DGAP-Adhoc: Loewe AG: Loewe and Hisense Agree on Strategic

Loewe AG / Key word(s): Alliance 31.07.2013 09:13 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Kronach, Wednesday, July 31, 2013 - Loewe AG, Kronach, Germany, and the Hisense International Co., Ltd., Qingdao, China, today agreed on a joint strategic partnership. The executive boards of both companies have signed an extensive partnership agreement in this context. The objective of the strategic partnership with Hisense, China's leading provider of consumer electronics with an emphasis on TVs, is to promote shared synergies in purchasing, production, development, and sales. The partnership is meant to enable Loewe to offer more state-of-the-art TVs in the premium brand's entry level segment in the future. It will create new opportunities for distribution in the technical superstores in Germany and abroad in addition to sales through classic retail partners. Moreover, Hisense will give Loewe long-term access to the latest TV panel technology and attractive markets in China. In return, Loewe is offering Hisense a first-class distribution network in Western Europe, in particular in the German-language markets and the Benelux countries. As a first step, Loewe will take on the exclusive distribution for Hisense in the Austrian test market for the introduction of the latest Ultra-HD technology. In addition, the strategic partnership will give Hisense access to Loewe's powerful TV software encompassing the entire range of functionalities of state-of-the-art televisions, including all multimedia and Internet applications. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About Loewe: Award-winning design, innovative technology and superior quality are features of all products sold under the Loewe premium brand. Technology highlights include: highly customizable home entertainment systems with high-definition picture quality, integrated hard disk recorders, and a perfect connection between Internet and television. Founded in Berlin in 1923, Loewe is a listed company that produces and distributes televisions, Blu-ray players, audio components as well as multi-room solutions. About Hisense: The high-tech company Hisense was founded in China in 1969 and is one of the world's leading manufacturers of flat screen TVs, household appliances, and mobile communication devices. Among research institutions, the http://www.presseportal.de/stichwort/unternehmen/13company is considered one of the top ten players in the business intelligence sector. With 17 production sites and seven R&D facilities around the world as well as regional representatives in Europe, North America, Australia, Africa, and Southeast Asia, it offers its products in more than 130 countries. -------------------------------------- For further details, please contact: Loewe AG Industriestrasse 11 D-96317 Kronach Investor Relations, Axel Gentzsch Phone: +49 (0)9261 99-240 Fax: +49 (0)9261 99-994 Email: axel.gentzsch@loewe.de Public Relations, Dr. Roland Raithel Phone: +49 (0)9261 99-217 Fax: +49 (0)9261 99-444 Email: roland.raithel@loewe.de 31.07.2013 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: Loewe AG Industriestrasse 11 96317 Kronach Germany Phone: +49 (0)9261 99-984 Fax: +49 (0)9261 99-994 E-mail: ir@loewe.de Internet: www.loewe.de ISIN: DE0006494107 WKN: 649410 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------