DGAP-News: Nabaltec AG: General meeting endorses forward-looking strategy for Nabaltec AG
(firmenpresse) - Nabaltec AG / AGM/EGM/Forecast
10.06.2010 12:21
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Nabaltec AG
- General meeting endorses forward-looking strategy for Nabaltec AG
- Strong course of business in first quarter of 2010, with 49.7% revenue
growth, continues in April and May
- Increase of revenue forecast 2010 to a range from EUR 90 million to EUR
97 million
Schwandorf/Amberg, 10 June 2010 - The Management and Supervisory Boards of
Nabaltec AG found considerable support at today's general meeting in Amberg
for their strategy of investing to grow the company's business even in the
tough market environment of 2009. Despite the economic crisis in nearly all
of Nabaltec's target markets, the company stuck to its plans and invested
around EUR 20 million in building a new production site, which will
manufacture additives for the plastics industry. This new product segment
has began operations in the fourth quarter of 2009. In addition to first
regular deliveries currently the additives are in approval processes by
many customers.
According to Johannes Heckmann, member of the Nabaltec AG Management Board:
'In light of the environment in 2009, it wasn't an automatism for a
mid-sized company like Nabaltec to adhere to a EUR 20 million investment
plan nearly unchanged and rapidly finish the construction project. But we
never really questioned it, since we are aware of the outstanding potential
of these new additives, which can be used as an eco-friendly alternative to
heavy metal-based stabilizers in PVC processing. We see global trends and
market drivers which will create outstanding opportunities for Nabaltec
entire product portfolio, particularly its flame retardants, as companies
all over the world are turning towards more eco-friendly and mineral based
additives for flame retardation in plastics.' The outlook is similarly
bright for Nabaltec's newly developed boehmite, as a flame retardant in
printed circuit board production for the electronics industry. Nabaltec
will create additional capacity for this product segment, making an
investment in the low single-digit EUR millions in order to build a new
production facility at the Schwandorf site in 2010.
The course of business in the first five months of the current year
underscores the positive trends in Nabaltec AG's markets. After posting
49.7% revenue growth in the first quarter, Nabaltec reported above-average
course of business in April and May 2010. Nabaltec raises its 2010 revenue
forecast due to the positive course of business with a new target between
EUR 90 million and EUR 97 million. Management Board member Johannes
Heckmann added as follows: 'Our revenue growth in 2010 was more than just a
catch-up effect from the year before, and instead represented true market
growth.' On the earnings side, Nabaltec's EBIT for 2010 will be more than
EUR 3 million according to the forecast presented at the 2010 general
meeting.
The shareholders in attendance at the general meeting, representing 73.2%
of the total voting rights, voted on a total of four agenda items.
Resolutions approving the actions of the Management and Supervisory Boards
and electing the auditor, as well as amendments to the Articles of
Association in response to the passage of the Act Implementing the
Shareholder Rights Directive and the new provisions of the Corporations Act
which were enacted as part of the Act of the Appropriateness of Management
Board Remuneration, were all adopted with large majorities.
About Nabaltec AG
Nabaltec AG, with registered office in Schwandorf, a chemicals business
which has received multiple awards for innovativeness, manufactures,
develops and distributes highly specialized products based on aluminum
hydroxide ('ATH') and aluminum oxide, as well as other raw materials, on an
industrial scale through its 'Functional Fillers' and 'Technical Ceramics'
divisions. The company's product range includes halogen-free flame
retardant fillers and eco-friendly additives for the plastics industry.
Flame retardant fillers are used e.g. in cables in tunnels, airports,
high-rise buildings and electronic devices, while additives replace
stabilizers containing heavy metals in PVC processing. Nabaltec also
produces base materials for use in technical ceramics, the refractory
industry and catalysis. Unlike halogenated flame retardant fillers, the
products manufactured by the company's 'Functional Fillers' division
contain no hazardous substances and do not require separate disposal.
Rather, the company's flame retardant fillers actually decrease the
development of fumes hazardous to human health and the environment in the
event of fire. Nabaltec maintains production sites in Germany and the US
and plans to continue to consolidate its market position by expanding
capacity, further optimizing processes and quality and making strategic
extensions to its product range. On the strength of its specialty products,
the company strives to attain not just the quality leadership, but also the
market leadership in each segment.
Contact:
Heidi Wiendl
Nabaltec AG
Phone: +49 9431 53-202
Fax: +49 9431 53-260
E-mail: InvestorRelations(at)nabaltec.de
Frank Ostermair
Better Orange IR&HV AG
Phone: +49 89 8896906-14
Fax: +49 89 8896906-66
E-mail: frank.ostermair(at)better-orange.de
10.06.2010 12:21 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Nabaltec AG
Alustraße 50-52
92421 Schwandorf
Deutschland
Phone: +49 9431 53-0
Fax: +49 9431 53-260
E-mail: info (at)nabaltec.de
Internet: www.nabaltec.de
ISIN: DE000A0KPPR7
WKN: A0KPPR
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart; Entry
Standard in Frankfurt
End of News DGAP News-Service
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