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ADAST Communicates Strength from New Owners, New Money

Monday, March 17, 2003

Press release from the issuing company

ADAMOV, 3/11/03 -- The name ADAST, a world-renowned brand of printing machine, is also now the official name of the largest producer of printing machines in Central and Eastern Europe, with its headquarters and production plant in Adamov. The company ADAST a.s. changed its name following the entry of a strategic owner and once all the necessary formal requirements had been fulfilled with regard to the entry of the new name in the Commercial Register. This took place on 12. 2. 2003. The renaming of the company corresponds to the principal aims of the new owner, whose primary goal is to ensure the stabilisation, rejuvenation, and development of the business, whilst at the same time maintaining the existing production programme. The company currently has sufficient resources at its disposal to realise these aims. Such resources are mainly intended for the development of technical innovation, the support of marketing and commercial activities, and the expansion of the offer of sales financing. The considerable capital injection is also linked to a comprehensive restructuring process that primarily involves the sphere of company organisation and the system of company management. In connection to the changes planned, it is expected that the entry of the new owner will signal the beginning of a dynamic new era for the company and that the result of this work will be the successful return of the ADAST brand to the top producers of offset printing machines. ADAST a.s. has also assumed the obligations to ensue from the sale of printing machines, in other words, guarantee and post-guarantee servicing, technical consultancy, and other services. This was also confirmed by new Commercial Director Milo‰ Kromp: “We want to assure our customers and the users of ADAST offset printing machines that we will meet all obligations to arise from our position as printing machine manufacturers. We will also try to cooperate with our customers and users as closely as possible, since it is precisely these customers that are the key to our success”. The new owner of the company is PENTA, a financially strong, private investment company that operates primarily in the Czech and Slovak Republics. PENTA’s activity is predominantly focused on the purchase of companies and businesses and their subsequent restructuring. It also engages in the purchase and handling of receivables and in arbitrage investments in securities. In the past, PENTA has stabilised companies such as Sanitas, Elektrovod, or Drotovna Hlohovec, which it recently sold to the Belgian company Bekaert. It is currently working on the restructuring of the metallurgical complex of VSÎ Ko‰ice (as its major shareholder) and has undertaken the restructuring of the ZSNP Îiar nad Hronom aluminium works from the position of financial co-investor.




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