DGAP-News: Hess AG: Nordeon takes over business operations

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Aug 23, 2013 at 5:45 AM

DGAP-News: Hess AG: Nordeon takes over business operations of Hess

DGAP-News: Hess AG / Key word(s): Insolvency/Disposal Hess AG: Nordeon takes over business operations of Hess 23.08.2013 / 11:30 --------------------------------------------------------------------- Hess AG: Nordeon takes over business operations of Hess - Nordeon acquires all shares, activities and employees of Hess effective 1st October, 2013 - Continuation of business operations by Hess GmbH Licht+Form Villingen-Schwenningen, 23rd August, 2013. Nordeon takes over all assets necessary for the continuation of business operations of Hess AG at the site in Villingen-Schwenningen by way of an asset deal effective 1st October, 2013. The asset deal is based on the future concept for Hess GmbH Licht+Form mutually developed and implemented by the insolvency administrator Dr Volker Grub and the management of Hess AG. Further, the sales company of Hess located in Scandinavia as well as the production site and sales of Hess in the USA are being taken over. The working relationships of about 180 Hess employees in total are being continued. Hess invests a great deal in the development of energy-efficient lighting products and concentrates on meeting all requirements for lighting design in the public space as well as for the indoor and outdoor illumination of objects with a wide range of design-oriented luminaires. The product portfolio is completed by premium street and site furnishings. Nordeon is an internationally positioned company based in the Netherlands and with sites in Germany and France. The company was founded in October of 2012 as part of a spin-off from Philips in Springe and expanded as early as two months later through acquiring the Philips production site in France. A further step in growth was taken in March of this year acquiring Vulkan GmbH, which then belonged to the Hess group. By taking over Hess, Nordeon significantly extends its product line in the range of outdoor lighting and continues its growth strategy at the same time. Accordingly pleased is Pierre van Lamsweerde, CEO of the Nordeon group: 'Hess is a world-wide known and prestigious brand and has a high reputation especially concerning the design and the quality of the luminaires. We are further strengthening our range of outdoor lighting through this acquisition. We are now in the position to offer technical-functionally as well as decorative outdoor lighting of high quality from a single source. Likewise, Hess further reinforces our production focussed on Europe'. Insolvency administrator Dr Volker Grub is also more than satisfied: 'With the strategic investor Nordeon, we have found an ideal solution for Hess'. And Andreas R. Budde, Managing Director of Hess AG, continues: 'An ideal solution that maintains jobs on the one hand and ensures the long-term continuation of the company on the other hand'. Contact: Hess AG Marco Walz Investor Relations / Communications LantwattenstraÃ?e 22 D - 78050 Villingen-Schwenningen Tel.: +49 (0) 7721 920-475 Fax: +49 (0) 7721 920-771475 EMAIL: marco.walz@hess.eu www.hess-ag.de End of Corporate News --------------------------------------------------------------------- 23.08.2013 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: Hess AG LantwattenstraÃ?e 22 78050 Villingen-Schwenningen Germany Phone: +49 7721 920 0 Fax: +49 7721 920 250 E-mail: hess@hess.eu Internet: www.hess.eu ISIN: DE000A0N3EJ6 WKN: A0N3EJ Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, DÃ¼sseldorf, MÃ¼nchen, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 227196 23.08.2013

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