples plant to Italian businessman
Giovanni Malvassora, who successfully took over the Turin-based
Italian subsidiary in a management buy-out in 2004, is his
long-standing experience, which will guarantee the company’s future
existence.

The Miba Group Based in Laakirchen/Upper Austria, Miba is a strategic
partner and supplier to the international engine and automotive
industry. The Group manufactures sintered components, engine
bearings and friction materials for vehicles, trains, ships, aircraft
and power stations. Miba products make them safer, eco-friendlier
and more powerful. The listed company employs some 2,900 people at
nine locations worldwide with about half at its local plants in
Laakirchen, Vorchdorf and Roitham. It reported sales of 347 million
euros with an operating profit of 21.7 million euros for fiscal
2005-06.

end of announcement euro adhoc 28.09.2006 13:40:41
--------------------------------------------------------------------------------

ots Originaltext: Miba Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Miba AG, A-4663 Laakirchen, Dr. Mitterbauer-Straße 3

Press
Susanne Dickstein
Head of Corporate Communications
Tel.: +43/7613/2541-1117
susanne.dickstein@miba.com

Investors/Analysts
Siegfried Dapoz
Chief Financial Officer
Tel.: +43/7613/2541-1471
siegfried.dapoz@miba.com

Branche: Industrial Components
ISIN: AT0000734835
WKN: 872002
Index: WBI
Börsen: Wiener Börse AG / Regulated free trade


	hier anmelden...