
Zurich, December 23, 2005
In December 2001, in an effort to concentrate its activities, Von Roll sold a 51 % stake in Von Roll America Inc. and WTI (Waste Technologies Industries) to the Heritage Environmental Service, LLC, Indiana, USA. On 21 December 2005 Von Roll sold the remaining 49 % shares to the Heritage Environmental Service, LLC, Indiana, USA through a put/call agreement.
Von Roll's stake in the WTI industrial waste incineration plant in Ohio dates back to a time when Von Roll Inova, which specialized in planning and building such plants, still was part of the Von Roll group. This divestiture results in the sale of the last major shareholding not belonging to what now constitutes Von Roll's core business.
The sales price amounts to CHF 8.1 million. At the same time, a loan in the amount of CHF 7.0 million was repaid, netting Von Roll a total cash payment of CHF 15.1 million. In addition, the sale improved Von Roll's equity by CHF 3.3 million. In accordance with IFRS 21,48 an exchange rate difference of CHF 12.7 million pertaining to WTI and already entered in the company's equity has to be recognized in the profit and loss statement. This entry means that Von Roll's profit after tax for 2005 will be lower than last year's figure, contrary to previous publications.
With the divestiture of the WTI shares, Von Roll concludes in general its refocusing activities and can now concentrate fully on its core business.
Key dates: 17/01/2006 Communication of orders and sales in 2005 07/03/2006 Balance sheet media conference 06/04/2006 General Meeting of Shareholders