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New Owner Sought for E.C.H. Will, Pemco and Kugler-Womako

Thursday, June 30, 2011

Press release from the issuing company

Hamburg / Nürtingen / Sheboygan, Wisconsin, – Within the context of the strategic realignment of the Group, the Körber Executive Board is seeking a new owner for E.C.H. Will, Pemco and Kugler-Womako, which are part of the Körber PaperLink Group and form together the Paper Systems business unit.

"We have taken a strategic decision that has nothing to do with the performance of the companies," said Hildemar Böhm, Chairman of the Körber PaperLink Management Board. "Our aim is to find a suitable new owner for Paper Systems which will continue the success stories of the past years together with the companies. All three are successful companies with a high customer focus, dedicated employees and excellent know-how. We are convinced that they will have better prospects with a new owner who is willing to enter into a long-term commitment and who supports their strategies," said Böhm.

There is no specific time horizon for the sale. While Körber is keen to complete the sale quickly, what is more important is finding the best possible investor.

E.C.H. Will, Pemco and Kugler-Womako collectively have around 440 employees worldwide. Sales in 2010 amounted to some €100 million. They have sales and service offices in Asia, Latin America Scandinavia, and Russia and a global agent network. Their installed base represents over 5,000 machines worldwide. "We are amongst the market leaders in our respective fields of business and are very proud of our long tradition," said Klaus Aarestrup, Chairman of the Management Board of E.C.H. Will and speaker of Paper Systems.

The Körber PaperLink Division is set to remain part of the Körber Group. It will concentrate on its competencies in the fields of tissue, hygiene, mailing solutions and production logistic, and will further strengthen and expand these interests.

 

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