DGAP-News: SKW Stahl-Metallurgie Holding AG: European Court

DGAP-News: SKW Stahl-Metallurgie Holding AG / Key word(s): Legal Matter SKW Stahl-Metallurgie Holding AG: European Court decides on claim of nullity against fine from the year 2009 23.01.2014 / 14:03 --------------------------------------------------------------------- Unterneukirchen (Germany), January 23, 2014. The Court of Justice of the European Union rejected, in the context of its rendition of judgment of today, the claim of nullity brought forward by companies of the SKW Metallurgie Group against the antitrust fine of the year 2009. Moreover, the Court of Justice of the European Union assessed, by another decision of today relating to the claim of nullity brought forward by Gigaset AG against the same fine, the fine levied onto Gigaset AG at EUR 12.3 million; other than that, that claim was rejected as well. The SKW Metallurgie Group currently assumes, relating to the maximum fine in the amount of EUR 13.3 million levied in this matter also onto companies outside the Group through joint and several liabilities, that economically it will not have to bear any fine at least in the amount of EUR 12.3 million, since according to the assessment of the SKW Metallurgie Group, full liability is with the then corporate parent ARQUES Industries AG (now: Gigaset AG) at least for that amount, in the context of the execution of internal compensation proceedings. This assessment is also confirmed by Oberlandesgericht München (Upper Regional Court München) in the context of the reasons for its decision of February 9, 2012. While also referring to the reasons for the decision by the Regional Court, in its ruling, the Upper Regional Court München also ascertained that 'it is not the defendant [SKW Stahl-Metallurgie Holding AG und SKW Stahl-Metallurgie GmbH] that has to bear the monetary fine, but the plaintiff [Gigaset AG]'. Regarding to this legal case, a final ruling by Bundesgerichtshof [Federal High Court] is currently pending. The SKW Metallurgie Group will intensely evaluate the appropriate financial classification of this matter. Based on currently available information and their first review, the creation of a provision for the fine is to be assumed in the amount of EUR 1 million. In addition, the provisions created for legal fees will be re-evaluated. After intense assessment of the written opinion of the court, the SKW Metallurgie Group will decide on further steps. The judgment is to become legally binding in two months at the earliest. Should the SKW Metallurgie Group have to remit payments to the European Commission regarding this matter, the required cash positions would be available. Further information on the Group can be found online at: www.skw-steel.com. Contact SKW Stahl-Metallurgie Holding AG Christian Schunck Head of IR and Corporate Communications Rathausplatz 11 84579 Unterneukirchen Germany Telephone IR/Press: +49 89 5998923-22 Fax: +49 89 5998923-29 E-mail: schunck@skw-steel.com Internet: www.skw-steel.com About SKW Stahl-Metallurgie Holding AG The SKW Metallurgie Group is the global market leader for chemical additives for hot metal desulphurization, and for cored wire used in secondary metallurgy. The Group's products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world's leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know how, and currently operates in more than 40 countries. What is more, the Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The company's operating business is broken down into the two core segments 'Cored Wire' and 'Powder and Granules', and the 'Other' segment. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the US (6), Canada, Mexico, Brazil, South Korea, Sweden, Bhutan, Russia, the Peoples' Republic of China (2) and India (2 via joint venture). Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt Stock Exchange's Prime Standard since December 1, 2006 with ISIN DE000SKWM013 (from August 15, 2011: new ISIN DE000SKWM021). DISCLAIMER This press release contains statements on future developments that are based on currently available information and involve risks and uncertainties that could cause the actual results to differ from these forward-looking statements. These risks and uncertainties include, for example, unpredictable changes in political and economic conditions, particularly in the steel and paper industry, the competitive situation, interest and currency risks, technological development as well as other risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and its Group companies accept no obligation to update such forward-looking statements. End of Corporate News --------------------------------------------------------------------- 23.01.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: SKW Stahl-Metallurgie Holding AG Rathausplatz 11 84579 Unterneukirchen Germany Phone: +49 (0)8634 62720-15 Fax: +49 (0)8634 62720-16 E-mail: info@skw-steel.com Internet: www.skw-steel.com ISIN: DE000SKWM021 WKN: SKWM02 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 249312 23.01.2014