RUWEL AG has new financial partners

Through a transaction arranged by the global Investment Bank Bear Stearns a group of investors consisting of Bear Stearns, BlueBay Asset Management and Cargill Value Investment has acquired all outstanding loans of RUWEL from a consortium of German banks and savings banks. Following the approval by the relevant antitrust authorities, the investor group together with Management will also acquire 100 % of the equity in the group. The objective of the transaction is to consolidate the financial position of RUWEL AG and to further support the Company's development in a market with attractive growth prospects, but which is presently going through a consolidation phase. The Financial Investors will support the Company as well as the Management in this development.

RUWEL AG is based in Geldern and is Europe's second largest independent supplier of Printed Circuit Boards and in the last fiscal year 2005 achieved sales of EUR 163 Million. The company has five plants in Geldern, Pfullingen, Wetter und Grassau and employs circa 1,200 people.