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Bankleitzahlen - online.de


BÖWE SYSTEC secures financing through to the year 2011

Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
----------------------------------------------------------------------
--------------




BÖWE SYSTEC AG, the leading global provider of total solutions for
handling large volumes of mail, has concluded agreements with its
financers under which they will not only initially extend the
existing lines of credit to 30.4.2011 but also be making additional
funds available in the double figure million range. The Kreditanstalt
für Wiederaufbau KfW will be providing a significant portion of the
new funds which will be used primarily to replace an existing loan in
connection with the acquisition of the shareholding in BÖWE
BELL+HOWELL. In this context the company has succeeded in agreeing a
replacement figure approximately ¤ 10 million lower than the amount
of the loan. This will reduce the net debt of the BÖWE SYSTEC Group
accordingly and consequently achieve an important step towards
improved ratios between earnings before interest, taxes and
depreciation (EBITDA) on the one side and interest-bearing
liabilities on the other.

The Management Board would like to thank the financers involved in
the negotiations for their constructive attitude and their confidence
in the company, without whose help the results that have now been
achieved would not have been possible. "Given the current situation
on the international financial markets, a promise of financing for a
period of nearly two years must be seen as a very positive sign as
this will guarantee the necessary stability in terms of financial
management for the further implementation of the current program
designed to increase the earnings power whilst simultaneously
reducing the level of debt", stated the Chairman of the company's
Management Board, Oliver Bialowons.

The key aim of the restructuring program is to achieve a clear
reduction in the existing level of net debt in order to get back to
the "Investment Grade" credit rating level.

For the current fiscal year 2009 the Management Board plans to post a
marked improvement in the operating results by comparison with the
previous year. The progress of the fiscal year to-date confirms that
the Group is on target to achieve this objective.


More detailed information will be given during the company's Annual
General Meeting which will be held in Augsburg on August 25, 2009.


Augsburg, August 3rd, 2009


BÖWE SYSTEC AG
Board of Directors



--- End of Message ---

BÖWE SYSTEC AG
Investor Relations
Werner-von-Siemens-Str. 1
Augsburg

WKN: 523970 ; ISIN: DE0005239701; Index: CDAX, CLASSIC All Share,
Prime All Share;
Listed: Freiverkehr in Börse Berlin, Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Düsseldorf, Prime Standard in Frankfurter
Wertpapierbörse,
Regulierter Markt in Bayerische Börse München, Regulierter Markt in
Frankfurter Wertpapierbörse;
Copyright © Hugin AS 2009. All rights reserved.



 
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