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BÖWE SYSTEC AG (FRA:BSY) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
BÖWE BELL + HOWELL, BÖWE Group's North American subsidiary, will sell its scanner business to Eastman Kodak Company. The BÖWE BELL + HOWELL Scanner business has always been operated as a rather autonomous entity and was not fully integrated into the worldwide sales and service network of the BÖWE Group. In 2008, the Scanner business generated revenue of approximately $32m USD and was profitable.
The sale of the BÖWE BELL + HOWELL scanner business represents an important step in the group-wide efficiency improvement plan, focusing on our core competences in mailroom management. Cash proceeds from the sale of the business will be used to reduce outstanding debt in the US. The parties anticipate this transaction will be completed by the end of the first quarter of 2009.
The BÖWE Group is one of the world leading providers for mailroom management systems. Within the three areas hardware, software and service the BÖWE Group offers all kinds of services relating to document mailing of high volumes. Those are personalization, inserting, monitoring and sorting as well as software for production process control, automation and tracking of mailrooms. The strengths of BÖWE Group are both, the technological leadership as well as the worldwide sales and service network.
BÖWE SYSTEC AG The Management Board
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BÖWE SYSTEC AG Investor Relations Werner-von-Siemens-Str. 1 Augsburg
WKN: 523970 ; ISIN: DE0005239701; Index: CDAX, CLASSIC All Share, Prime All Share; Listed: Amtlicher Markt in Bayerische Börse München, Freiverkehr in Börse Berlin, Freiverkehr in Börse Stuttgart, Freiverkehr in Börse Düsseldorf, Prime Standard in Frankfurter Wertpapierbörse, Amtlicher Markt in Frankfurter Wertpapierbörse;